Innovation, Progress & Development Within the Equity Release Market

By Mark Gregory on

Equity release in 2016 is set to continue its strong growth from 2015 which broke all previous retirement lending records. With new lenders such as Legal & General entering the market it has inspired more confidence with the general public that is now seeing equity release schemes as a ‘safer bet’ for their retirement solutions.

Hello there,

It’s fair to say it’s been a busy start to the year for equity
release and the rise in popularity we saw throughout 2015 looks set to continue throughout 2016.

Key figures in the industry have highlighted that the growth
we have seen over recent years is set to continue and with new and improved products being released all
the time, it seems lenders are investing to ensure expectations become reality.

In this edition we explore some of the reasons behind the continued drive for
innovation and the key success story of 2015.

We also celebrate our relationship with legal services provider,
Ashfords who are generously offering our customers even greater value for money when using their services…

mark
mark gregory, founder

One of the major influencing factors and success stories of
2015 was the entrance of Legal & General Home Finance to the equity release market.

Legal & General acquired existing lifetime mortgage company New Life Mortgages early in 2015.
This enabled them a quicker ‘back-door’ entry to the market than seeking PRA & FCA regulation directly.

Legal & General have started life with a range of flexible
lifetime mortgage plans & high loan-to-value lump sum plans. These all come with the balance control measure
of the 10% optional partial repayment function. L&G have more new plans afoot such as buy-to-let and aggressive
growth targets over the forthcoming years. This all bodes well for an already expanding and innovative post
retirement lending market.

• Minimum Loan – £10,000
• Low Rate/Flexible Withdrawals
• Interest Rate – 5.07% MER*
• FREE Valuation Offer
• 10%pa Voluntary Repayments
• 2% Cashback Option
• Minimum drawdown – £2,000

*5.35% typical APR

• Minimum Loan £20,000
• For Higher or Maximum Loans
• Release from 30.5% at age 60
• Interest Rate – 6.12% MER*
• FREE Valuation Offer
• 10%pa Voluntary Repayments
• Cashback Option of 2%

*6.40% typical APR

• Minimum Loan – £200,000
• For Higher Net Worth Individuals
• Low Interest rate – 4.88% MER*
• 10%pa Voluntary Repayments
• Refund of Valuation
• 1% Cashback on Completion
• Inheritance Protection Feature

*5.15% typical APR

We are proud to partner with leading law firm Ashfords.

Their Equity Release Department specialises in advising clients on the legal implications of lifetime mortgages and reversion plans.

Ashfords has been inaugural members of the Equity Release Council and the business takes a prominent role in the Consumer Protection Working Group, the Adviser Board and the Long-term Care Working Group of the Equity Release Council.

Ashfords is one of the co-founders of the Equity Release Solicitors Alliance, an alliance of specialist equity release solicitors who adhere to a strict code of conduct, all of which means you can rest assured that you’re getting the best possible advice.

As our partner Ashford’s will be discounting their legal fees for Equity Release Supermarket customers until 31st May. Instead of the usual £495 they will charge £375+VAT (plus disbursements) for their services during this period.


Use our Equity Release Calculator to find out the maximum lump sum available. Use our comparison tables to find the lowest interest rates, best deals and various plans available. Visit our ‘Latest Offers’ page to see today’s special deals!

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There will be a fee for lifetime mortgage advice. This will depend on your circumstances, but we estimate it to be £995. These are lifetime mortgage plans. To understand their features and risks, ask for a personalised illustration.

 

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This post was written by Mark Gregory