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In Conversation With Steve Allen 9pm - 10pm
21 October 2018, 07:59
Andrew Castle scolds equity release plans for being 'too complex' for people to fully understand.
The LBC presenter was speaking after it emerged over 55-year-olds have raised a record £1bn between July and September, using it to pay for car, home improvements and helping their children get on the housing ladder.
The former pensions minister Baroness Altmann said it was 'worrying' to see so many people relying on equity release to fund care, warning that it can be 'very expensive'.
Andrew Castle said that "these are complex financial products and I do not think people really understand the full implications every time."
"I'm a big believer in equity release having the light shone on it."