|
|
| |
| |
Inheritance Used For First House Purchase |
|
(26th August 2008)
A fifth of prospective homeowners would use inheritance to get onto the first rung of the property ladder, according to new research by Saga.
However, the company, which offers a range of financial products, said that the current generation of retirees are using equity release schemes to improve their quality of life during retirement - leaving their next of kin little or no inheritance.
The new Saga study showed 90 per cent of people surveyed do not expect an inheritance and 72 per cent are happy for their parents to release money from their home and enjoy their retirement.
Andrew Goodsell, chief executive of Saga, said: "The new generation of retirees are bucking tradition and no longer believe their children have an automatic right to inheritance."
"They are using the money from equity release to enjoy their retirement," he added.
According to Nationwide, almost two-thirds of consumers save less than they think they need to as a result of the current economic climate.
|
News brought to you by Start Again Finance, specialists in bad credit mortgage advice, loans, credit cards, savings and insurance |
|
| |
|
|
|
|
|
|
|
|
