Page 31 - Equity Release News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The latest analysis from Moneyfacts has revealed that the equity release market has been buoyant at the start of 2021, as lenders have pushed the average rate of a lifetime mortgage to a new low of 3.95%. The volume of options available to consumers has reached a new high according to Moneyfacts data, with 488 options on the market. Key has suggested that wealth unlocked from the home to support family members is a driver in sales, and more homeowners aged 55 and over are worried about a retirement shortfall according to the Equity Release Council. Rachel Springall, finance expert at Moneyfac...

Older homeowners were more cautious about taking cash out from their properties in 2020, as drawdowns from lifetime mortgages dropped by more than a fifth. There were 21 per cent fewer borrowers who made drawdowns from existing equity release pots last year, deciding instead to leave the money in the hands of their lender, according to the Equity Release Council. The number of customers seeking further advances - additional borrowing on top of their existing lifetime mortgage – also dropped 11 per cent. Some over-55s use equity release mortgages to give them cash to enjoy their retirement E...

Advise Wise has launched a webinar series with the Equity Release Council. The initiative is open to all Advise Wise members, with the intention of providing them with a better understanding of the council’s recently launched ‘Advisers 24 points checklist’. In addition, the series offers the opportunity to ask questions directly to the council. The series consists of five weekly live sessions hosted from 4 February by Craig Faulkiner, head of distribution at Advise Wise. It will also feature the participation of Jane Hanlon, mortgage club manager at Advise Wise, Sue Read and Lorraine Co...

Final quarter push helps equity release numbers recover in 2020: ERC By Gary Adams 28 th January 2021 9:54 am There were 40,337 new equity release plans agreed in 2020 compared to 44,870 in 2019, the Equity Release Council has revealed. The ERC points to 11,566 new plans agreed in the final three months of 2020, some of which were decisions made earlier but put on hold as the Covid-19 crisis played out, as proof of sector resilience in a turbulent year. The final number of new and existing customers served across 2020 came to 72,988 while total lending to new and e...

George and Sue wanted to enjoy retirement with their grandchildren, but were worried how to do this with their existing mortgage and debts (stock photo) Dedicated health care workers George and Sue had always wanted to take early retirement but with their mortgage outstanding and debts yet to repay, the couple feared they would have to sell their house and downsize. ‘We have always wanted to bring our retirement age forward, especially now as we suffer from arthritis,’ explains George who lives in Lancashire. The couple work together in the recovery unit of their local hospital helping to...