A pensioner aged 76 - who mistakenly thought he was not entitled to the state pension - has received a backdated pension windfall of £132,800 after intervention from an equity release adviser.

A large proportion of grandparents thought a recession would be good for their “snowflake” grandchildren, as a new survey revealed 35% had loaned them money, with only half of the cash repaid in full.

New research has revealed a 30% surge in equity release referrals as a wider range of intermediaries seek advice for their clients on accessing property wealth.

Royal London has warned that property wealth in the family home is no ‘get out of jail free card’ for those with low pensions.