• How Flexible are Lifetime Mortgages for Residential Interest-Only Customers Looking to Escape & Maintain Status Quo?

    By Simon Maher on

    There has been much publication around the subject of interest-only mortgages in the residential property market and later life lending. One option for people stuck with interest-only mortgages and looking for a solution to repay and maintain status quo, is a lifetime mortgage. Here I wish to explain how the many flexible features of lifetime mortgages can help people in such situations. Over the last few years lifetime mortgage lenders have become more creative and launched more products to satisfy the ever-increasing growing demands of Lifetime Mortgage customers. As an equity release specialist, I have been advising on this product…

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  • Would You Support Your Parents to Take Equity Release?

    By Mark Rumney on

    Having advised on equity release schemes for over 17 years, I’m fully aware withdrawing capital from your home is a very important decision. It is probably the biggest financial decision you may take during later life. It is, of course, usually the largest asset by far that any of us will ever own, and will have been paid for through hard work during our working lives. It’s therefore fully understandable that clients who are considering a lifetime mortgage often ask these similar questions: • Are many people doing these schemes? …

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  • 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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  • What Are the Long Term Costs of Equity Release Schemes?

    By Mark Rumney on

    One of the most enjoyable aspects of being an equity release adviser is that every customer is different, and have their own unique set of personal circumstances. One of the main areas concerning my equity release clients is how much equity release will cost them over the longer term. We can calculate the maximum amount of borrowings initially using an equity release calculator, however calculating the actual balance to be repaid upon death or long term care is a different calculation. My clients vary significantly, from those who have no interest at all in what will…

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  • Why the OneFamily 2.96% Variable Interest Rate is a Game-Changer for the Future of Equity Release

    By Mark Gregory on

    Launching a unique range of variable & fixed rate equity release schemes, the OneFamily ‘Lite’ & ‘Standard’ plans may herald the start of the greatest innovation the equity release market has seen. Where many have dared, OneFamily boldly go where no equity release has gone before: The Final Frontier – Variable Interest Rates! The significance of a variable equity release interest rate should in no way be underestimated, as it marks the end of a long journey that has seen a lack of innovation in lifetime mortgage product design. Understandably, there are economic & regulatory factors that may have influenced…

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  • What Borrowing Options Exist with Old Prudential Equity Release Plans?

    By Mark Rumney on

    The first quarter of 2016 has seen a huge amount of equity release lending. Equity Release Council statistics show that £393 million pounds of equity was released from UK homes. The vast majority of these funds have been released to customers using equity release schemes for the first time. However, some of this money has been released by existing customers of companies who no longer offer equity release; one of whom is the Prudential. Here we look at what options are available to existing

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  • Equity Release 2016 – The Changing Landscape

    By Allen Tomlinson on

    Looking back a mere 12 months or so, the landscape of Equity Release and in particular, Lifetime Mortgages has changed dramatically. Yes, the number of people utilising some of the wealth generated in their property has increased to a record level equating to over £1.7bn in 2015, but this has been driven in no small part by the innovation shown by the equity release lenders to provide ever increasing choice and flexibility in the plans made available to those 55 and over. Equity Release Voluntary Repayments – New Freedom of Choice The greatest change to the equity release marketplace…

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