Archive for the ‘Drawdown Lifetime Mortgages’ tag
Confidence in the Equity Release Market Grows
Figures released by Safe Homes Income Plans (SHIP) indicate that equity release schemes are growing in popularity as the market stabilises.
SHIP Announce Drawdown Lifetime Mortgages 14% Sales Increase
Equity release regulator Safe Home Income Plans (SHIP) has reported a 14% quarter on quarter increase in the sale of drawdown lifetime mortgage plans.
Drawdown lifetime mortgages have become increasingly popular since the drop in house prices, as instead of selling their house the over 60s are looking to release equity from their home and wait for market to turnaround and house prices to increase. This has led to drawdown lifetime mortgages now accounting for 51% of the market.
This method of equity release is structured to allow more regular withdrawals of equity; this has led to a drop in the sales value of products sold as borrowers can take a more staged approach to cashing in on the equity in the property – taking what they need, when they want.
Guide To Home Equity Release Plans
Home equity release could be the key to unlocking the money tied up in your home and could mean the difference between a carefree, enjoyable retirement and a constant struggle to pay the bills.
Home equity release plans allow you to boost your income substantially by freeing up all or part of the value of your home. There are three main categories of home equity release and within each of these there are many different plans. They are lifetime mortgages, drawdown lifetime mortgages and home reversion plans. Each type of home equity release plan is summarised below to give you an idea of what’s available. Talk to a home equity release specialist before deciding which plan to go for.
