- Tuesday, 10 March 2009More homeowners in Britain could need
IVA help than those in Northern Ireland, according to figures from Key Retirement Solutions.
The organisation reveals that Northern Ireland residents are more likely to use equity release in order to tackle their outstanding debts.
But people elsewhere in the UK are more likely to release equity from their homes in order to provide loved ones with more spending money.
This failure to address their own finances could see some left needing
IVA help should they later experience economic difficulties.
However, the decision to get an IVA could prove to be of long-term benefit, in light of comments from the firm.
Dean Mirfin, business development director at Key Retirement Solutions, says: "Whilst few appear to release equity for an extra monthly income, many incomes are directly improved by the repayment of debt."
He also recently advised that having more funds available in retirement can help some pensioners to stay in their own home as they may be able to afford specialist care services in order to retain their independence.
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