Pension Loans

Tag: Equity Release

  • Pensioner Borrowing Drops as Economic Pressures Mount

    The latest data from UK Finance reveals a decline in the total value of new loans issued to older borrowers, totalling £4.3 billion in the first quarter of the year. This represents an 8.5% decrease from the same period last year. Specifically, the number of new loans given out fell to 28,840, marking an 11.7%…

  • Guide to Safer Equity Release – New Legal Framework Unveiled

    The Equity Release Council has launched a comprehensive legal guide, accompanied by a report on consumer vulnerabilities. These initiatives are designed to enhance the legal support provided to customers, particularly the elderly, who may face increased risks of vulnerability. The newly released “Vulnerability Vigilance” report highlights the most common vulnerabilities observed in equity release customers.…

  • Over 60% of Lifetime Mortgage Brokers Hike Fees Amid Financial Strain

    A revealing study of the financial pressures facing the mortgage industry has shown that the majority of lifetime mortgage brokers now charge over £1,000 for their services. This shift in fee structures reflects a significant adjustment to market conditions and regulatory requirements. Data sourced by Mortgage Solutions through a Freedom of Information request to the…

  • Major Mortgage Hike Hits Over-55s Hard

    Nearly half of the over-55 demographic in the UK who currently hold mortgages are preparing themselves for a significant hike in their monthly payments as their fixed-rate mortgage deals come to an end. According to recent research conducted by Key Later Life Finance, a leading equity release adviser, approximately 47% of these homeowners anticipate their…

  • Dreaming of a Comfortable Retirement, UK Homeowners Turn to Property Wealth

    A significant number of UK homeowners are turning to their property wealth as a financial safety net. Recent findings from the Equity Release Council indicate that more than three in five UK homeowners, representing a staggering 18.7 million individuals, are contemplating tapping into the equity of their homes to support their financial needs later in…

  • LiveMore Cuts Interest Rates for Later Life Lending

    LiveMore, a well-known later life lender, has announced a substantial reduction in rates across a variety of their mortgage products, including both traditional and equity release mortgages. These rate cuts, which go as deep as 0.58%, cover an array of products designed specifically for older customers, reflecting LiveMore’s ongoing commitment to supporting this demographic in…

  • Exploring Flexible Money Solutions – Are Drawdown Equity Release Plans Right for You?

    Recent data from the Equity Release Council (ERC) has shown a significant shift in homeowner preferences towards more flexible equity release products. Despite a decrease in the overall use of equity release, there’s a trend among new customers choosing drawdown lifetime mortgages over traditional options. These mortgages allow multiple withdrawals rather than a single lump…

  • New Lifetime Mortgage Option Expands Borrowing Limits

    UK-based Standard Life Home Finance has expanded its range of financial options for homeowners with the launch of its new Horizon 650 plan, part of its Horizon lifetime mortgage series. This new offering allows customers to unlock up to 52% loan-to-value (LTV) from their homes, which is the highest available in the current range. As…

  • Home Wealth – Over £622 Billion Available in Equity Release

    A recent report has highlighted a significant opportunity for homeowners over the age of 55 in the United Kingdom. They collectively have access to approximately £622 billion in housing equity that could be released to enhance their retirement lifestyles. This finding is based on the latest property value tracker from Canada Life, which has noted…

  • The Bank of Mum and Dad – Helping Your Kids onto the Property Ladder

    Many young adults find themselves struggling to make their first step onto the property ladder. With house prices and mortgage rates at an all-time high, it’s no wonder the “Bank of Mum and Dad” is increasingly becoming a crucial resource for aspiring homeowners. If you’re considering lending a financial hand to your children, understanding the…