Thursday 24 April 2014 | RSS Feed

Equity Release News

Key group strengthens its executive team

Key Group has appointed Will Hale as business development director.

Grandparents continue to bail out grandkids

More than one in three over-65s have paid off debts of more than £2,000 for children or teenage grandchildren, research from MetLife shows.

more 2 life unveils MMR broker support

Equity release lender more 2 life will be MMR compliant by April 7, more than two weeks ahead of the April 24 deadline, it was revealed.

Hodge Lifetime joins Academy

Hodge Lifetime has joined the Later Life Academy as its latest product adviser.

The Right Equity Release post 85pc sales increase

The Right Equity Release, the specialist club launched in 2010, has announced £1.33m in sales, delivering £187,000 net profit before tax.

Openwork links up with KRS

Openwork has chosen Key Retirement Solutions as its exclusive provider of equity release schemes.

40pc of lifetime mortgages used to clear existing loans

Clearing existing mortgages is the most common reason for applying for a lifetime mortgage, research from Stonehaven has found.

Hodge’ Retirement Mortgage available on Assureweb

Hodge Lifetime’s Retirement Mortgage will now be available on the Assureweb equity release sourcing system.

Bridgewater to give Masterclass presentations

Bridgewater Equity Release’s upcoming London Masterclass is set to focus on long-term care, MMR and creating opportunities.

Stonehaven links up with Later Life Academy

Stonehaven is the latest ambassador of the Later Life Academy, the recently launched commercial and training organisation for later life advisers.

Just Retirement reduce minimum fund size

Just Retirement has reduced its minimum fund size to £2,000 from £5,000 to enable a larger number of pension savers to gain access to its underwritten rates, potentially generating extra income over the course of retirement.

Equilaw join the Academy

Equity release legal specialists Equilaw are joining the Later Life Academy as a Product Ambassadors, where they will focus on the legal process of equity release conveyancing.

Lifetime mortgage perception improving

Some 77% of advisers believe that public perception of lifetime mortgages has improved significantly over the last five years, a new survey by Stonehaven has revealed.

Stonehaven cut rates

Lifetime mortgage specialist Stonehaven has cut the rates on its lifetime mortgage range.

Bridgewater to hold Masterclass sessions

Bridgewater Equity Release will hold “Advice Masterclass” sessions around the country in the first half of 2014.

Equity Release markets tops £1bn

The equity release market crossed the £1bn barrier in 2013 as the third year of growth in the market highlighted confidence in using property wealth as part of retirement planning, analysis from specialist adviser Key Retirement Solutions...

Chalk to stand for ERC standards board election

Simon Chalk, adviser and technical manager for equity release at Age Partnership has announced his intention of standing for election to the ‘Adviser Representative’ position on the Equity Release Council Standards Board with nominations...

FCA’s ER qualifications “too easy”

The Financial Conduct Authority’s equity release qualifications are “so easy you could train a bull terrier to pass them in three days” according to Equity Advice managing director Stuart Wilson, writes Ryan Bembridge.

A quarter of retirees still rent

One in every four (26%) retired households across England and Wales are currently renting their home, a new analysis of ONS census data by Prudential has revealed.

Equity release key to meeting care costs

Lord Lipsey has praised the ‘tremendous flexibility’ of equity release in providing extra income for over-55s and said it will play a major role in the ‘new world’ of care and retirement planning.

KRS appoints group marketing director

Key Retirement Solutions has appointed Tony Kane as its new group marketing director.

Consumers unaware of lifetime mortgage options

Eighty-five per cent of homeowners have little or no awareness that interest can be paid in part or in full for lifetime mortgages, according to a new survey from Stonehaven.

ABI reviews financial needs in retirement

For those of you with an interest in equity release and retirement products, the ABI has launched what it says is the first comprehensive review of the UK’s retirement needs and is asking for your views.

ERC meets with MPs over retirement apathy

The Equity Release Council will meet with MPs and peers today at the House of Commons to examine the current attitudes of older people towards saving for retirement.

Stonehaven MD spearheads new lifetime servicer

Onyx Servicing, a new lifetime mortgage outsourcing service aimed at banks, lenders and life insurers, has launched in response to the growing demand for equity release mortgages.

Couples’ pension plans leave partners at risk

Fewer than half of couples over the age of 40 have made arrangements to ensure that one partner will continue to receive a retirement income after the other dies, research from Prudential reveals.

