• Legal & General Income Lifetime Mortgage – A Wave or Ripple Effect for Equity Release Lending into 2019?

    By Mark Gregory on

    This week saw the launch of Legal & General’s Income Lifetime Mortgage plan, following hot on the heels of October’s release of the Saga Regular Drawdown plan. So why the sudden interest for income generation in the equity release industry? Are lenders vying for position, creating their own niches, or actually listening to consumers’ demands and needs? This article looks at why equity release providers feel this product has legs, afterall no equity release scheme since Northern Rock has provided a monthly income payment plan. We’ll look at how it works, whom it suits, compare L&G’s Income plans and discuss…

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  • Legal & General Optional Payment Lifetime Mortgage – A Toe in the Water Before a Dive into the Retirement Interest Only Market?

    By Mark Gregory on

    The recent launch of Legal and General Home Finance’s Interest-Only Lifetime Mortgage has generated a lot of media commentary. The Optional Payment Lifetime Mortgage plan aims to address some of the issues surrounding the plight of over 1.6 million interest-only mortgage prisoners. But is the product worthy of all the fuss? Here we discuss the merits of the Optional Payment Plan and its timely launch – at the dawn of the Retirement Interest-Only Mortgage era. The term ‘Interest-only’ has been synonymous with the economic crash over a decade ago, when poor lending eventually led to a tougher stance by the Financial…

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