Archive for May, 2009
Equity Release - unlocking money from your home
The right equity release mortgage can reward you with great financial perks in retirement. If you are 55+ and your home is worth £50,000 or more then you may be eligible for a lifetime mortgage, drawdown mortgage or home reversion plan.
SHIP announce 16% increase in average equity release sum
The average equity released by homeowners showed an annual increase of 16% from £41,718 to £48,287, as many looking to supplement lower savings incomes and tougher economic conditions, according to the latest figures from Safe Home Income Plans (SHIP).
Ship revealed the total value of equity release business in Q1 of 2009 was £245.01m, down from £245.8m in 2008. The actual number of loans was down by 14% year on year from 5,892 to 5,074.
