• Why Retirement Advantage’s New Buy-to-Let Equity Release Helps Tip the Balance Back in Landlords Favour

    By Mark Gregory on

    The launch of new buy-to-let equity release schemes from Retirement Advantage shows how this emerging financial services sector is positively looking to help innovate in the 55+ marketplace. This article focuses on how these re-introduced BTL lifetime mortgage plans can give a welcome boost to landlords who’ve recently been affected by changes in rental taxation and stamp duty. The concept of taking equity release on rental properties isn’t new to the lifetime mortgage industry. Post economic downturn, now over a decade ago, NewLife Mortgages bravely launched a Landlord equity release scheme that tried to help breathe life back into an…

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  • The answer to your retirement adventures

    By Carrie Ann on

    Retirement is a time to relax and enjoy life, but many people spend most of their retirement worrying about money and budgeting. If you can relate to this, and have your own main residence, this can be used to alleviate retirement finance by consider releasing equity on it. For a increasing number of over 55’s, equity release is becoming a common route to boosting your finances, so that you can truly enjoy your retirement. Equity release helps open many avenues of retirement options, from holidays abroad, to stay-at-home hobbies like gardening and caravanning. Thousands of retired people across the UK are…

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  • Equity release helps over a dozen first time buyers a week

    By Carrie Ann on

    Nowadays, becoming a homeowner for the first time is increasingly difficult. With average UK house prices standing at £223,257 as at June 2017, it means that, in the current climate, a deposit of between £11,150 (5%) and £22,300 (10%) is the minimum needed. In areas such as London, a 10% percent deposit for an ‘average’ home is an eye-watering £48,000. So how are first time buyers funding their purchases? Aside from savings and loans from financial institutions, there is now a great new option for parents to help their children become homeowners. Equity release is a way of using the…

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  • How to help your family with education fees

    By Carrie Ann on

    Most parents want their kids to do well in life, and getting a good education is often key to achieving this aim. Yet, with the average student graduating from college or university with over £50,000 in debt, getting a good education is a very expensive business. Inevitably, parents will want to chip in where they can to make a dent in the debt mountain, whether by helping with their child’s education fees, paying towards student accommodation or other expenses. But what are the best ways to do this? Many parents set up savings accounts for their children from an early age,…

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  • Keeping wealth within the family

    By Carrie Ann on

    Late middle age may have its drawbacks, but for many people, it brings multiple benefits. With the mortgage often paid off, and hopefully years of fruitful retirement beckoning, many people’s thoughts turn to how best to use the wealth they have accrued over their working years. For the majority of people approaching retirement, the concern uppermost in their minds is passing those benefits on to their family, without the threat of Inheritance Tax looming. Whether that’s helping your children pay off their debts or giving your grandchildren some money to see them through university, providing financial aid to loved ones is…

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  • Using equity release to pay off mortgage

    By Carrie Ann on

    Do you have an interest-only mortgage? It is close to reaching maturity? Do you have enough money set aside to pay it off? If not, you’re not alone – it is thought that around 85,000 interest-only mortgages will reach maturity this year, with a similar number next year. Many of the people behind those thousands of mortgages will not have the financial means to pay off the considerable debt typically left at the end of an interest-only loan – where monthly payments only account for the interest accrued, not the original capital. Indeed, the Financial Conduct Authority believes a sizeable proportion of…

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  • Why returning British expats may face a property nightmare

    By Carrie Ann on

    While Brexit may well mean Brexit, nobody yet knows exactly what this will mean for thousands of people living both in the UK and in Europe. European workers, students, employees of European firms and pensioners are all potential ‘losers’ following the referendum to leave the European Union. According to financial experts, one group who may have particularly worrying times ahead are British expats. Thousands of British people, many of whom are pensioners, currently live in European countries. According to the Office of National Statistics, around 300,000 British people are living in Spain, 185,000 in France and 65,000 in Italy alone. With confusion…

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  • Can I still leave an inheritance

    By Carrie Ann on

    For many of those contemplating an equity release plan, leaving an inheritance for their beneficiaries is one of their main concerns. Although the interest that accrues on the cash freed up from this exercise is, in almost all circumstances, not payable until after death, it can potentially swallow the entire value of a property. This is one of the reasons why it is essential for anyone considering equity release as a way of funding their retirement to seek expert advice and also involve the people this will eventually impact on – the family. Leaving an inheritance is something that many…

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  • Do I need equity release advice?

    By Carrie Ann on

    Increasing numbers of homeowners are finding themselves in the old cliché of becoming ‘asset rich and cash poor’ when they reach retirement. While this may be less of a problem while still working, it can assume greater significance after retirement, or when someone is looking to scale back their working hours in preparation for retirement. These are the points at which many people start to think about ways to realise some of the value of their home, while still living in it. Some may consider downsizing, but others may seek equity release help. The question that then follows is where…

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  • How to pay care home costs

    By Carrie Ann on

    We may all be living longer these days, but that brings its own issues. Poor health in advanced old age means many of us end up struggling to live independently, and have to accept help from carers if we want to stay in our own homes, rather than go into residential care. The price of such home care can be prohibitive, and there is no guarantee that your local authority will offer much in the way of financial assistance, either, especially if you have savings or other assets. Many older people who need help to pay care home costs end up…

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