Cast your mind back for a moment. The Power of love is blasting from your radio, Madonna is getting into the groove, you’re experiencing that first sense of entertaining depression that can only be Eastenders, Live Aid love is taking the country by storm. Yes, it’s 1985 and the average UK home costs £35,436*.

Now, shun your shoulder pads, prise yourself away from your power suit and fast forward to 2019; we’ve sadly said goodbye to legends such as Windsor Davies and Albert Finney, the Brexit battle continues, plastic pollution dominates environmental headlines and that same 80s house will now cost you £211, 541*. 

Sorry to sound like harbingers of doom, she says quickly googling some very positive 2019 facts (The new series of Game of Thrones has finally been announced – any good?).  However, what this does mean is (on another, more relevant and positive note) that if you’re still the owner of that 1980s abode, you’ve just bagged yourself a whopping 500%+ return on your investment. Nice!

Okay so chances are you’ve spent a fair bit of cash on various improvements to your home since the 80s, adding value as you went. You’ve shown your house some love and attention and have been rightly rewarded with a weighty return. 

In fact, thanks to this heroic housing boom most mid-eighties house buyers have been able to happily repay their mortgages. And, we can’t argue with the sense of comfort and wealth that comes from this mortgage free existence.

It’s true that the value of bricks and mortar wealth, that many mature homeowners are enjoying, is of course a hugely reassuring. However, it isn’t always in harmony with the amount of cash available to enjoy a fun filled retirement.  According to the Prudential roughly 40% of over 55s consider the option of downsizing in order to free up cash for the retirement they deserve. In fact many homeowners always had downsizing as part of their later life financial plan.

And we’d agree that it all sounds pretty perfect so far. Until that is the frustrating and often futile search for an attractive and affordable home begins. Without sufficient available homes that tick both boxes many Downsizers abandon their search, leaving them wonderfully asset rich but frustratingly cash poor.

The Daily Telegraph reports that between 2016-18 a third of Downsizers gave up on their search, looking instead for other ways to boost their later life finances.

Luckily we now have other routes to boosting that pot and funding the retirement we all deserve.  As highlighted in the Telegraph “ Unlocking tax-free funds with a Lifetime Mortgage is a popular alternative because both you and your partner are guaranteed to retain full home ownership for life or until you enter long-term residential care.”

With further benefits including a lack of monthly repayments and, in many cases, the potential to move home should you need, it’s no wonder that 70,000 people each year opt for a lifetime mortgage to boost their later life income.

Did we mention that the money is tax-free and yours to spend as you wish? So, whether you fancy that brand new shiny kitchen, a luxury cruise around the tropics, would love to help the family or just want to enjoy a first class retirement, the world is your oyster.

If you’re reading this with a knowing nod, the first step is to get your hands on some seriously expert advice. Our specialist equity release advisors will walk you through the process, make sure that you get the best plan for you and help to avoid any reductions to your state entitled benefits.

We’re here to help so please get in touch for greater and more personal equity release insight.

Thanks for reading, here’s to a fabulous retirement and the power of love.

* According to figures by Nationwide

Cast your mind back for a moment. The Power of love is blasting from your radio, Madonna is getting into the groove, you’re experiencing that first sense of entertaining depression that can only be Eastenders, Live Aid love is taking the country by storm. Yes, it’s 1985 and the average UK home costs £35,436*.

Now, shun your shoulder pads, prise yourself away from your power suit and fast forward to 2019; we’ve sadly said goodbye to legends such as Windsor Davies and Albert Finney, the Brexit battle continues, plastic pollution dominates environmental headlines and that same 80s house will now cost you £211, 541*. 

Sorry to sound like harbingers of doom, she says quickly googling some very positive 2019 facts (The new series of Game of Thrones has finally been announced – any good?).  However, what this does mean is (on another, more relevant and positive note) that if you’re still the owner of that 1980s abode, you’ve just bagged yourself a whopping 500%+ return on your investment. Nice!

Okay so chances are you’ve spent a fair bit of cash on various improvements to your home since the 80s, adding value as you went. You’ve shown your house some love and attention and have been rightly rewarded with a weighty return. 

In fact, thanks to this heroic housing boom most mid-eighties house buyers have been able to happily repay their mortgages. And, we can’t argue with the sense of comfort and wealth that comes from this mortgage free existence.

It’s true that the value of bricks and mortar wealth, that many mature homeowners are enjoying, is of course a hugely reassuring. However, it isn’t always in harmony with the amount of cash available to enjoy a fun filled retirement.  According to the Prudential roughly 40% of over 55s consider the option of downsizing in order to free up cash for the retirement they deserve. In fact many homeowners always had downsizing as part of their later life financial plan.

And we’d agree that it all sounds pretty perfect so far. Until that is the frustrating and often futile search for an attractive and affordable home begins. Without sufficient available homes that tick both boxes many Downsizers abandon their search, leaving them wonderfully asset rich but frustratingly cash poor.

The Daily Telegraph reports that between 2016-18 a third of Downsizers gave up on their search, looking instead for other ways to boost their later life finances.

Luckily we now have other routes to boosting that pot and funding the retirement we all deserve.  As highlighted in the Telegraph “ Unlocking tax-free funds with a Lifetime Mortgage is a popular alternative because both you and your partner are guaranteed to retain full home ownership for life or until you enter long-term residential care.”

With further benefits including a lack of monthly repayments and, in many cases, the potential to move home should you need, it’s no wonder that 70,000 people each year opt for a lifetime mortgage to boost their later life income.

Did we mention that the money is tax-free and yours to spend as you wish? So, whether you fancy that brand new shiny kitchen, a luxury cruise around the tropics, would love to help the family or just want to enjoy a first class retirement, the world is your oyster.

If you’re reading this with a knowing nod, the first step is to get your hands on some seriously expert advice. Our specialist equity release advisors will walk you through the process, make sure that you get the best plan for you and help to avoid any reductions to your state entitled benefits.

We’re here to help so please get in touch for greater and more personal equity release insight.

Thanks for reading, here’s to a fabulous retirement and the power of love.

To find out more please click here to speak with one of our experts
Find out how much you could release with our FREE Equity Release Calculator.

* According to figures by Nationwide

Photo by Marion Michele on Unsplash