A significant number of retirees in the UK who have lost faith in the banking system are looking at other methods of making their golden years a bit brighter. Many are shifting there priorities from investing in shares, boosting their pensions and providing an inheritance for their families to making sure their retirement is more comfortable.
People are starting to realise that their investments and pensions aren’t going to pay off as they expected and to many, releasing equity in their home in order to purchase overseas property could be the ideal alternative. ‘They might not want to sell their domestic home but it is a big asset.’ said John Digman, head of equity release services at Newcastle Building Society.
Equity release has always been seen as the ideal vehicle for releasing finances in order to fund urgent property projects and due to the current financial climate, there has never been a better time to pick up an overseas property bargain in countries such as Spain, Portugal and the US, than now.
So if you have been dreaming of lazing your days away with a glass of vino on your sun terrace in Spain, golfing to you hearts content on the sunny Algarve or going for a spot of Marlin fishing off the Florida Keys, maybe the key to your front door is also the key to your dream home overseas.
