In their manifestos, no major political party has looked at how equity release could be used to help the over 55s.
Later life lender more2life has urged the future government to consider how it can meet the needs of the UK’s 20 million over-55s, including looking at equity release.
In their manifestos, no major political party has considered how equity release could be used to tackle issues.
These include boosting retirement income, paying for care in older age and helping first-time buyers take a step onto the property ladder.
In addition, more2life has also encouraged the new government to ensure there is greater investment in accessible property for older voters to help them downsize and free up family homes.
Dave Harris, chief executive at more2life, said: “While, this General Election is arguably one of the most important in recent memory, it is discouraging to see that the manifestos have not looked to directly address the longer term concerns of the over-55s.
“This is a generation that is often supporting both younger and older family members while trying to make long-term sustainable choices about their finances.
“Some indication from the parties that choosing to use your housing equity to make smart financial choices is encouraged would have been welcomed.
“As would more detail around what a government is doing to help people live longer independent retirements by facilitating the building of affordable accessible properties.
“Following the results of the General Election, I would very much hope to see more detail about their proposals and a clear realisation around the challenges which face both the country and individuals as they approach retirement.”
