Revealed: How much famous faces including the Queen could make by cashing in their property through equity release schemes aimed at ageing homeowners (not that they’d need to use one!)
- Age Partnership has compiled a top ten list of equity release sums for celebs
- The Queen comes in at number one closely followed by former PM Tony Blair
- Equity release is a solution that enables over-55s to access the money they have tied up in property, to spend as they wish during retirement
Equity release is well on its way to becoming one of the most popular means of funding later life for over 55s.
Allowing owners to access a lump sum of cash that had been tied up in equity in their prime asset – their home – while still allowing them to retain it, offers a way for retired people to fund their golden years.
But ordinary homeowners aside, how much cash could the country’s most famous faces access via their palatial properties?
Equity release specialist, Age Partnership has compiled a list of the people sitting on the top 10 biggest potential cash injections.
Not surprisingly straight in at number one is The Queen.
Equity release specialists have worked out what the rich and famous would pocket from their properties, with the Queen theoretically releasing over £1.2billion in property equity
Foxtons estate agents recently valued Buckingham Palace at £2.2billion, meaning her Majesty could release over £1.2billion in property equity, which should just about cover the cost of all her great grandchildren’s weddings.
In second place is former PM Tony Blair, whose home in Connaught Square, London would allow him to release £2,890,000 in property equity – enough to buy Cherie and himself Kanu Island, off Belize in Central America.
Coming in at number three is Sir David Attenborough, who could release a cool £1,846,350 in equity and buy himself a 221 acre estate in Scotland and a Unicat Amerigo to explore his purchase.
In second place is former PM Tony Blair, whose home in Connaught Square, London would allow him to release £2,890,000 in property equity
After downsizing from a £4million pound pad to a £2.6million property, Britain’s favourite baker, Mary Berry wraps up our top five
Elton John, who is lucky enough to have properties dotted all around the globe is number four on the list.
His UK Woodside home alone would allow him to release £1,800,000, which should be sufficient to get control of York City FC and allow him to try and re-enact the Watford FC rags to riches story.
After downsizing from a £4million pound pad to a £2.6million property, Britain’s favourite baker, Mary Berry wraps up our top five.
David Attenborough comes in at number three able to release enough to purchase a 221 acre estate in Scotland and a Unicat Amerigo to explore his purchase
The 83-year old could release enough cash from her new four bedroomed Henley home for over 67,000 afternoon teas at luxury Yorkshire tea room Betty’s
Equity release is a solution that enables over-55s to access the money they have tied up in property, to spend as they wish during retirement.
A Lifetime Mortgage, which is secured against a homeowner’s home, allows them to retain 100 per cent ownership of their home, and not have to make any monthly repayments as the money is paid back when they either die or move into long term care.
EQUITY RELEASE RICH LIST
Sir David Attenborough
Eamonn Holmes & Ruth Langsford
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