Tag: Equity Release
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Royal London’s New Equity Release Options
Homeowners across the UK now have two new avenues to tap into the wealth tied up in their homes, thanks to the launch of Royal London Equity Release’s latest offerings. Royal London Equity Release, in collaboration with Responsible Lending, is introducing two new lifetime mortgage products: the Principal and Efficiency Plus plans. Both products come…
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New Lending Trend – Shift in Equity Release Mortgages
A significant change is emerging in the way lifetime mortgages operate. Traditionally, these mortgages have allowed borrowers to defer payments until death or entry into long-term care. However, the financial turbulence of late 2023, marked by soaring interest rates, has led lenders to rethink their strategies. In this article, we look into why equity release…
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Smart Spending for a Worry-Free Retirement – Enjoying Your Golden Years
Retirement should be a time of joy and freedom, but the question of how to smartly manage your pension and savings can cast a shadow over your golden years. Many work hard to build a sizeable pension, yet the puzzle of how best to spend it remains unsolved for some. Lovemoney published an easy-to-understand guide…
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Unlocking Your Home’s Wealth – Options Beyond Equity Release
Looking for financial flexibility during our golden years, many homeowners over 55 have turned to equity release as a go-to solution. It’s an appealing way to tap into the value of your home while you continue to live in it. However, it’s not the only path to unlocking your home’s wealth. The market is evolving,…
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Mortgage Strain Threatens UK Retirement Dreams
Over 20% of UK homeowners with mortgages are finding it increasingly difficult to save for their golden years. This startling statistic highlights a growing financial dilemma faced by millions, as soaring mortgage rates chip away at their ability to secure a comfortable retirement. A recent survey, involving 5,000 UK adults and commissioned by the Equity…
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Key Introduces Payment Term Lifetime Mortgage
Key Later Life Finance has unveiled a new financial product designed to offer older homeowners a more flexible and advantageous way to access the equity tied up in their homes. Dubbed the “payment term lifetime mortgage,” this innovative offering stands out by allowing for higher loan-to-value (LTV) ratios and providing enhanced flexibility compared to traditional…
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Unlocking Home Equity Is A Growing Trend Among the Middle Classes
Equity release is no longer seen as a last-ditch effort for cash-strapped homeowners but as a savvy financial strategy embraced by those with higher-value properties. According to the latest figures from Pure Retirement, a leading equity release provider, there’s been a notable increase in the number of homeowners opting for equity release, particularly among those…
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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…
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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…
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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…