Tag: Retirement Interest-Only
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Hanley Economic’s Retirement Mortgages Just Got Cheaper!
Good news for those of you nearing retirement or already enjoying your golden years! Hanley Economic Building Society has slashed interest rates on their Retirement Interest-Only (RIO) mortgages, making it easier to access your home’s equity. What are RIO Mortgages? RIO mortgages are specifically designed for people in or approaching retirement. They allow you to…
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Good News for Older Borrowers! Hodge Makes it Easier to Get a Mortgage
Getting a mortgage can be tricky, especially if you’re approaching retirement or have an income that’s not always the same every month. But good news for those over 50 and those planning for retirement! Hodge, a well-known mortgage lender, has just made it easier for people with complex income situations to get a mortgage. What’s…
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LiveMore Cuts Retirement Interest Only Mortgage Rates
It’s good news for pensioners and those approaching retirement – LiveMore has cut mortgage rates on some of their popular products! This means you could save money on your monthly mortgage payments, helping you stretch your retirement income further. What’s Changed? LiveMore has reduced rates on two key types of mortgages: How Much Have Rates…
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Perenna’s Retirement Interest Only Mortgages Just Got Cheaper
Perenna has reduced rates on some of its popular products. This could mean lower monthly repayments and more money in your pocket! Perenna, a specialist mortgage lender, has made cuts to its residential purchase and retirement interest-only (RIO) products. This means you could save money on a new mortgage or remortgage, whether you’re buying a…
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Livemore’s Mortgage Rates Dropped
If you’re over 50 and thinking about a mortgage, or need to remortgage, there’s some good news! LiveMore, a lender specialising in mortgages for older borrowers, has just slashed their rates, meaning you could save some serious money on your monthly payments. Lower Rates for Retirement Mortgages LiveMore has reduced rates on their retirement interest-only…
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OAPs Can Now Borrow Up to £1.25 Million!
Good news for anyone over 50 struggling with debt or wanting to free up some cash – LiveMore, the mortgage lender for the over-50s, has just boosted their maximum loan amount! You can now borrow up to £1.25 million, up from £1 million, on a range of their popular products, including their LiveMore 1, 2,…
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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%…
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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…
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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…
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Equity Release Trends and Future Potential
Despite a challenging economic climate, the potential for growth in the equity release sector remains strong, as highlighted by the industry’s key representative, the Equity Release Council. In recent years, particularly in 2022, the sector saw a record-breaking influx with £6.2 billion released. However, 2023 witnessed a significant drop in total lending to £2.61 billion,…