Two thirds of parents paying kids’ housing costs

Property costs have proved to be one of the major drains on parents’ incomes, research from retirement specialists Responsible Equity Release revealed.

Keystone Buy to Let Mortgages joins Intrinsic panel

Keystone Buy to Let Mortgages is making its products available to the appointed representatives of the Intrinsic network.

Equity Release Council reinforces consumer protection

The Equity Release Council has introduced an extra set of safeguards to ensure consumers get the best possible advice and service.

Paradigm to hold equity release workshop

Paradigm Mortgage Services, the mortgage services proposition, has announced details of an exclusive equity release workshop being held in October for its members.

Property increasingly used to fund later life

People are now using their houses as part of a sophisticated approach to funding later life, according to research by The Saga Equity Release Advice Service.

Hodge launches interest only lifetime mortgage

Hodge Lifetime has launched a new interest only lifetime mortgage to fill the gap between a traditional residential mortgage and existing equity release lifetime mortgages.

SimplyBiz and Age Partnership in new tie-up

SimplyBiz has linked up with Age Partnership to provide third party compliance support for all aspects of the Age Partnership proposition.

Pensioners own property worth ?774.2bn

Retired homeowners have total property wealth owned outright of £774.22bn as the housing market continues to grow, research from Key Retirement Solutions shows.

Just Retirement mortgage sales soar

Equity release provider Just Retirement has reported that its annual lifetime mortgage sales have increased by 15% to £309.7m for the year ending 30 June.

ERC appoints Bathgate as ops director

The Equity Release Council has appointed Donna Bathgate, formerly head of marketing operations at the Chartered Insurance Institute, as chief operating officer.

KRS sells majority stake to Phoenix Equity

Key Retirement Solutions has sold a majority stake of the KRS Group of companies to Phoenix Equity Partners.

LV= cuts rates on Lifetime Mortgage

LV= has cut the rates on its Lifetime Mortgage lump sum product by 20 basis points

Just Retirement calls for Solvency II rethink

Just Retirement has backed Towers Watson’s calls for equity release to be a ‘permitted Asset class under Solvency II.

EPPARG pushes for EU equity release growth

The European Pensions and Property Asset Release Group is today leading a discussion in Brussels amongst key EU institutional stakeholders, industry representatives, academics and representatives of the charity sector on ways to explore...

Sales aid tackles divorce issue

With the UK averaging well over 100,000 divorces every year Bridgewater’s latest ‘Just a thought...’ sales aid tackles the issue of ‘Divorce Rescue’ and how equity release could play a part in keeping a family in a home.

Equity release rates could drop below 5pc

Equity release rates could plummet to sub 5% by the end of the year as the cost of funding continues to drive pricing down, writes Ryan Fowler.

Service a priority for annuity advisers

The quality of service provided is second only to rates in terms of what advisers look for when choosing an annuity provider, research from iPipeline and Canada Life has revealed.

more 2 life maintains pressure on rates

Equity release lender more 2 life is maintaining the pressure on rates with a further rate cut to 5.5% on its Protected Equity Plan enabling customers to safeguard part of their equity for inheritances.

Equity release misconceptions remain

Customers still have significant misconceptions about equity release, research from Bridgewater Equity Release has revealed.

Equity Release Council calls for awareness plan

Nigel Waterson today called for action to overcome the knowledge and policy vacuum which surrounds equity release in his speech at the Retirement Income Solutions Forum in London, writes Samantha Cordon.

Fears over LA advice on equity release

Nigel Waterson, chairman of the Equity Release Council, has raised concerns that local authorities will find themselves in the role of advisers when the proposals within the government’s care bill are put into practice, writes...

Confidence in equity release up 23pc

The number of UK adults who would consider equity release has risen by 23% over the past year, research from the Equity Release Solicitors Alliance has found.

Bridgewater to hold roundtable

Bridgewater Equity Release will be holding a roundtable workshop event next month designed to support specialist equity release advisers.

More 2 life cuts rates

more 2 life has reduced the rates on its enhanced equity release plan to 6.6% - the second cut in just over a month.

Pensioner equity release grows by 15pc

Pensioner households have seen investment and savings income slashed by a third since the onset of the financial crisis but more are taking advantage of equity release, research from Key Retirement Solutions has revealed.

Queen’s Speech confirms equity release benefits

The Equity Release Council has welcomed the government’s approach to the elderly and their homes in today’s Queen’s Speech, saying equity release could be the answer.