If you like, or learn, from anything you read and would like to contribute to the debate, or ask some more questions, you will find a range of options at the end of this piece as to how to contact us and voice your opinions.


Let’s face it, for most people, saving money regularly can be a chore and just so hard when faced with the additional challenges of just living! Raising a family, schooling, replacing the car, going on holiday – where does the list end?


Add in the additional commitment for retirement planning and most of us lose the will to live! With life expectancies increasing towards 90 we will spend nearly as much time not working, in retirement, as we did working preparing for retirement. Isn’t that scary? Assuming you are not ready to give up on life, in your 60’s & 70’s, you will still want to go on holiday, replace the car, eat out and possibly still help your children and grand-children. They may have left the ‘nest’ many years before, but they are still your children and you could still be helping them out – be it financially or with your precious time.


For most us, who do not put in 40 years-service for a big corporate, the likely retirement pot will not be anywhere near enough to create an income in retirement to meet your desired expectations. For many people the family home is often talked about as the main source of savings for retirement.


If that is the case what are your options? For many of us the only obvious option is selling, and downsizing, or going into rented accommodation. But is that right for you? Is that what you want? To downsize while you are still fit, and reasonably young, and still wanting the pleasure, and use, of your home might not be your preferred route.


one stop finance

Your house is your Pension! Isn’t it?


So what is the answer? How can you still have use of your home and additionally create funds to help with your retirement plans? One option that you might like to explore is the release of some cash from your house to help create a retirement pot – this is commonly known as ‘Equity Release’.


Something you might not have considered is that all funds released from your home are ‘tax-free’. That’s right. Any cash you extract be it a regular income, known as drawdown, or a lump-sum for a large capital expenditure is 100% ‘tax-free’. How good does that sound?


“The figures, from the Equity Release Council, show that the value of equity release lending totalled £393.9m in the first quarter of 2016, an increase of 21% year-on-year and the highest Q1 lending figure ever recorded. Furthermore, a total of 5,175 new equity release plans were taken out during the three-month period, an increase of 6% from Q1 2015 (when 4,880 were taken out), and the first time the number of new plans has surpassed the 5,000 mark in a first quarter since 2009.” *


So if you have any views on this piece we would love to hear from you. Perhaps maybe you have some questions or want to share with us your own experiences. You can write to us at infolondon@osfg.co.uk or, if you prefer to talk to a human being you can call Marcus, or Steve, on 020 8441 2605.


Sources – * – http://moneyfacts.co.uk/news/retirement/equity-release-enjoys-record-start-to-the-year/