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Centre for Policy on Ageing | |
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| Can equity release help older home-owners improve their quality of life? | | Author(s) | Rachel Terry, Richard Gibson |
| Corporate Author | Joseph Rowntree Foundation - JRF |
| Journal title | Solutions: lessons for policy and practice, 2429, January 2010 |
| Publisher | Joseph Rowntree Foundation - JRF, York, January 2010 |
| Pages | 16 pp |
| Source | http://www.jrf.org.uk/publications/equity-release-... |
| Keywords | Home equity release schemes ; Owner occupied dwellings ; Quality of life ; Consumer ; Pilot. |
| Annotation | Around a million older home-owners have at least £100,000 of housing equity, yet their incomes are so small that they qualify for means-tested benefits. If these people could draw on their housing equity easily and safely, they could afford practical help which would improve their quality of life and make it possible for them to continue to live in their own home. The Joseph Rowntree Foundation (JRF) has been working with interested local authorities, the equity release industry and their representative body SHIP (Safe Home Income Plans) to find an equity release product designed especially for home-owners on Pension Credit. Three local authorities (Islington, Kensington & Chelsea, and Maidstone) are now piloting equity release schemes to be independently assessed by JRF. Part 1 of this Solutions looks at how the equity release product (the Home Cash Plan) was developed, how the pilot authorities devised their schemes, and how the assessment will be carried out. Part 2 provides a toolkit for local authorities interested in pursuing equity release schemes in their own areas. (RH). |
| Accession Number | CPA-100203004 E |
| Classmark | WQB: KEA: F:59: WY: 4UC |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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