NATIONAL HOMEBUYERS OFFERS PENSIONERS A LIFELIFE AS THE GOVERNMENT DITHERS

[20th April, 2006]: National Homebuyers, the country's leading consumer facing property purchasing company, today announced a ‘Release of Property Equity'initiative aimed at helping those worst affected by the pension crisis.

David Harber, Communications Director of National Homebuyers believes the 6th April's A-Day Turner pensions report has failed to deal with the problem of the final salary pension schemes, and the pensions crisis in general.

David also believes that the blame lies firmly at the government's door, with little corrective action to date and previous misleading information dating back through previous governments.

The Turner Report, analysts have warned, will have little effect on boosting saving levels amongst the less well off. The Parliamentary Ombudsman states the government should compensate 85,000 of those who have lost all, or part of their company pensions. Yet, decisive Government action to help those worst off seems to be non-existent. Indeed, the Turner report, far from dealing with the crisis, has only resulting in a split between the Prime Minister, and the Treasury.

This has left those approaching the end of their careers with little option of how to support themselves in their retirement, and needing quick solutions in order to stay afloat financially. Most recently BA, Harrods and IBM have announced changes to their pension provision.

As a result, National Homebuyers have announced their ‘Sell and Rent Back'plan; buying property from those that need access to their cash fund tied-up in their property, with the ability to rent the property back indefinitely.

National Homebuyers guarantee:

* to make a formal offer on every property surveyed , whatever the condition or location

* use of an independent RICS surveyor to confirm the value of each property

In addition, the property can be rented back to the vendor after the sale.

David Harber, Communications Director of National Homebuyers said; “It is impossible to think that in this day and age, people who have saved as advised by the Government are now facing an uncertain future in poverty. Whilst the Government dithers, and corporations are left having to take action, it is those employees that have paid their own money into these schemes and are left destitute that are suffering.

“We want to be able to offer to throw those abandoned a lifeline, and help them live at least some of their retirement dreams, yet still live in their home should they wish.”