Tag: Lifetime Mortgage
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LiveMore Cuts Lifetime Mortgage Rates
LiveMore, a leading provider of later life lending, has announced a reduction in its mortgage rates. The company has trimmed rates across all its later life mortgage products, including retirement interest-only (RIO) mortgages, which have seen a reduction of 0.25%. This adjustment is poised to make a considerable difference for retirees looking to manage their…
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Unlocking Cash from Your Home? New Deals Aimed at Over-50s!
Equity release lenders are rolling out innovative mortgage options specifically designed for Generation X — those of us in our 50s and early 60s. But what does this mean for homeowners looking to unlock the value tied up in their bricks and mortar? Traditionally, if you took out a lifetime mortgage — a common way…
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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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More Personalised Lifetime Mortgage Rates Now Available
Legal & General Home Finance is changing its approach to liftetime mortgages, especially for those interested in the payment term lifetime mortgage (PTLM) product. This product, designed for homeowners looking to leverage the equity in their homes without the traditional barriers associated with age and borrowing limits, is now more accessible thanks to a nuanced…
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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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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…