What do you do when you retire to your property? Well, if you are planning to sell your home, pay off your large mortgage and use the money to finance your lifestyle, you're not alone. A new survey of consumer attitudes has determined that it is a a generational difference between the views on your children leave inheritance.
Repay a premium mortgage plan and leave your home for your children? Or do you plan to use your home to fund your retirement? Keep reading, change our attitudes to provide for our children on our death to find out how.
The past pensioners who left an inheritance less worried about their children
The only retirement research found that people tend to use the approach to retirement, are housing equity to finance their lifestyle as passing her home for the inheritance. However, the survey also showed that the pensioners of different ages vary settings.
Only retired found that older retirees were more likely to think to leave a duty, something to the next generation. On the old-age pension or benefits, who felt recently has retired, passing the apartment would be nice to do, was but not necessary.
Stephen Lowe, group head of external relations and customer insight in just retirement, said that older retirees felt she had worked hard to own their own home and are therefore more likely to want to pass. The younger generation have increasingly different priorities.
The priority for the in the run-up to retirement is, how man enough to receive income to a decent standard of living.
Given the depressed bond is, the inheritance is far less important.But it's not entirely selfish. It was a feeling, they had done enough for their children, and the children were often in a better financial position than they were. Certainly the adult children who we interviewed agreed this approach and did not want that their parents to cut back, simply to leave a legacy.
Mortgage introducer reported that the survey showed that there was a high level of interest where disclosure could enjoy money before death so pensioners it is used to see, although few knew that this could be beneficial for purposes of inheritance tax.
Overall, 55 percent of those surveyed agreed that she would prefer money, while still alive while 30 percent disagreed. This number is his consent and only 17 percent of disagreed at the recently retired later with 70 percent.
Islay Robinson, Director specialist large mortgage broker of Enness retail, said: "increasingly wealthy mortgage customers see their property as an asset that can achieve in the future. This may mean to repay a large mortgage and "Downsizing" or sale on and use the money to supplement her pension and investment income.
"However, many high-quality mortgage of clients still leave their homes, their children and continue to take professional mortgage and tax advice on the best way to do this."
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