25th June 2025
James Daley of Fairer Finance highlights that over half of people will need to use housing wealth to sustain their retirement by 2040. While the FCA is beginning to address regulatory barriers, he urges the Government and public agencies to also tackle economic and social obstacles. Unlocking this potential could boost consumer spending by over £20bn annually.
James Daley, Managing Director at the independent consumer group Fairer Finance, commented: “Fairer Finance’s recent research report revealed that over half of people are going to need to use their housing wealth to maintain their standard of living in retirement by2040. But if this is going to be possible, policymakers need to act now.
“The FCA’s latest discussion paper makes it clear that they understand the challenge an dare ready to put the wheels in motion to break down the regulatory barriers. We now need to see a public commitment from Government - as well as agencies such as the Money Pensions Service - that they will play their part in breaking down the economic and social barriers that stand in the way of people using housing wealth in later life.
“There is a huge opportunity here - with the potential to unlock more than an additional £20bn of consumer spending a year by 2040. But Government and regulators must work together if we are to achieve this potential.”