Retired Britons who are experiencing debt management difficulties may benefit from contacting the Consumer Credit Counselling Service (CCCS), which has just launched a new equity release programme.
The initiative will be fee-free and is aimed at helping people improve their quality of life while avoiding repossession, with the organisation noting that there has been a steady climb in the average age of people looking for debt help.
Chairman of the CCCS Malcolm Hurlston said: “The judicious use of equity release can transform the future for many older people,” adding that the trust is seeking to make this and good guidance available, as well as develop better products.
“Thanks to the increase in home ownership, many of them have access to capital which can free them of unsecured debt,” he continued.
Meanwhile, recently published figures from the Conservatives revealed that the number of pensioners struggling with fuel poverty is rising, with a four-fold hike being seen in the last five years.
By Sarah Adie