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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.

 

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.

scottish-house2

Downsizing driving home sales

Ageing prospective sellers say downsizing is their number one reason for moving home, according to Rightmove.

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20% use equity release to pay off mortgage

Over a fifth of retirees are taking out equity release loans to clear outstanding mortgages, according to research by Key Retirement Solutions.

simon-chalk

New equity release lender to launch in H2

Retirement advice firm Age Partnership is set to launch an equity release lending arm later this year.

Edinburgh skyline

Scotland sees 39% spike in equity release borrowing

Total equity release lending to Scottish homeowners rose by 39% in 2012 compared to the previous year, according to Key Retirement Solutions.

pensioners3

10,000+ released equity in 2012

More than 10,000 older homeowners freed up some of the cash tied up in their properties via equity release schemes last year.

retired-couple

Pensioners sitting in £753 bn worth of property

The UK’s retired homeowners’ total unmortgaged property wealth has fallen slightly to £752.72bn.

rp-equityrelease

Equity release up in 2012

More people released equity from their homes in 2012 than had been the case since 2008 and the average value of an equity release plan hit a 14-year high.

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