How could down-valuation affect my equity release? So, the lifetime mortgage lender doesn’t quite agree with the property valuation for your home. Don’t despair, all is definitely not lost, it’s not all doom and gloom just yet. What it does mean however is that you definitely need a really good equity release adviser on your [...]
Getting cold doesn’t give you a cold, carrots won’t make you see in the dark and saying ‘pineapple’ to someone doesn’t steal their sneeze (latter myth courtesy of my daughter). We’re surrounded by myths all the time, mostly entertaining but often quite confusing. And, despite the fact that things have changed a heck of a [...]
Cast your mind back for a moment. The Power of love is blasting from your radio, Madonna is getting into the groove, you’re experiencing that first sense of entertaining depression that can only be Eastenders, Live Aid love is taking the country by storm. Yes, it’s 1985 and the average UK home costs £35,436*. Now, [...]
Most of us are all too aware of just how difficult it is for youngsters to get their feet on the property ladder these days. And, unfortunately for our children and grandchildren, this doesn’t seem likely to change any time soon. Of course as parents and grandparents we all want to help our loved [...]
It wasn't long ago that equity release was a small, specialised area of the mortgage arena. To be honest, the equity release industry initially took a while to find its feet. It was some time before products were simple to understand, consumer-friendly, offered seriously attractive tax advantage and were – let's face it – trusted. [...]
Traditionally, when couples purchase a property, they do so as ‘Joint Tenants’. When taking out a mortgage, I’m sure that lenders have been happy with that type of arrangement as both clients are then financially liable to ensure the loan or mortgage is repaid. The alternative, ‘Tenants in Common’ has been used where people may [...]
We regularly hear and see comments about the role of the ‘Bank of Mum and Dad’. This comes as no surprise as many who already retired are now in a position to provide additional funds for their children. Many are happy to do so as they can see the benefits of the money and the [...]
So you have now decided that you want or need some capital and you feel that one option would be to release the money from your home via an Equity Release plan. You have considered the two main types of Equity Release, the Home Reversion and The Lifetime Mortgage and now you want to move [...]
I mentioned earlier that there are two main types of Equity Release plans, Home Reversions and Lifetime mortgage and today I’m going to deal with the specific options available with the Lifetime Mortgage. So how do we choose the best option? Perhaps for most people, the starting point would be around how much money would [...]
When asked initially what they’re looking for from their Equity Release plan, most people will tell us how much money they would like to release along with an indication of what they want the money for. However, for the majority of clients, their main concern is also about ‘getting the best deal’ But what exactly [...]
