Category: Uncategorized
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Record Property Wealth for Over-55s
The value of homes in the UK has been on the rise, and that’s good news for homeowners, especially those approaching retirement. According to the Equity Release Council, the total value of property equity in the UK has hit a record high of £5.7 trillion. That’s more than the £5.6 trillion reached back in mid-2022,…
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Retirement dreams dashed? Pension pot needed for ‘basic’ life soars!
It’s a worrying time for many in retirement – the cost of living crisis has made it even harder to secure a comfortable life after work. The bad news? The amount of money you need in your pension pot to live a ‘basic’ life has jumped by 60% in just three years. A big gap…
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Retirement Shock – Half of Women Fear Running Out of Money
It’s a worrying time for many people heading towards retirement, but for women, the financial picture is particularly bleak. A new report has revealed that a shocking 52% of women don’t think they’ll have enough money to last them through their retirement years. This worrying trend is being fuelled by the cost of living crisis.…
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Retirement Loans Take a Dip – What Does It Mean for You?
New figures have been released that show a drop in the number of people taking out later life loans, which are designed to help us make the most of our homes in retirement. The data comes from UK Finance, which keeps track of how much money is being loaned out. They found that in the…
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Older Homeowners Hit by Falling Property Values
Are you planning on using your home to release some extra cash in retirement? You might be in for a shock. New figures reveal that older homeowners who are taking equity release from their properties are actually seeing their homes lose value. This could mean you get less money than you hoped for. Many people…
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Unlocking Your Home’s Value – How Equity Release Can Help You Go Green
Are you thinking about retirement and how you can make your home more energy-efficient? Well, you’re not alone! Many people are looking at ways to lower their energy bills and make their homes more comfortable. And now there’s a new way to do it, combining equity release with home improvements. Equity release is a popular…
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Good News for Older Borrowers – More Options for Second Charge Mortgages
It can be tough to get a mortgage when you’re older, but there’s some good news! Pepper Money, a lender that specialises in second charge mortgages, has made things a bit easier for folks who are retired or planning to work longer. What’s a Second Charge Mortgage? A second charge mortgage is like a loan…
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Working Longer – More Over-60s Becoming Self-Employed
You might be surprised to hear this, but there’s a growing trend of people over 60 choosing to work for themselves, even after they reach what used to be considered retirement age. According to new research from Rest Less, a community for people over 50, almost a million people over the age of 60 are…
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Bank of Mum and Dad Digs Deep to Help Kids Buy Homes
The cost-of-living crisis is hitting everyone hard, but it’s particularly tough for young people trying to buy their first home. And who are they turning to for help? Mum and Dad, of course! New figures show that parents are expected to hand over a staggering £30 billion to their children over the next three years…
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Aviva Sees a Big Drop in Equity Release Sales
Aviva, a major financial services group in the UK, has reported a 54% drop in equity release sales in the first half of 2024. This means they sold £114 million worth of equity release plans, compared to a much higher figure last year. They say this is due to “lower levels of market activity”. Why…