Recent figures from the Equity Release Council show that a total of £3.92 billion of housing equity was withdrawn by older homeowners in 2019.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 [...]
First of all, going through a divorce is never easy. However, taking sound independent financial advice early on can make a real difference. For example, a split where one party gets the home and the other get the cash and investments may seem fair at first. However, the fall out may be that one party is [...]
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 [...]
Some will have look at equity release in the early days when the industry was not strictly regulated and policed. They may have looked at it when interest rates were at a very high level. Some feel that equity release sometimes referred to as Lifetime Mortgages are inflexible, costly and takes advantage of people when they [...]
