Equity release

If you are a cash-strapped homeowner over 55, an equity release scheme could be ideal for you.

Many older people have a lot of home equity – value tied up in their property – but would like more ready money. Using a lifetime mortgage or reversion scheme could give you a release of equity, as a lump sum or in regular payments, to supplement your income.

It is essential that you seek professional financial and legal advice before signing up for equity release, as it will impact on your estate.

To find out more, click here and an independent, fee-free mortgage adviser will contact you to discuss your needs.

 

Two pensioners

Average Brit retires on an income below the minimum wage

With an average pension income of just £8,774, new retirees can expect their income to drop by two thirds upon leaving the workplace, says LV=.

houseonmoney

New equity release lender to launch

A new equity release provider is set to enter the market in January 2014, with ambitious plans.

houseonmoney

Quarter of over-45s expect to use equity release

Just under a quarter of homeowners aged over 45 expect to use the equity in their property.

estate-agents-window

Retirees shun home ownership for rental market

Retired homeowners in the UK are stepping off the property ladder to join the quarter of retirees who already rent, according to research by Prudential.

thatched

The winners and losers of the retirement property downsizing race

The region you live in can dramatically impact how much equity you could release by downsizing your property.

elderly-holiday

Equity release market to top £1bn this year

Intermediaries have helped boost the equity release market by 29% over the past two years, figures from the Equity Release Council (ERC) have revealed.

nigel-waterstone

Household names expected to enter equity release market

A number of new lenders are expected to enter the equity release market this year according to a panel of equity release experts.

houseequity

Consumer misconceptions blight equity release

Advisers selling equity release products are still facing significant problems with client misconceptions over about the sector.

pensioners

Property most likely means of funding LTC - research

Property has overtaken the State, pensions and savings to become the most likely means of funding long-term care, according to research.

retired-couple

Property prices rice twice as fast as pensioner incomes

The value of UK property has increased at almost twice the pace of UK retirees’ incomes since 1997

elderly-couple2

Older interest-only borrowers facing wall

Thousands of interest-only borrowers over 60 could be forced to sell their homes in order to repay their capital debt.

rp-equityrelease

Govt urged to improve confidence in equity release

Government must work with financial services to ensure housing equity can be released "without excessive charges or risk" and improve consumer confidence, a House of Lords committee has urged.

Age UK teach older people computer skills

Equity release explained

Equity release is an important financial tool for older homeowners, and it's growing in popularity. Christina Hoghton reports

shopping-basket

54% shop around for equity release

More than half of those homeowners who signed up for an equity release scheme with specialist provider Partnership compared quotes from other providers beforehand.

stephen-lowe

Lenders must meet 'tsunami' of equity release demand - Lowe

More lenders need to launch into the equity release market for the industry to keep up with a “tsunami” of demand, an equity release specialist has argued.

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