23 February 2017
According to Key Retirement's Market Monitor report, 22% of equity release customers in 2016 used some or all of the funds released to clear their outstanding mortgages.
Recent research into borrowing habits of retirees in the UK revealed that the average 65 year old has at least £40,000 of outstanding mortgage debt along with £5000-£10,000 credit card debt*.
However, you can help your older customers to clear outstanding debts and supplement retirement income through equity release.
You can call Key Retirement on 0800 138 1663 to discuss any cases.