Home truths of how to fund retirement

Millions of homeowners are still relying on their property to fund their retirement despite recent house price falls.

Three in ten over-50s are planning to use the equity in their home as part of their retirement funding, according to research out today from LV.

Despite estimated average “losses” of £25,000 on home values since 2008, stock market volatility means more over-50s are likely to turn to their housing equity to boost their retirement income.

The study also found that 36 per cent of over-50s still in work expect to delay their retirement for money reasons, while a sixth said they avoided thinking about their retirement finances entirely.