Could you use your home as a cash machine?

More and more people over the age of fifty-five, are using their home as a cash machine as interest rates continue to fall on Equity Release plans. The rates have tumbled from around 8% four years ago, to fixed rates below 3% today. How can you turn your home into a cash machine? According to [...]

2019-08-28T09:14:48+01:00 September 9th, 2019|News|

Thinking about flying off to RIOs?

Could RIOs be a solution for borrowing into retirement? The number of mortgage companies offering “Retirement Interest Only mortgages” (RIOs) seems to be increasing month by month. Figures from the financial researchers “Moneyfacts” show that there were only five providers in July last year, but now we are up to thirty-eight. This trend is expected [...]

2019-02-27T12:22:40+00:00 March 18th, 2019|News|

Retirement Mortgages. They could be coming soon.

The Financial Conduct Authority (FCA) who regulates the mortgage market in the United Kingdom have launched proposals to create a market for interest-only mortgages for the retired. Also referred to retirement mortgages. They have approached the mortgage industry to look at solutions for interest-only mortgages that last until you die.   What are the FCA’s [...]

2019-11-07T16:13:08+00:00 September 12th, 2017|News|

Interest-only mortgages homeowners forced to sell.

Homeowners who have relied on interest-only mortgages are increasingly being forced to sell up before their repayment term is reached. The number of people having to sell their home and downsize is increasing. Estate agents are reporting that forty-three per cent of customers are forced to sell their home to pay off interest-only mortgages. Mortgage debt issues [...]

2019-05-17T12:05:34+01:00 July 17th, 2017|News|