Pension Loans

Category: Uncategorized

  • Over Half of Brits Cash Out Pensions Entirely Amid Cost-of-Living Crisis

    More than half of individuals over 55 are withdrawing their entire pension funds. The latest figures from the Financial Conduct Authority (FCA) expose a concerning trend in pension management amidst the ongoing cost-of-living crisis. In the financial year 2022-23, approximately 740,000 pension funds were accessed, marking a 5% increase from the previous year. This rise…

  • Pure Retirement Boosts Loan Options for Homeowners

    Pure Retirement, a key player in the lifetime mortgage market, has announced significant enhancements to its Classic lifetime mortgage products. In a move aimed at increasing accessibility for homeowners seeking to leverage the equity in their homes, the company has raised the loan-to-value (LTV) ratios up to 48% on its standard range. This strategic adjustment…

  • Lost Pension Perplexity – How to Track Down Your Missing Money!

    When you’ve worked hard all your life, it’s distressing to discover that a pension pot you paid into has seemingly vanished. The Daily Mail told the story of one individual’s pursuit to trace their lost company pension and provided expert advice from Steve Webb on how you can do the same. Grab your detective hat…

  • Guard Your Golden Years – Key Tips for Pension Withdrawals This Spring

    Spring marks the arrival of peak pension withdrawal season, a crucial time for retirees, especially after enduring two years of escalating household costs. This period is particularly popular as it aligns with the new tax year, providing fresh allowances which many individuals aged 55 and older capitalise on to dip into their pensions for the…

  • Is Equity Release the Way to Pay Off a Mortgage?

    A growing number of older homeowners are finding themselves caught between the rock of mortgage repayments and the hard place of retirement savings. But is there a glimmer of hope on the horizon, in the form of equity release? Since 2021, the financial situation for those with tracker and variable mortgages has been growing increasingly…

  • Will Your Home Pay for Your Future Care Needs?

    While the cost of living only seems to go up, there’s also a new worry on the horizon for many: the potential need to sell their family home to cover care costs in later life. Recent research suggests that the typical £300k home could fund a care home stay for about seven years, but with…

  • Breaking Down Financial Barriers – New Guide to Demystify Later Life Lending

    In an effort to tackle the dense fog of financial jargon, the Equity Release Council (ERC) has joined forces with the ratings agency Fairer Finance to unveil a groundbreaking ‘jargon-free’ manual aimed at illuminating the often perplexing world of later life lending. The newly released guide aims to promote transparency and understanding of financial services,…

  • Which Country Offers the Best State Pension?

    When it comes to living comfortably in retirement, how does the UK measure up against the world? Many Brits might be eyeing their retirement with a mix of anticipation and anxiety, especially given the UK state pension’s reputation for being less than generous. The basic cost of living looms large over retirees, with the full…

  • Time to Rethink Lifetime Mortgages? A New Approach for Later Life Lending

    A recent discussion highlights a possible shift in how brokers could approach lifetime mortgages to ensure consumers are not only informed but protected. This fresh perspective calls for a deeper examination of customers’ financial situations, advocating for a practice that might seem obvious yet is often overlooked: considering income in lifetime mortgage recommendations. Edward Payne,…

  • Climbing the Property Ladder – The Growing Role of the Bank of Mum and Dad

    Getting a foot on the property ladder is becoming an increasingly complex challenge for many, with a significant number of first-time buyers turning to the Bank of Mum and Dad for that much-needed financial boost. This trend highlights a changing trend in the journey towards homeownership, with nearly half of all first-time purchasers now relying…