Baby boomers cash in £400 million worth of property equity

[Nicholas Wallwork]

The UK property market has been extremely strong for some time now which has prompted many of the so-called “baby boomers” to cash in some of their property chips. A recent report confirmed that equity release schemes are becoming extremely popular amongst the older generation who have seen the value of their property increase dramatically.

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Sometimes I am a little confused with those who opt for equity release schemes rather than simply downsizing. Surely there is less potential risk in downsizing your property and banking a profit on the difference?