Archive for the ‘equity release schemes’ tag
Debt Is a Growing Problem for Over-55s
According to Aviva’s fifth Real Retirement Report, 23% of over-55s don’t expect to be free of debt until they are about 75-years-old and 15% feel they won’t ever be able to pay back what they owe.
Pension Deficit Shows a £68 Billion Shortfall
Research suggests that the pension deficit today remains as high now as it was six years ago, despite an additional £50 billion investment by UK companies. This could encourage some homeowners to consider an equity release scheme.
Report Reveals 40% of Home Reversion Schemes Used to Repay Mortgage
This month, a study investigating why customers choose home reversion schemes and how they choose to use their extra cash, revealed more than 40 percent use it to repay an existing mortgage.
Pension Age Change Could Prompt Women to Turn to Equity Release
The proposed changes to the state pension age may mean a number of hard-hitting changes for many people, according to the warnings given by experts in recent media.
WRIC Launch Welcomed by Equity Release Trade Body
The WRIC (Workplace Retirement Income Commission), launched to investigate how and why the pensions system is no longer working for the general public, has been welcomed by SHIP, the body for equity release.
Why Will the Government Still Not Engage with Equity Release?
The relationship between equity release and funding retirement has once again been brought into the limelight by Jon King, Managing Director of More2Life. Speaking to Mortgage Strategy he questioned why the “government still [will] not engage with equity release and the solution it can provide.”
Eroding Pensions Makes Equity Release an Option
The 2.5% increase in VAT has already been credited with increasing the cost of living and now one retirement expert has also pointed out that rising inflation could also have a detrimental effect on retirees with fixed-rate annuities.
Could Equity Release Help with the VAT Rise?
Since 4 January 2011, VAT in the UK has increased from 17.5% to 20%. This could considerably increase the cost of living. As a result some homeowners might be wondering how they are going to afford it. An equity release is one option for homeowners approaching retirement or already retired.
House Prices Slightly Higher in 2010
Throughout 2010, UK house prices have fluctuated marginally, seeing some increases but also decreases. However, statistics from the Nationwide suggest that potential equity release customers should be encouraged as 2010 finished with the average price of a UK home marginally higher than at the start of the year.
A Busy Month for the Equity Release Market
The month started with the on-going struggle between equity release and state benefits, with Safe Home Income Plans (SHIP) once again calling for there to be a better understanding of the relationship between the two.
