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Galway seniors use assets E-mail
Written by Administrator   
Wednesday, 29 August 2007
Galway pensioners have never had it so good, according to a study conducted by Seniors Money, which found that many have 28 times the amount of the annual State pension wrapped up in their homes. The Seniors Money survey showed that Galway residents have never been better placed to utilise a small element of their equity to boost retirement income. Average property values in Galway are now running at 28 times the annual State pension income, while ten years ago they were 19 times this sum, while the pension has increased in the intervening years.

According to Danny Jones, Seniors Money Consultant in Galway, “A lack of adequate pension provision and a high rate of home ownership underpin the demand for lifetime mortgages which is expected to grow strongly over the medium-long term.”

Seniors Money is the leading provider of Lifetime Mortgages in Ireland.


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