Equity value of Property is increasing due to which more and more Britons are going for secured loans.
April 18, 2007 (Press Release) --
LONDON, 14th April, 2007: As per the new Prudential report, in the past few years the amount of money held in brick and mortar across UK has developed.
The value of property and other assets have grown by approx. 13% in the past five years, where it was just 1.3% for financial assets like savings accounts and investment funds.
This implies that people have a good equity value in their property which allows them to borrow much with the help of secured loans and homeowner loans.
As per Ali Crossley from Prudential, "It is interesting to see how important property has become in constituting our main source of financial wealth. House prices have risen significantly over the last 20 years and this is one of the reasons why we have seen such a shift in wealth components."
He also said that "This is good news for people who are considering using their property as part of their retirement planning portfolio, especially for those who will need to supplement their state and work pension.”
The value of property and other assets have grown by approx. 13% in the past five years, where it was just 1.3% for financial assets like savings accounts and investment funds.
This implies that people have a good equity value in their property which allows them to borrow much with the help of secured loans and homeowner loans.
As per Ali Crossley from Prudential, "It is interesting to see how important property has become in constituting our main source of financial wealth. House prices have risen significantly over the last 20 years and this is one of the reasons why we have seen such a shift in wealth components."
He also said that "This is good news for people who are considering using their property as part of their retirement planning portfolio, especially for those who will need to supplement their state and work pension.”
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