Page 28 - Equity Release News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Share Borrowers who took out an equity release plan several years ago could save themselves money by switching onto a new plan, as new research shows that equity release rates have fallen significantly in the last five years. Earlier this week, we reported that over the last five years the average rate on equity release plans has fallen by 2.08%, down from 6.15% in April 2016 to 4.07% on 26 April 2021. As well as this, during the same time period, the number of equity release plans has increased significantly, up from 66 to a record high of 510. Although the increase in choice and fall in...

But how will we spend that pent-up cash? Spending habits have changed a lot during the pandemic. More shoppers have moved online, restaurant fanatics are now cooking indoors, holidays and getaways are confined to the UK, and homeowners spending less time in the office are sprucing up their properties. So which lockdown trends are here to stay and which industries are set to win big? Lockdown luxuries With restaurants shut for much of the past year, consumers have been attempting fine dining at home — helping to drive a boom in premium food shopping. Consumers are also spending more in their...

Thousands of homeowners chained to toxic equity release mortgages could finally be set free, saving each of them thousands of pounds. Soaring numbers of older homeowners use the loans as a way to borrow money against the value of their properties. In contrast to conventional mortgages, the debt and interest is not repaid until the owner dies or moves into a care home. Hope: Age Partnership has pledged to look at all existing equity release loans to see whether borrowers can be switched to a better deal But homeowners who took out an equity release loan two or more years ago are likely to be o...

Experienced business advocate and former journalist Liz Barclay appointed to head up government office tackling late payments to businesses appointment...

Households repay record £17.6bn mortgage debt By Roger Baird 12 th March 2021 12:17 pm UK households repaid a record £17.6bn of mortgage debt, while one-in-six mortgage payers have been granted payment holidays by lenders, highlighting the polarisation between homeowners brought on the pandemic. Households paid back the record sum in the final three months of last year — equivalent to £192m a day – “as savings made under lockdown helped some existing borrowers to reduce their debt commitments”, according to trade body the Equity Release Council. However,...