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Lenders have wildly different fees for paperwork with one firm charging £600 The charges are levied if a borrower wants to make a change to their plan Cost is compounded as the borrower must first talk to an independent adviser The country's largest lender Aviva has announced it is raising a string of fees But Aviva's equity release arm made £65.7m last year from fees and commission
The stamp duty holiday combined with many homeowners realising a need for more living space, has resulted in a booming housing market
UPDATE: Aviva reports good start to year as bumper return edges nearer | Financial News
The equity release market has undergone a revamp in recent years. The days of rigid plans and steep early repayment charges (ERCs) have gone and older homeowners are now being offered increased product choice and lower rates, all of which could boost your retirement savings. Here is how equity release has become more flexible and could boost your finances. Almost £4 billion was unlocked from UK homes last year, enabling people to renovate their houses, travel or even help younger members of their family get on the property ladder Unlock your home's potential Equity release lets homeowners ...
This is enabled through Iress’ The Exchange, and advisers will not have to re-key data. This new capability builds on the initial integration between Iress and more2life in July 2020 and has been developed using DPR’s Distribution Hub. Advisers will now be able to create a KFI on fastpath which has been prepopulated with the data entered on Iress as part of the initial search, saving time and providing a more streamlined user experience. Dave Miller, executive general manager of commercial at Iress, said: “With consumers increasingly investigating equity release as a way of boosting the...