Many people are hoping equity released from their homes will help to finance retirement, it has been claimed.
Des Hamilton, technical director of The Pensions Advisory Service (Tpas), said with property prices having increased significantly over the last few years, a number of people expect prices to continue rising.
However, while this may be a "misconceived idea", Mr Hamilton suggested that releasing equity is not always as "easy" as some people think.
"It may involve substantial downsizing … [and many] may find that the true value of their property never really produces that equity that they looked forward to," he commented.
Despite this, people often think that simply by having a property they will be able to fund part of their retirement, he added.
Matt Ward, principal consultant of pensions and wealth management at Defaqto, recently said that a significant number of adults in the UK are "sleepwalking" into their retirement.
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