Consumers may be taking out home reversion plans to buy stoves

Many people invest in stoves to enhance the way their properties look and the level of comfort they provide. It seems that some of these consumers may be using home reversion plans to help them achieve this goal. By releasing equity in their homes, consumers can free up cash to make a range of purchases, including wood burning stoves.

Research conducted by Bridgewater Equity Release revealed that 43 per cent of its clients used financial arrangements like this to fund home improvements.

Indeed, revamping properties was the most popular use of money accessed in this way. It came above paying off mortgages, travelling and buying a car.

Commenting on the findings, head of sales and distribution for Bridgewater Peter Welch said: “There are a whole manner of ways customers are using their accessed equity to fund smaller purchases, improvements to their homes or to have funds available should an emergency arise.

“Flexibility is absolutely key here and this data goes some way to proving that releasing a smaller amount of equity is compatible with funding lifestyle choices.”

Individuals who decide to purchase new stoves for their properties, whether they sourced the money for the products via home reversion plans or not, can now head online to take their pick from a range of products.

Indeed, a rising number of people are using the web when they are on the lookout for wood burning stoves and other items. Figures produced by the Interactive Advertising Bureau revealed that 87 per cent of web users in Europe regularly shop online, while 19 per cent do all of their shopping over the internet.

It also revealed that the vast majority (96 per cent) of internet users in Europe look at websites to do research before they go ahead and spend their cash on items.

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