Are you running the risk of outliving your savings and pension? Boost your retirement income with a Lifetime Mortgage.
With many UK homeowners retiring early and living longer, retirement is no longer the end stage, it is actually the beginning of a 52 week a year holiday. As such, many people are finding their savings and pension pots are unable to provide them with the level of income they need to make the most of their retirement.
One way to boost your retirement income is to consider a Lifetime Mortgage which could allow you to unlock some of the wealth you have tied up in your home without having to move out of your home.
This is becoming an increasingly popular financial solution for homeowners aged 55 and above; a survey of over 1,000 UK homeowners in 2021 revealed that 12% were planning on releasing equity to boost their retirement income.
A Lifetime Mortgage could offer you financial freedom in a way that is tailored to your unique circumstances.
Here are some reasons to increase your income with a Lifetime Mortgage:
Fund that overseas adventure
Whether it’s a Caribbean cruise or a trip to Australia to soak up the winter sun, you deserve to enjoy the simple pleasures. Make sure that you are able to benefit from all the perks of retirement travel with a Lifetime Mortgage. By releasing wealth tied to your property with this financial product, you will maintain ownership of your house, so you will always have your family home to come back to after your overseas adventures.
Renovate your house
This year, over a third of homeowners over 55 claimed that home renovations were their top priority in retirement. Not only will updating the kitchen, converting the loft and creating a brand-new extension provide some much-needed space to keep your social and family life fresh, but home improvements are also a great way to increase your property’s value. Give your beloved home some TLC with a Lifetime Mortgage.
Give the family a helping hand
From helping your son or daughter step onto the property ladder to assisting them with a wedding, it can’t be denied that some of life’s biggest milestones come with a hefty price tag. If you have substantial wealth tied up in your home, opting for a Lifetime Mortgage means that you can give your loved ones a helping hand.
Get a new car
If you have a new grandchild and are finding that getting a child seat in and out of your small car is starting to be a pain, or you are wanting to invest in a larger vehicle to take your loved ones on memorable family outings, a Lifetime Mortgage can help get you behind the wheel of a safe and reliable car.
Invest in yourself
Wanting to invest in dance classes or a weekly yoga session to keep you moving in retirement? A Lifetime Mortgage can help fund your new pursuits, keeping you active and giving your life a sense of routine. Whether it’s a social, creative, physical or community activity that you want to engage in, releasing the wealth tied to your property can take the worry out of spending time and money investing in your own health and happiness.
Supplement your retirement income with North East Equity Release
As members of The Equity Release Council, we are committed to ensuring that you can remain in your home until you die or move into permanent care. We will also ensure that you never owe more than the total price of your home.
North East Equity Release are totally independent and have access to the whole of the equity release market, ensuring that you get the best deal for your Lifetime Mortgage.