An ever increasing number of pensioners are relying on the equity in their home to help meet the cost of retirement, leading to calls for Stamp Duty to be scrapped for pensioners.
Research from LV= has shown that:
34% of people approaching retirement will use the money tied up in their property to help pay for their retirement
The number of people planning to use the equity in their home for this purpose has increased by 50%
Downsizing, which involves selling a more expensive property, to ...