Recent figures from the Equity Release Council show that a total of £3.92 billion of housing equity was withdrawn by older homeowners in 2019. What is the most popular plan? The most popular product amongst older homeowners continues to be a drawdown mortgage. 64% of new customers opted for a drawdown product against taking a lump [...]
By John Cossons, Equity Release Adviser I have recently completed an Equity Release re-mortgage for a client who took out a plan 12 years ago. This was at a time when Lifetime Mortgage interest rates were much higher. By re-mortgaging the outstanding balance, which included the initial loan, the rolled-up interest, along with the early repayment [...]
By John Cossons, Equity Release Adviser. This article is based on a recent equity release case that I completed. A 71-year-old client of mine had sold her property and was looking for a new house closer to her family. In an ideal world, she would have loved to buy a bungalow. However, she did not have [...]
