5 Nov

Homeowners look for houses for sale to fund retirement

Homeowners look for houses for sale to fund retirement

Homeowners could be tempted to purchase new houses for sale in order to fund their retirement.

Figures released earlier this week by Friends Provident revealed that 11 per cent of Britons are planning on purchasing smaller properties for sale.

This will help them to release equity on their larger asset, so that they can fund their retirement plans.

Research also showed that 32 per cent of Brits do not have a pension plan in place, which may mean that this figure could rise in the future.

Speaking on the findings, chief executive of Friends Provident Holdings (UK) Trevor Matthews said: "With increased longevity and the decline of final salary schemes, it is clear that in the future many people will need to consider how they can release some of the value from their house."

He added that people "still see their house as an investment".

Homeowners who are planning on getting a good deal on their existing property will be pleased to hear the latest Land Registry house price figures, which revealed that accommodation values have risen by 5.2 per cent over the last year.  ADNFCR-1222-ID-800220620-ADNFCR

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