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More than half - 57% - of homeowners have expressed an interest in releasing equity from their property in later life. Broken down by age, this statistic increases to 74% for homeowners aged 30 to 39 while 47% of homeowners in the 60 to 69 years old age bracket are interested in accessing money from the value of
Equity release is likely to see a surge in activity over H2 2021, according to Claire Singleton of Legal & General Home Finance.
Redemptions are likely to slow following the conclusion of the Stamp Duty Land Tax (SDLT) holiday, according to Claire Singleton, chief executive of Legal & General Home Finance.
Legal & General bring out RIO through mortgage club only By Gary Adams 19 th April 2021 12:06 pm Legal & General Home Finance has issued a new retirement interest-only product available exclusively through the Legal & General Mortgage Club. Available at up to 60% LTV, the rate is set at 3.39% and charges zero fee. Overpayments of up to 10% each year can be made. This compares to the lender’s current RIO product, with a rate of 3.55% and a £599 fee applicable. Legal & General Home Finance chief executive Claire Singleton says: “Property wealth is increasingly b...
Legal & General Home Finance has introduced a retirement interest-only (RIO) product, available exclusively through Legal & General Mortgage Club. Legal & General Home Finance’s current RIO option is available to the market at 3.55%, up to a maximum of 60% loan-to-value (LTV) and with a product fee of £599. However, Legal & General Mortgage Club members will now be able to access the exclusive RIO with a rate set at 3.39% and no product fee. Legal & General Home Finance’s product also comes with a range of other features, including the ability to make overpayments of up to 10% each year ...