Archive for April, 2009
Capital disregard increase praised by SHIP
Safe Homes Income Plan, the company dedicated entirely to the protection of equity release plan holders and promotion of safe home income and equity release plans, has praised the Government’s recent decision to increase the capital disregard level to £10,000, in line with many equity release drawdown minimums.
SHIP has been lobbying to raise the minimum levels to make sure equity release clients’ state benefits are safe; while the capital disregard sits at £6,000, any drawdown scheme set at a minimum of £10,000 jeopardises the legitimacy of the borrower’s benefit claims.
How Equity Release Schemes Can Improve Your Retirement
The right equity release scheme enables you to make the most of one of your biggest assets by allowing you to unlock a large amount of cash tied up in your home. With soaring living costs, people approaching retirement may be finding it increasingly difficult to enjoy life at a time when they should be most. Whether extra funds are needed for day to day living, or you need to raise a cash lump sum, an equity release scheme could be the right thing for you to consider.
Prudential announce that equity release could free £611 billion for pensioners
Prudential have released figures this week which show that UK pensioners have approximately £611 billion worth of equity in their homes.
In contrast to the recent decrease in property prices, the Prudential Equity Release Index shows that there is still an estimated £611 billion worth of equity which could be released with an equity release product.
SHIP & Eversheds to hold equity release debate
SHIP (Safe Home Income Plans) and Eversheds international law firm are holding a debate on the 28th April 2009 in central London to discuss the future of the equity release market.
Equity release could fill the void left in pensioners’ income since base rate cuts
According to SHIP (Safe Home Income Plans) the six base rate cuts in as many months have left a 25% deficit in pensioners’ incomes, and the answer for many pensioners could be to fill the void by using an equity release plan.
SHIP prepares equity release manifesto to lobby Government
Industry trade body SHIP (Safe Home Income Plans) plans to submit a manifesto this summer to the Government highlighting the importance of equity release as a solution to the ever increasing pensions gap.
Struggling retirees opt for equity release
Mail on-line have reported on a recent survey which said that one in ten customers who signed up to lifetime mortgages at the end of February was seeking short term cash to boost their retirement income.
Conventionally equity release is seen as a long term option with the money borrowed paid back from the estate when the borrower dies, however, more borrowers are looking to borrow over the shorter term.
Equity release up 11% at Just Retirement as retirees look to plug the pensions gap
Leading provider of financial products to the retirement market, Just Retirement, has announced an increase in equity release business of approximately 11% in the second half of 2008 compared with 2007.
The company, which is quoted on the London Stock Exchange, announced in its interim results statement that equity release advances during the last 6 months of 2008 totalled £81.8 million.
