Alternatives

If you are an equity-rich, cash-poor homeowner over the age of 55, an equity release scheme may be just the ticket.

However, there may also be other options available to you if you want a lump sum or are looking to supplement your income.

It makes sense to speak to an independent financial adviser to discuss your options.

Click here for more details on alternatives to equity release.

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Lenders have been ‘overzealous’ on lending into retirement – Kensington

Lenders have been ‘overzealous’ in restricting lending into retirement, Kensington Mortgages chief executive Keith Street has said.

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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.

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Pensioners own property worth well over £750bn

Retired homeowners have total property wealth owned outright of £756.36bn, according to new research from equity release adviser Key Retirement Solutions.

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Only 13% plan to downsize property

Just 3.25m homeowners aim to move to cheaper property when they stop work, freeing up £186bn to help fund retirement.

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Equity release market growing strongly

The amount of money lent to older homeowners in the equity release market grew by 11% in the third quarter of 2012.

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House prices down, mortgage approvals up

Average UK property prices fell by 0.7% in October, according to the latest Halifax House Price Index.

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Property prices drop 0.2% in October

UK house prices retreated at a 0.2% month-on-month pace during October and by another 0.4% versus the same month a year ago, according to the latest data out from Hometrack.

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Tougher rules on mortgage lending to be introduced in 2014

The Financial Services Authority (FSA) has confirmed that it will introduce rules designed to prevent irresponsible mortgage lending in its Mortgage Market Review.

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Case study – Home reversion plans

Patricia Davies, 77, had previously looked into home reversion plans but was unsure about taking one out.

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Case study – Lifetime mortgages

Patricia Russell, 77, and husband Cyril Russell, 84, are retired teachers.

Can I take out a mortgage past retirement age?

Q: I am 55 and want to remortgage on at least a 15-year mortgage term

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Equity release: buyer beware

Equity release may not be the right option for everyone, so consider carefully whether it is right for you.

Equity release alternatives

If you are looking to raise a lump sum or supplement your income, it could make sense to look at other assets or investments you might have as equity release alternatives.

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Equity release market grows 26% in H1

Equity released by homeowners rose by 26% to £641.8m in H1 2014 compared to the same period last year, analysis from provider Key Retirement Solutions has shown.

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