Report probes equity release for care funding

The Housing LIN has published an on-line study of equity release and its possible use in funding social care.

As well as analysing current equity release schemes and models, Rainy Days,Silver Linings assesses social and political attitudes towards equity release and to what extent people accept that part of the value of a home should be used to fund long term care.

While the report acknowledges that it is appearing at a time of turbulence in the housing market with falling prices, it says that over the long term home equity increases significantly. It says many current equity release schemes have an image problem while the public also remain hostile to the concept of using cash released through such schemes for care.