According to the FT Adviser Tory plans for the social care sector could drive more people towards equity release...
The article goes on to say
....Under the proposal, published in the Conservative manifesto last week, the threshold for free social care will increase from £23,250 to £100,000 but the value of a property will be included in the calculation for people who need care in their own homes.
However, those in care will be able to keep their homes until after they die, when the home will be sold to recover the costs, with £100,000 passed on to loved ones, guaranteed....
read more: Tory social care plans could boost equity release
Only last week did Retirement Advantage launch an equity release product that it claims has the lowest interest rate ever they have offered.
The Lifestyle Lite product has a monthly interest rate of 3.92 per cent, and comes with an optional cash reserve facility for an extra cost.
It is part of the Lifestyle Options range, which also includes Gold and Platinum plans, and is a traditional-style equity release product, where the customer receives a one-off cash lump sum and the interest on it rolls up and is added to a lifetime mortgage secured against the customer’s home.
Read more : Equity release plan launches their 'lowest rate ever'
So will equity release be the must have item for 2017?