Equity release in uncertain times

15 July 2020

The uncertainty created by coronavirus 

If you’ve felt your world has shifted due to the coronavirus pandemic – and you’re not quite certain how your new landscape will shape up over the coming months and years – you’re not alone. Researchers from the Federal Reserve Bank of San Francisco have called it The Uncertainty Channel of Coronavirus (March 2020). Professor Mark Freeston of Newcastle University has pulled together an international Uncertainty in Coronavirus Research Network’ to study the psychological impact of what he calls the global climate of uncertainty’, with the aim of exploring the relationship between uncertainty and distress in the context of COVID-19’.

Financial planning in uncertain times 

When your world has been turned upside down, and you can’t see what shape it will take when it finally settles again, it can be hard to plan for your future. In such uncertain times, whatever planning you do needs to be able to accommodate the unexpected and give you margins to allow for a range of potential scenarios. 

This is especially true of financial decisions, which need to be able to adapt to support changing circumstances for you and your loved ones. With the government scaling back support for the furlough scheme and mortgage, loan, personal and business taxes that have been postponed becoming due over the coming months, it’s clear that the full repercussions of the coronavirus crisis have yet to be felt, both for the economy and for individuals. 

Flexible equity release products 

If you’re considering releasing equity from your property to help realise your retirement dreams, ease your day-to-day finances or help support loved ones during these uncertain, and challenging, times, there are a number of equity release products that offer flexible features that mean you won’t be straightjacketed if your circumstances change: 

Coronavirus has created new uncertainties for almost all of us, but flexible equity release products give you the ability to plan for the unknown. Our expert equity release advisers would be delighted to talk you through the options to consider whether any of them might be a suitable solution for your personal circumstances. 

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