Category: Equity release
The average value of homes being used to secure lifetime mortgages is 19.4% higher than a year ago, at £487,0002 — which is nearly double the average UK house price of £256,4053.
Mortgage Introducer and MBE will deliver a programme that will provide insight into the latest topics affecting the mortgage, property finance and later life lending markets as well as the overall economic outlook.
Simply Later Life uses capabilities across Key Group and functionality of Air Group to deliver a services, sourcing and referrals proposition for its members.
ERA has also appointed Meagan Parker, from sister company Age Partnership, to the newly created role of customer experience manager.
Pure Retirement has launched an Insight blog, with the intention to help advisers best serve their customers.
Rising house prices enabled older homeowners to release more than £1bn in property wealth in the first three months of the year, according to data collected by Key.
Despite equity release being aimed solely at homeowners aged over 55, 67% of those surveyed admit they aren’t clear what it actually is.
Aviva has appointed Matt McGill as managing director of equity release.
The figures, based on the latest Halifax house price index, revealed that the total amount of housing equity available to homeowners aged over 55 now stands at an estimated £650.7bn.
Redemptions are likely to slow following the conclusion of the Stamp Duty Land Tax (SDLT) holiday, according to Claire Singleton, chief executive of Legal & General Home Finance.