Homeowners preparing for retirement are more open to professional advice on equity release than those already retired, according to Just Retirement.
The equity release specialists said that it highlights a lack of knowledge of the plans on offer, how they work and the safeguards the industry has.
According to a survey commissioned by Just Retirement, opportunities for advisers to discuss strategies for using housing wealth in retirement peak as people prepare to give up work.
Group director of external affairs and customer insight Stephen Lowe said: ““The run-up to retirement is a time when people look at their finances carefully and start planning how best to use or pass on their wealth.
“Increasingly, for baby boomers who have benefited from rising house prices, that involves looking at how best to use the wealth tied up in their homes.”
Overall, the study found professional advisers were the preferred source of information on equity release in 19 per cent of cases, but for those set to retire in the next year this more than doubled to 39 per cent and for those one to two years out it was 36 per cent.
Loading ...