Low, Fixed Interest Rate Lifetime Mortgage
Releasing equity is a great way to supplement your income in retirement and right now you could benefit from a low, fixed interest rate lifetime mortgage courtesy of Aviva and Age Partnership.
SHIP Encouraged By Second Quarter Performance
Safe Home Income Plans (SHIP), the trade body for the equity release market, have released figures pertaining to the performance of the market in the second quarter of 2010.
Three Quarters Say Equity Release is Right For Them
The Age UK report, released last week has suggested that over three quarters of equity release customers felt the plan was right for their needs. Plus 97% of customers suggested they were satisfied with the plan they took out.
Age UK Report Delights SHIP
Following the release of a research paper by Age UK, looking into equity release, Safe Home Income Plans (SHIP) – the trade body for the equity release market – have responded in a positive manner to the findings.
Homeowners Battle Recession by Releasing Equity
As many as a third of equity release customers are releasing some of the value from their homes to pay off debts.
According to new research commissioned by Age UK and carried out by The University of Birmingham, more homeowners are turning to equity release as a means of easing the burden of debt.
Pensioner Couples Need £222 a Week
The average pensioner couple will require £222 a week, excluding rent, to be able to live to an acceptable standard. This is according to research carried out by the Joseph Rowntree Foundation (JRF) and, with the pension crisis at the forefront of people’s thinking, it might make an equity release scheme an option in the future.
The Budget and House Prices Affect Equity Release
During the month of June the equity release market was once again affected by house prices, both positive and slightly negative based on different sources, whilst the “Emergency” Budget, announced by the coalition Government, also impacted on the equity release market.
Nationwide Report House Price Increase
After the Land Registry reported that house prices had dropped marginally in June, the Nationwide have released their figures that suggests house prices crept up by 0.1%. Whilst the drop reported by the Land Registry was minimal many homeowners considering equity release will be encouraged with these findings from the Nationwide.
Less Than 50% of People Are Saving Enough for Retirement
According to a new survey by Scottish Widows, only 48% of people are saving enough for their retirement. With such a shortfall in pension savings, alternative sources of income like equity release schemes might be needed.
Slight House Price Fall Shouldn’t Deter Equity Release Customers
According to the Land Registry, house prices dropped by 0.2% in May when compared against April’s figures. However, this shouldn’t put off customers considering an equity release scheme because the average price of a house in England and Wales is still 8.2% higher than at the same time a year ago.
