If you own your own home you will be pleased to hear that you have never had it so good. It’s fine to say that you are wealthy on paper but how do you access this wealth if you want to build an extension or pay for a family holiday without selling up? So [...]
Releasing money from your home has become more popular with retired people wanting to live life to the full while they are still fit and well. New figures from the Equity Release Council show that over £11 million a day is being unlocked from peoples home. More than £1 billion has been lent in the [...]
By Darren Amos, Independent Financial Adviser. On the 9th of July (which just happened to be my birthday) I jumped on a train south to London. On arrival, I headed straight to the Houses of Parliament in Westminster to attend a committee meeting arranged by the Equity Release Council. The meeting took place in Portcullis [...]
If you are approaching retirement and are worried about how you will coupe to maintain your lifestyle then we may be able to help. It may be that you wish to make improvements to your home or wish to see more of the world now that you have more time in retirement. It might be [...]
Figures from the Equity Release Council show that homeowners took out £824 million of property wealth between July to September 2017. This is over a forty per cent increase from the same time last year. Equity release is also referred to as lifetime mortgages. There are now over 121-lifetime mortgages on the market offering more [...]
Figures from the Equity Release Council (ERC) show the total value of equity release lending continues to grow. From 2015 to 2016 there has been a 77% rise in the amount borrowed. The most recent figures show that the average amount borrowed has now increased to £70,000. Although equity release can be right for some, [...]
It is a fact that most of the personal financial wealth in the United Kingdom is tied up in their property. Many retired people are “cash poor but property rich”. Equity release can be used in later life to supplement pension income or used to finance major items of expenditure. Such as home improvements or [...]
The sum paid out by equity release plans topped £2 billion for the first time last year, the Equity Release Council said. Equity release allows you to release a tax-free lump sum from the equity locked in your home. You can do this without having to move. The £2.15 billion lent was a third higher than [...]
Average residential property has increased by 148% in value, compared to a 66% increase in pensioners’ incomes. House prices are now almost ten times the size of the average pensioner’s yearly income. Housing wealth also grows faster than other sources of pensioner income over a 20 year period House prices in England have grown [...]
