By John Cossons, Equity Release Adviser with Equity Release Northampton Home care can look an attractive alternative to residential care and is often preferred by those who have a lower level of care needs. As you get older remaining in your own home becomes more important. Home care is available at varying levels to accommodate the [...]
A“Sandwich Generation,” who are they? "Sandwich Generation" is a term used for the group of people who are feeling the financial strain of supporting their children, grandchildren and ageing parents. With young adults struggling to achieve financial independence and a population that is living longer the burdens and responsibilities of the over 55s are increasing. Recent [...]
More and more retired people are using their home as cash machines as interest rate continue to fall in the equity release market. Rates have tumbled from around 8% a few years ago to an average of 5.2% with some deals as low as 3.6%. Remember that this is a fixed rate for life. Additionally, people [...]
You may have looked at equity release in the early days when the industry was not as strictly regulated and policed as it is today. it might have been when interest rates were high. You might have felt that equity release was inflexible, costly and takes advantage of people when they are old and vulnerable. The [...]
By John Cossons, an Equity Release adviser. Below is a true recent retirement case study that I would like to share with you. The background A single retired 71-year-old client of mine had sold her property and was currently living with a friend. She was looking for a new house closer to her family. In an [...]
More and more retired people are using their home as cash machines as interest rates continue to fall on equity release loans. Rates have tumbled from around 8% four years ago to a fixed rate of below 3.50%. Money released through equity release is tax-free and you are able to spend the money on whatever you [...]
Many people ask, what is the difference between a Retirement Interest Only Mortgage and a Lifetime Mortgages. At a quick first look, they both appear very similar, however, there are some very important differences. With both products, the loan is repaid when you pass away or go into long-term care. Also, they can be used to [...]
By John Cossons, Equity Release Adviser. First of all, we are often asked what are the benefits of Equity Release and Lifetime Mortgages? Here are what some of our clients do with the tax-free money they release from their homes. Repay outstanding mortgage One of the more common reasons that clients take a lifetime mortgage is [...]
For homeowners with an interest-only mortgage, these can be worrying times. Many will not have a repayment plan and could be looking at an uncertain financial future. So, the worst affected are people coming up to retirement. They are likely to have taken out an endowment plan which was designed to repay the capital amount of [...]
Putting a retirement plan in place. If you’re in your late fifties/early sixties and starting to think about retirement, there’s certainly a lot to think about! Putting a"Retirement Plan" down in writing may be the best way to focus your thoughts. The important thing is to first get an idea of what level of income you’ll [...]
