Category: Equity release
While more than £2.15bn of property wealth was released last year, as the market grew by 34%, advisers regularly recommend clients look to other ways of increasing retirement income.
Matthew Pheasey joins as director of intermediary distribution.
Customers can opt for a fixed or variable interest rate.
Typical referral customers released £100,600, up from £55,300 from customers going direct to advisers.
Marsden offers options for customers between 55 and 85, with prices starting from 2.39% for a 2-year discount, 2.59% for a 3-year discount and 2-year fixes from 2.89%.
The events will feature Jeremy Duncombe of Legal and General Mortgage Club, Liz Syms from Connect for Intermediaries and Key Retirement will give an equity release update.
A quarter (25%) used it to ‘top up’ their income and pay for everyday expenses, while one in seven (15%) used the money to pay off mortgages, loans and debts – up from 9% in 2015.
The society offers alternatives to equity release including a 5-year mortgage for an 89-year-old and a 16-year term for a 70-year-old.
With help of John Malone as an ambassador Age Partnership plans to grow its service and staff count significantly in the year ahead.
The group offers retirement income solutions, care, medically underwritten defined benefit de-risking and equity release markets with a market cap of £1.4bn and assets under management of £16bn.