According to provider Just Retirement, confidence in equity release has fallen with retired people reluctant to spend their children's inheritance.
Research found that just 36% of retired people wanted to find a way to boost their income and around half had concerns about equity release plans. The results have followed a warning from the Financial Services Authority that advisers could be giving inappropriate advice when recommending equity release schemes.
The survey showed that 95% of working people would rather their parents had money in their old age, than receive it in inheritance. This view contrasts with the responses from retired people, 95% of who said that they wanted to pass an inheritance to their children, including their home.
Our view
We suggest you read our article on Spending the Kids Inheritance - it may just change your mind.