Released on = May 4, 2007, 2:45 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = A survey by the Social Issues Research Centre (SIRC) has
highlighted the financial precariousness of many Britons approaching retirement age
says National Homebuyers.

Press Release Body =

According to the \'freetirement generation\' report, which was commissioned by UK life
and pensions provider Friends Provident, 68 per cent of retirees need more than
their state pensions to fund their lifestyles.

What\'s more, only four per cent of those polled believe they would be able to live
comfortably on a state pension alone.

As a result, an increasing number of Britons approaching retirement are considering
equity release in order to ensure they are in good shape financially.

\"Whilst the recent modest state pension increase may see more going into people\'s
pockets each year, our research has found that the vast majority of people need far
more money than the state provides in order to live comfortably,\" Jeremy Ward, head
of pensions marketing at Friends Provident, confirmed.

\"By ignoring how much they need to save to live comfortably in retirement or how
soon they need to start saving, many Brits are facing a potential pension
shortfall.\"

The pension crisis continues to interest UK property purchase company National
Homebuyers. Director Julian King sees evidence that retirees are finding alternative
ways to raise equity to fund their retirement.

\"We receive increasing volumes of enquiries from people enquiring about our sell and
rent back solution, where homeowners of any age are able to sell their property but
remaining living in their home, as a tenant,\" he said.

\"People are living in their biggest financial asset and we have streamlined and made
simple the releasing equity process.\"

Web Site = http://www.nationalhomebuyers.co.uk/newsarticle.asp?ID

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
08709798118