Pension Loans

Category: Uncategorized

  • Pension Pinch – Retirees Return to Work Amid Cost of Living Crunch

    Many retirees are finding themselves back in the job market, a recent comprehensive study reveals. This phenomenon, brought to light in the fifth edition of the “New Choices, Big Decisions” report, underscores a growing trend among those who thought their working days were behind them. The research, a collaborative effort by The People’s Pension and…

  • Pension Tracing – Billions in Lost Pension Pots Await Claiming

    A staggering £20 billion in pension funds remain unclaimed, lying forgotten or lost in the maze of employment changes and residential moves. This astonishing figure has come to light amidst growing concerns over the ease with which individuals can lose track of their pension savings, especially following the introduction of auto-enrolment, which has significantly increased…

  • New Rules for Equity Release Mortgages – What They Mean for Over-55s

    In a significant shift aimed at providing more security and transparency for older homeowners, those over 55 looking to unlock cash tied up in their homes will now face a new requirement: to have a detailed chat about their daily finances before being approved for an equity release mortgage. This move, brought in by the…

  • New Pension Withdrawal Proposals for First-Time Buyers

    Proposals have been put forward urging the UK government to pioneer innovative solutions aimed at empowering first-time homebuyers. Among the suggestions are allowing the use of pension funds and introducing a student loan-style scheme for housing deposits. This initiative, spearheaded by Conservative MP Natalie Elphicke, seeks to rejuvenate the dream of homeownership for many, amidst…

  • Silver Separations – Over-50s Turn to Equity Release in Divorce Settlements

    According to a study by Legal & General Home Finance, a significant trend among divorcing couples over the age of 50 has come to light. It appears that a portion of these couples, approximately one in thirteen, are choosing to use equity release as a means to settle their financial matters during divorce proceedings. This…

  • The Higher Cost of Downsizing Outside London

    A report from Savills has shown that retirees living outside London could face higher costs and lower benefits if they choose to downsize their homes. This insight throws a spotlight on the widening economic divide between the capital and the rest of the UK, with significant implications for those planning their retirement. The London Advantage…

  • Can a Parent Remortgage to Help Their Child Buy a House?

    Many parents are pondering over ways to help their children step onto the property ladder. One such story features in the Daily Mail, where a father keen on making their daughter’s home-ownership dream a reality, asks for advice about remortgaging his house. A parent, owning a home valued at around £600,000 outright and with the…

  • Thinking of Moving a Pension? Why Checking Pension Fees Is Crucial Before You Transfer

    It’s not uncommon for individuals to amass a collection of pension pots throughout their careers. However, a significant oversight could be lurking for those considering consolidating or transferring their pensions: failing to scrutinise the fees involved. A recent study highlights a worrying trend where the majority of savers overlook the impact of fees when moving…

  • UK Homeowners Tap into Equity to Ease Debt Burden

    A staggering 72% of the equity released from homes in 2023 was allocated to paying off mortgages and other debts. This figure, reported by Key Later Life Finance, marks a significant increase from 67% in the previous year, highlighting a growing trend among homeowners to leverage their property’s value for financial relief. Debt Repayment Takes…

  • New Lifetime Mortgage Option Bridges the Gap for Pre-Retirees

    More2life has introduced the Flexi Payment Term lifetime mortgage (Flexi PTLTM). This innovative product is strategically designed to serve as a middle ground between traditional full interest-servicing mortgages and complete roll-up lifetime mortgages, aiming to provide a more tailored financial solution for homeowners. The Flexi PTLTM targets homeowners aged between 55 and 62, offering a…