Pensions vs property: which is best for your retirement plan?

A proper retirement plan will include both property AND a traditional pension. Here's why: Pension or property. Property or pension. When it comes to saving for retirement, many of us are split on the best way to do it. Even Andy Haldane, the chief economist of the Bank of England, was dragged into the debate [...]

What’s the best way to release equity for home improvements?

Q. I would like to know more about equity release. I am a homeowner with no mortgage on my house. I cleared my mortgage back in 2013 when my endowment policy reached maturity. I would like to make some changes to my home, including installing PVC windows and external doors, as well as having a [...]

Average Age of New Customers Edges Up As More Couples Opt For Equity Release

Average Age of New Customers Edges Up As More Couples Opt For Equity Release The average age of equity release customers increased slightly once again in H2 2016, rising from 69.9 to 70.1. This is a second successive rise over a half-year period and brings the average customer’s age back level with that of H1 [...]

The top 5 things you need to know about today’s Equity Release plans

The top 5 things you need to know about today’s Equity Release plans How does a lifetime mortgage work? It’s a mortgage that is not time sensitive, the loan plus any interest accrued is repayable on either upon going into long term care or death. You can choose to pay interest monthly, roll it up [...]

Fall in equity release rates continues to outpace other products

Fall in equity release rates continues to outpace other products When the older generation needs extra cash, for whatever reason, do they consider releasing equity in their home as opposed to borrowing by using a credit card or overdraft?....Looking at the products rates, they should. Average equity release rates fell significantly between July 2016 and [...]

Record breaking year sees equity release growth overtake other types of mortgage finance

Record breaking year sees equity release growth overtake other types of mortgage finance A total of £1.24bn in housing wealth was unlocked by over-55s in H2 2016: 37% more than the £908m in H1 and 38% up on the H2 2015 total of £898m. This growth resulted in a record-breaking year for the equity release [...]

Top 5 most asked Equity Release referral questions

Top 5 Most Asked Equity Release Referral Questions 1. Where do I find business? Your existing client base is always a good starting point, do you have anyone over 55 with an interest only mortgage? Grandparents of first-time buyers to help with the deposit is also a good route to business along with professional connections [...]

£2.15bn year for equity release market sees annual growth rate double

£2.15bn year for equity release market sees annual growth rate double The total value of equity release lending surpassed £2bn for the first time in 2016 marking a landmark year for the sector, according to the latest figures from the Equity Release Council. Overall lending reached £2.15bn for the year, an increase of a third [...]

Is “Equity Release” still a bad word?

Is “Equity Release” still a bad word? As we all know, the population of the UK is ageing. According to the Office for National Statistics (ONS), the number of over 65’s has grown by 1.7 million people since 1985. The predictions are that by the year 2035, the over 65’s will reach almost a quarter [...]

Millions of homeowners facing ‘mortgage time bomb’

The ever increasing cost of living is eclipsing thousands of people's prospects of retiring completely debt-free, with over 100,000 homeowners aged 65 and over still struggling to pay off their mortgages. Equity release lender, more 2 Life, who compiled the research, believes the issue is a result of changes to traditional working patterns, as well [...]