Date Posted 07/05/2008 |
Equity release boost for sick |
Now some firms are offering larger loans to those in poor health, such as those with cancer, diabetes, heart disease and strokes. They may allow you to raise as much as 25% more cash from your home than a traditional scheme. Source: Daily Mail 7/05/2008
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Date Posted 16/02/2008 |
Bankruptcies at record high |
A record number of people in debt asked to be made bankrupt last year. A total of 53,114 individuals in England and Wales took the drastic step of going to court in a bid to sort out their finances. Source: Daily Express 16/02/2008
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Date Posted 15/02/2008 |
Millions struggle to make ends meet |
Almost every household in Britain is feeling the pinch as the cost of living continues to soar. Big rises in gas, electricity, food and petrol prices combined with a wrath of Government stealth taxes mean that already hard up families are now barely able to make ends meet. Source: Daily Express 15/02/2008
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Date Posted 29/10/06 |
Average House price inflation over last 10 years now 10.6% |
House prices across Britain have almost trebled since the property market recovery of the mid 1990's. Figures from Halifax showed that the average house price had risen 187% from £62,453 in the first quarter of 1996 to £179,425 in 2006 third quarter-an average increase of 10.6% a year. Source: Halifax figures quoted in Saturday Telegraph 28 th October 2006
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Date Posted 28/10/06 |
Soaring fuel bills "put elderly in peril" |
"Cold weather and high fuel bills could send death amongst the elderly soaring this winter charities said yesterday." Source: Saturday Telegraph 28 th October 2006 If you or your parents live in their own property, why put with this when equity release could help avoid it? - Keith Hargraves Principal The Equity Release Centre.
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Date Posted 02/10/06 |
Drawdown Lifetime mortgages now available to 55's |
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New Lifetime Mortgage provider Stonehaven, has become the first lender to offer a drawdown Lifetime mortgage roll up scheme to those aged 55+. They do require you to be able to borrow at least £20,000, which means that at 55, when they would lend a maximum of 15% of property value, your house would need to be worth at least £135,000. However, to allow for further funds being available in the future this would need to be higher. Previously all other drawdown schemes only started at 60. Similarly they are offering fixed rate schemes from 55+ where you can borrow up to the following higher Loan to Values:-
This beats the Hodge Equity Release product, described in our news release of 06/08/06. Although Stonehaven, unlike Hodge, are not yet SHIP approved, they do still offer a no-negative equity guarantee. This is a lifetime mortgage. To understand the features and risks ask for a personalised illustration. Source: Keith Hargraves Principal, based on Stonehaven product literature September 2006
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Date Posted 07/09/2006 |
Equity Release cheaper than Standard Mortgages |
“The equity release market has never been more competitive…”. “..One of the most unjustified criticisms levelled at the industry is that it is prohibitively expensive” “Just look at the evidence.If you review the products offered by the top 10 equity-release providers, the average interest rate on an annualised basis works out at 6.14% with the most competitive rate below 6%. In comparison, if you examine the standard variable rates on mortgages available from the top 10 mortgage lenders, as determined by the Council of Mortgage Lenders figures, their standard variable rates average out at 6.49%”. This is a lifetime mortgage. To understand the features and risks ask for a personalised illustration. Source : Jon King Chairman of SHIP quoted in MoneyMarketing 7 th September 2006 |
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Date posted 06/08/2006 |
Fixed Rates for 55-60 year olds. |
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Up until now the only Lifetime Mortgage deal for people aged 55-60 offered by Norwich Union had a variable but capped interest rate, where based on inflation the rate could vary and increase up to the cap (maximum) currently set at 9.93%. We are pleased to announce that we now have one Safe Home Income Plan (SHIP) approved lender willing to lend at a fixed rate for life, of currently just 6.21% ( which on a loan of £22,500 works out 6. 5% APR) on properties valued £150,000 or more. The maximum percentage of homes value they are willing to lend on is currently :-
This is a lifetime mortgage. To understand the features and risks ask for a personalised illustration. Source : Hodge Equity Release literature 12/07/2006. Norwich Union quoted in Moneyfacts August 2006 |
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"Equity release" includes home reversion plans and Lifetime mortgages. To understand the features and risks, ask for a personalised illustration.
