Monday, March 3, 2008

This could well spark a big sell off…….

'Don't Count On Your Home As A Pension'

''Homeowners are being warned they face an impoverished retirement if they rely on their property as their sole pension. Increasing numbers of people claim to be planning to use their home to fund their retirement rather than saving into a fund. But research by insurer Standard Life shows that, on average, downsizing from the family home to a smaller property during retirement would provide a pension worth just 16% of average earnings.''

Posted by hpwatcher @ 09:57 AM (748 views)
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3 thoughts on “This could well spark a big sell off…….

  • Yep – people are always disappointed when they find out what they can get from equity release – about a quarter of the house value. It’s not a bad idea if you’re desperate but it’s no substitute for a pension.

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  • Landedgentry says:

    Property eh? still in it for the long term?

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  • it_is_going_with_a_bang says:

    Well to be honest I don’t know many people who would rely on their own home as any part of their pension – more a roof over their head?
    Anyone relying on property for a pension would surely be referring to a second + home and not their primary residence.
    One of the reasons behind the explosion in BTL.

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