May
4
04/05/2007
Most people look forward to retirement as a time when they can spend more time with family and friends, do some travelling, take up a hobby or simply relax. Ideally, that’s exactly what retirement should be, but for some the ideal and the reality are worlds apart.
The people who can count on company pensions – especially final salary schemes – are becoming fewer and despite warnings many of us choose to spend our hard earned cash rather than put sufficient money into our pension plans to allow us to remain affluent after we retire. The Pensions Advisory service has this week said that as many as ten million employees could have a shortfall in their pension because they are not part of a company pension scheme.
As house prices increase and people take on larger mortgages or release equity in their homes to fund other purchases, it is becoming more common for mortgages to extend past the normal retirement age. For these people a significant drop in income could be a real problem; the only solutions to which are to continue the mortgage over a longer period of time and hence reduce the monthly payments, or sell up and move to a less expensive property.
If you find yourself needing to sell your home to liquidate your assets you should bear in mind the services offered by Property Rescue. Realistically priced homes in sought after areas are likely to be snapped up by buyers, but for those that are in need of repair, have structural problems or are less attractive to the average buyer, a sale may be hard to come by. Property Rescue guarantee to buy your property, no matter what its condition. Get in touch to explore the options rather than continue the struggle of managing a debt you can ill afford.