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Good morning and welcome to your Morning Briefing for Wednesday 21 February 2024. To get this in your inbox every morning click here. Abrdn launches MPS Abrdn has launched a new model portfolio in response to client demand to provide a low-risk MPS alternative to cash products. The aim of the Abrdn Money Market MPS
The latest data on later life mortgage lending from UK Finance reveals there were 29,060 new loans advanced to older borrowers in Q4, down 37.1% year on year. The value of this lending was £4.1bn, which was down 42.4% compared with the same quarter a year previously. There were 6,710 new lifetime mortgages advanced
We explain how lifetime mortgages work, how much interest is charged, and what protections are available to homeowners.
Last year, 26,119 customers took out new equity release plans, with drawdown plans restored as the majority preference. Across 2023, there was total lending of £2.6bn, returning the market to the level of activity last seen between 2016 to 2017 (£2.1bn to £3.1bn). This is according to newly-published full year
Equity release, where people take cash from the value of their homes, has boomed in recent years. But what seems a simple financial product can turn families upside down when the loans are taken out in secret.