Released on = August 23, 2007, 7:02 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = Millions of people in the UK are retiring with massive debt
hanging over their heads.

Press Release Body = That is according to figures from Scottish Widows, which shows
that one in five retired homeowners are still paying their mortgage.

The average amount owed sits at a crippling £38,000 and this is leading to real
financial difficulties for many people.

\"Our research shows that by the time they come to retire a significant number of
pensioners still have a mortgage outstanding on their property, adding financial
pressure to their hard-earned retirement fund,\" said Ian Naismith from Scottish
Widows.

\"It is important for those people who will be reaching retirement in the next few
years, and still have debt outstanding on their mortgage, to consider how best to
prepare themselves for the eventuality of having to juggle their debts on a reduced
income when they stop working.\"

Many people can avoid the financial squeeze of having to make monthly mortgage
payments from their pension fund by cashing in on their property and making a quick
property sale.

National Homebuyers is the country\'s leading quick sale property company and it
advises retirees to assess their options.

\"Many people are now considering equity release options,\" says director Chris Newman.

\"Our Sell and Rent Back option has seen a massive surge in enquiries over the last
six months from people who simply want to release the equity in their property while
prices are up, remain living in their home and enjoy the lifestyle they deserve.\"

National Homebuyers\' equity release scheme \"Sell and Rent Back\" is a simpler version
of most equity release schemes and there is no minimum age requirement.

Web Site = http://www.nationalhomebuyers.co.uk

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
0870 979 8118
Fax: 01444 257333
info@nationalhomebuyers.co.uk