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. 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 the [...]
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 [...]
More retired people are using their home as cash machines as interest rates continue to fall on equity release plans. Rates have tumbled from around 8% four years ago to a fixed rate of now below 3.50%. Money released through an equity release plan is tax-free and you can spend the money on whatever you like [...]
Congratulation to our equity release advisers John Cossons and Darren Amos whom both submitted entries to this years, Retirement Planner Awards. Their applications helped Equity Release Northampton to win the coveted award of “Best Equity Release Adviser of the Year” for 2019. These national awards are open to financial advice firms and wealth managers that offer [...]
As equity release rates continue to tumble. Recent figures from data analyst Moneyfacts, show that equity release rates are falling. For the first time in more than a decade, the average equity release rate has dropped to below 5%. Most lenders now charge an interest rate of 4.99% for releasing funds from your home. This is [...]
For many people entering retirement with a reduced income, budgeting to pay for existing mortgage and credit card debts can be hugely stressful. Often people will continue working longer than they planned or consider drastic and unnecessary changes to their lifestyle by selling up and moving to a cheaper property. Figures show that more retired homeowners [...]
It is a fact that most people’s financial wealth in the United Kingdom is tied up in their property. Many retired people in Northampton consider themselves “cash poor but property rich”. Equity release can be used in later life to supplement pension income or used to finance major items of expenditure. These can include- Home improvements [...]
“Congratulations” to Megan Leach our apprentice. Congratulations to Megan Leach, our Apprentice Equity Release and Protection Administrator for passing her exam. Megan successful completed, “Principles of Administration” (Exam 319) part of her NVQ Level 3 business administration qualification. Additionally, Megan is supported in her training with day release, provided by "Starting Off" at their Kettering Office. [...]
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 [...]
