Millions face financial difficulty due to retirement ignorance says National Homebuyers

More than 50 per cent of Britons risk facing financial difficulties in the future because they do not know how much they should be saving for their retirement.

[UKPRwire, Sat Dec 08 2007] According to Abbey Mortgages, 53 per cent of people are unsure how much they need to have a comfortable retirement.

It means that many people will find themselves in financial difficulties in the future.

"Clearly Brits are not saving enough for their retirement," said Reza Attar-Zadeh, Abbey's head of savings.

"This is of particular concern, with the move from final salary schemes to money purchase schemes, which means increasingly people need to take personal responsibility for saving for the future," she added.

Homeowners can avoid financial difficulties by securing a fast property sale and releasing the equity which is locked up in their property.

Fast cash for homes expert Julian King adds, "Homeowners considering an equity release product should be aware of the benefits of Sale and Rent Back products.

"As the UK's leading provider of Sale and Rent Back products, we are assisting thousands of homeowners with a solution to their accomodation, financial and retirement concerns in one go".

Mr King is a director of National Homebuyers, the UK's largest quick property sale firm and the UK leaders in Sale and Rent Back agreements. The company guarantees a fast property purchase for homeowners who need to sell quick.