Homes used as 'cash machines'

Research by the Equity Release Council (ERC) reveals that one in five retired home owners are considering equity release to fund home improvements so that they can receive care in their homes. Figures released by ERC in their latest Equity Release Market Report, show that more than £375million was borrowed in the period July to September 2014. In many parts of the country, rising house prices means that older people have a growing pool of equity at their disposal. As reported in the Daily Telegraph last week, "the affluent elderly... seem to be one of the genuine growth markets left."