|
Debt consolidation and equity release |
 |
People often use the New Year to take stock and review their financial situation |
|
The use of equity release as a tool for debt consolidation is expected to increase given the current economic climate |
|
Equity release for debt consolidation is an option but should never be the first choice – especially in the younger age groups |
|
Duncan Young, Chief Executive of Retirement Plus, says: “We are expecting to see increased use of equity release products for debt consolidation in 2008. The uncertainty of the current economic climate means it is going to be harder for people to balance the books next year. |
“It is worthwhile remembering that equity release should not be seen as an ‘easy’ way out of debt, however, it can be a very useful tool when it fits a client’s needs and requirements fully.” |
|
