I’ve just read a report from an equity release provider that surprised me. It has a breakdown of what people use equity release for – the results show that the second most popular use is to fund a holiday. Of course people have multiple uses for the money they release from their homes so it’s not quite as outrageous as it seems but still, 34% of people is a lot. We are talking about mortgaging your home after all.
I’ve written previously that I think it’s an irresponsible tactic to use holidays in marketing but I’m now having to challenge this. Given that so many people do use equity release to fund a holiday, isn’t it justifiable for equity release providers to use it in their marketing? On the other hand… I heard a while back that people use haemorrhoid cream to reduce the appearance of wrinkles around their eyes but, oddly enough, I don’t recall Preparation H advertising this use!