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Housing wealth and wellbeing: understanding who uses housing equity release products and the impact they have on older people’s lives - scoping study

The UK has an ageing population, placing pressure on housing, health and social care services. Most older people own their homes outright and prefer to remain in the same home as they age, which often requires financial investment, e.g. to pay for home adaptations and care. One way to meet these costs is to release equity from the home. This can be done by moving house, but it can also be done without moving by using equity release products. However, this is a practice about which we know very little.

The aim of this scoping study, funded by the Nuffield Foundation, was to review our existing knowledge base about the use (or not, in most cases) of equity release by older homeowners. It pulled together findings across existing literature, conducted data analysis using different data sets and drew on discussions with key stakeholders to identify what is already known about equity release in later life. The research also identified what was missing from the current evidence base and the key research questions that needed to be tackled in relation to current and likely future policy directions. The report proposed how best to answer these key questions.

 

Project Publications:

Equity release amongst older home owners

There is increasing interest in the role that the use of equity release products can play in coping with some of the pressures of an ageing population. This study analysed what was already known about the use of equity release products by older homeowners in order to identify what might be valuable to research further. The scoping study reviews our understanding and knowledge from research on the use (or not, in most cases) of equity release products by older homeowners. It pulls together findings from the existing literature, reviews different data sets and draws on stakeholder discussions to identify what is already known about equity release in later life, what is missing from the current evidence base and the key research questions that need tackling in relation to likely future policy directions.

Equity release amongst older home owners - Read More…

Equity release round table event November 7th Nuffield Foundation

The Cambridge Centre for Housing and Planning Research at the University of Cambridge has been funded by the Nuffield Foundation to explore the key current issues shaping equity release by older home owners. As part of this research a round table discussion was held on 7 November 2012, in London, bringing together key stakeholders from different sectors to discuss issues shaping the use of equity release now and looking into the future. This briefing note reflects on the discussion.

Equity release round table event November 7th Nuffield Foundation - Read More…

CCHPR Contact

Funder

Nuffield Foundation

Project Start Date

1st March 2012