Abstract
More than two million older home owners have housing assets worth over £50,000, but incomes so low that they qualify for means‐tested benefits. Drawing on housing equity could improve their quality of life significantly, helping them to live more comfortably in their own homes for longer. But only about 25,000 home owners (of all ages and incomes) conclude equity release deals each year. This paper identifies the obstacles that deter asset‐rich, income‐poor older home owners from drawing on their housing equity, and suggests ways of overcoming them. The focus is on paying for additional care at home, home improvements and repairs.
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