Almost a quarter (22 percent) of non-retired homeowners have no retirement savings, a study by Legal & General Home Finance (LGHF) found.
The study also found that 35% of non-retired owners had less than £ 10,000 in their pension funds.
LGHF research found that 22 percent of people planning a later life expected to use the value of their home to fund retirement.
The company noted that insufficient pension funds and high house prices made more people consider using their real estate wealth to fund retirement.
The change was due to the large number of small and empty pension funds, as well as a 24% increase in median house prices in England and Wales since 2016, according to LGHF.
LGHF explained in detail how people expected to use their property in retirement, with 10% planning to downsize, 9% planning to sell their property and 6% planning to access equity through a lifetime mortgage. .
Commenting on the results, Claire Singleton, CEO of LGHF, said: “The significant increase in house prices in recent years has likely changed the expectations many people have about the role that real estate wealth will eventually play in supporting retirement.
“We predict that using your home to fund your retirement will become more common in the future, whether that’s downsizing to free up funds or freeing up money locked in your home through products like loans. lifetime mortgages.
“It’s never too early to start thinking about how you plan to fund your retirement and seek the right advice to get your affairs in order, and for many homeowners, their property could be the key to getting the lifestyle they desire.
Singleton also stressed the importance of these new funding methods, suggesting they should be standardized to help savers “achieve better financial results in retirement”.