Equity release 'not the only option' for home improvers
Brits planning to invest in a bespoke conservatory or pool house could use equity release to fund it, but this is not the only way of doing so.
According to a financial advisory firm, the equity release market has begun to recover following the banking crisis.
Sixty Plus stated that it was inevitable that the industry would take a dip after the financial downturn as Brits looked to consolidate and ride out the storm.
"It was perhaps natural that the relentless bad news of the credit crunch and banking crisis would make people pause for thought but I think things are gradually getting back to normal," managing director David Wright explained.
While equity release is now becoming a more popular way to finance home improvements and maintenance, the expert suggested that it should only be used once other avenues of funding have been explored.
He said that this method of freeing up cash was fine for some, but not all homeowners.
The comments follow research from Saga Personal Finance which found that a large proportion of Brits over 50 feel their home needs some work done.
Posted by Paul Steel
Bank keeps rate frozen again
The Bank of England's Monetary Policy Committee (MPC) has decided to freeze the base rate of interest at 0.5 per cent for September. It is the 18th consecutive month that the MPC has elected to keep the record low rate of 0.5 per...
Brochure
Would you like some more information on our conservatories? Order a copy of our brochure online today or call
Gallery
View either our residential gallery or our commercial gallery or view a number of our conservatory case studies.
