Equity release and the property market in Hampshire
Hampshire has long been considered a very desirable place in the UK to live. With both beautiful countryside and coastal locations on the doorstep, it also has a mixture of vibrant villages, busy towns, and port cities. Do you own a Hampshire property and are wondering what it could be worth and what that might mean in terms of releasing equity from it? According to Rightmove in 2020, the average price of houses in Hampshire was just over £344,000, whilst detached properties in the county sold for £533,000. The most expensive area in Hampshire was Brockenhurst, with an average selling price of £894,000.
According to the Land Registry, over the last 25 years, house prices have increased fivefold. A home in Winchester that cost just over £84,000 in 1995, for example, now has a price tag of £395,000. So, if you invested in bricks and mortar in Hampshire some time ago, the chances are that you will be asset rich. If you are thinking about ways in which to make your retirement more enjoyable and are considering equity release, please call us. We know that many people do not want to leave the homes they have lived in for many years and with a lifetime mortgage, you will remain the owner of your home until you pass away or move into long-term care. One of our experts will be able to talk to you about your financial situation and discuss the benefits and wider impact of equity release. All consultations are held free of charge and without obligation.