Equity Release Report Blog

Nationwide joins the Equity Release Council

Nov 17, 2017

The Equity Release Council (The Council) has today confirmed that Nationwide has joined its membership after announcing its entrance into the lifetime mortgage market. By joining The Council, Nationwide indicates its support for the robust industry standards, rules and guidance that are the bedrock of the modern equity release market and underpin the provision of […]

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Equity Release Introducer Arrangement

Aug 7, 2017

Click here to download.

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Later life borrowing New mindsets: Old silos – The advice framework for older mortgage customers

Jun 28, 2017

Click here to download the CML research.

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Wealth accumulated via mortgage repayments reaches a record £62.7 billion in 2016 as UK faces a retirement income crisis

May 1, 2017

Equity Release Council launches white paper – Equity release rebooted: the future of housing equity as retirement income Wealth amassed by homeowners via mortgage capital repayments increased by 54% from £40.7 billion in 2005 to a record £62.7 billion in 2016 Total homeowner equity in England alone reaches an unprecedented £2.6 trillion, with £1.8 trillion […]

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With effect from Monday 3rd April 2017, Hodge Lifetime are changing the rates on their Indexed Lifetime mortgage plans

Apr 3, 2017

The interest rates on the Indexed Lifetime mortgage range will be adjusting in line with the CPI figures published in October 2016.  As of Monday 3rd April 2017, the rates will be as follows:   Any questions call Maxlyte Financial 020 7993 2882.

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With effect from 6pm on Thursday 30th March 2017, L&G Home Finance are making some changes across their product range.

Mar 30, 2017

The changes are as follows: Minimum age has been reduced to 55. All products are now flexible and have a draw down facility All products now have a minimum initial advance of £10,000 All offers are now valid for 50 calendar days (previously 35 days) Lifetime mortgages now available from age 55 From 6pm on Thursday 30 March L&G […]

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Retirement Advantage

Mar 29, 2017

Introducing our Lifestyle Options Our Lifestyle Options provide a tax-free lump sum. No payments are due and interest is added to the loan each month. Product Monthly interest rate (MER) Annual interest rate (AER) LTV @ age 60 LTV @ age 90 Lifestyle Gold 4.29% 4.38% 21% 35% Lifestyle Platinum 6.39% 6.58% 32% 46% If […]

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Equity Release Market Report Autumn 2016

Feb 20, 2017

Our Autumn 2016 Market Report arrives at a time when the state of play in the equity release sector goes beyond the record levels of lending witnessed so far this year to continuing signs of innovation and change. Download here

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Lending In Retirement Newsletter

Sep 4, 2016

AUG 16 Newsletter

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Early Repayment penalties and the plans that suit best

Jul 7, 2016

When a client leaves their home because they need to go into Long Term Care or they die, there is no Early repayment penalty. Recently clients needed funds to repay their interest-only mortgage. I researched the lowest rate available but there was a complicated calculation required to confirm the Early Repayment Charge. This involved the […]

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Estate Administration

May 8, 2016

Dealing with the death of a loved one can be a stressful and emotional experience. People need support at their time of need by accessing professional services that can reduce the burden on at this difficult time.One task that you may need to consider is administering the estate of the person who has passed away. This can […]

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No need for proof of earnings anymore

Apr 22, 2016

The Equity Release Council have helped the FCA see that as long as an interest-only mortgage can be converted into an equity release plan – there is no longer any need to has “proof of income”

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Legal & General Equity Release Rates

Jan 29, 2016

Legal & General are reducing the interest rates on their Flexible Plus Lifetime Mortgage product. FLEXIBLE PLUS PIPELINE CASES: Any applications Legal & General have not yet offered on will automatically be switched to these new lower rates.

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Equity Release Goes From Strength To Strength

Jan 26, 2016

It seems that as the equity release industry goes from strength to strength the negative comments just keep coming from some quarters. There is a very important reality to equity release and that it offers a lifeline to many people. It’s an essential product that will continue to become more popular because there is an increasing number of people who need to tap into their equity.

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Flooding and the Flood Plain Problem

Jan 8, 2016

With all the horrendous news about the recent flooding in the country, you should be concerned that if you want equity release at some time in the future, you may be in for a very unpleasant surprise.

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The average working life isn’t long enough to pay for a house!

Jan 3, 2016

Have we reached the point where the average working life isn’t long enough for us to buy a home? That’s the picture emerging from another week in which there was another raft of data about incomes, savings, mortgages – and house prices.

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The stigma attached to equity release

Jan 3, 2016

We are  are continually being reminded that some people feel uncomfortable because of the stigma attached to equity release. Now the equity release market is bursting with innovation and this keeps building confidence. Inflexible plans are being phased out which removes such issues as greatly reduced inheritances. Many equity release plans now have repayment schemes included to […]

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Beware So-Called Specialists with low fees!

Jan 3, 2016

There may be unscrupulous brokers who are advising people to take out the maximum that they can get out of the valuation of their properties. Their reasoning is that they will be getting “Today’s Rate” which could well increase in the future. This concerns me as it could turn out to be not such a straight-forward sensible option to take.

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UK adults in denial about retirement savings shortfall

Jan 3, 2016

Two-thirds are unaware, unwilling or unable to face financial facts. Pressure on savings up by 29% for men and 14% for women since 2009. Nearly one in ten believe they will have to sell their homes in retirement

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FEAR: Face Everything And Release… Equity!

Jan 3, 2016

The more people I speak to born between 1940 and 1948 who are not debt free reminded me to share an acronym for FEAR – Face Every thing And Release…….. Equity! The number of people entering retirement with a mortgage in tow has greatly increased recently for a number of reasons. Many of the baby […]

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Dealing with Bereavement

Jan 3, 2016

DEALING WITH BEREAVEMENT _ A ROAD WITHOUT A MAP A year or so ago, I lost a close family member. I was unacquainted with the formal aspects involved with what happens when someone dies. Why would I be? It’s an experience remote from everyday life, an almost taboo subject which isn’t often openly talked about. […]

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Short Leases in Central London – sorted!

Jan 3, 2016

If you live on one of the large estates – Howard de Walden, Grosvenor or Cadogan, you may be concerned about your short lease and what will happen if it runs out before you do!

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Family Feuds

Jan 3, 2016

Home equity release schemes, like pensions, can be complicated. The Financial Service Authority, Citizen’s Advice Bureau and Age Concern all recommend that you get independent legal and financial advice.

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Questions to Ask Yourself

Jan 3, 2016

Some questions that you need to satisfy your self you have answered to the best of your ability as there are alternatives to using Equity Release.

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Injecting an equity share when you downsize to release more cash in your life

Jan 3, 2016

You may wish to consider one possibility that is often overlooked as it hasn’t been widely publicised. How about getting an Equity Release provider to pay towards the purchase price of the property you want to move into? In so doing, you will tie up less of your own money to meet the agreed purchase price.

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Transitioning to Equity Release with interest-only payments

Jan 3, 2016

Because of an ageing population, many people are put off the idea of starting an equity release plan from age 55 onwards. One of the strongest arguments against considering equity release is that the interest rolls up and eats away at the capital. But now there is a sensible yet clever alternative.

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Life Planning and Equity Release

Jan 3, 2016

Let me be the first to explain how and why they fit together. Life planning is the art of uncovering what you really want to achieve in your lifetime. So if you are considering taking money from your house, you will consider the following points…. How much can you take out? Will this be sufficient? […]

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