Home Advantage is a major study that draws on analysis of government, regulatory and industry data and is supplemented by one of biggest surveys of consumer attitudes and behaviours to date, tracking the attitudes of more than 5,000 UK adults over two years.
It is being published by the Equity Release Council over a series of articles that will be posted on this page. Our thanks go to Canada Life and Equity Release Supermarket for supporting the project.
MARCH 5 2024
More than half a million (515,067) homeowners who are still paying a mortgage beyond the age of 55.
Almost one in six (16%) of this older group say the burden of mortgage debt is holding them back from retiring completely, up from 14% in 2021.
One in ten (10%) say their loan is stopping them from reducing their hours at work, more than double the number impacted in 2021 (4%).
FEBRUARY 9 2024
Almost half (46%) of people today do not feel confident about their finances for the future, a striking increase from 35% two years ago.
The nation’s loss of confidence has hit older age groups the hardest, as people reassess their retirement prospects in the face of economic and political uncertainty. People aged 65 to 74 have been the worst impacted.
Fewer than one in five (18%) lacked confidence about their future finances in 2021; that percentage has since soared to 39%.
