Category: Equity release
For the first time, half of customers (50%) used equity release to fund home improvements in the third quarter of this year, up from 45% in Q2, Canada Life has found.
When asked how many of their clients they considered to be vulnerable, over half (53%) said they deemed only 1-10% of their past clients as vulnerable and less than two out of 10 (17%) thought it is generally easy to spot a vulnerable client.
Marsden’s latest lending solution is available to applicants over the age of 55.
A ‘Lifetime Interest-Only’ mortgage could give consumers the benefit of a rollup lifetime mortgage but with an interest served portion on top to reach higher LTVs.
The total value of new property wealth released in the three months increased by 25% on the previous year to £933.9m and plan sales grew by 16% to 12,133.
Maximum LTVs was in the top five of almost every one of the eight different lending types that Knowledge Bank enables brokers to search on, its Criteria Activity Tracker for October has found.
Steve Cox has joined buy-to-let lender Fleet Mortgages as distribution director after leaving Hodge Lifetime where he was business development director and had worked there since April 2016.
To advise on RIO products brokers don’t require an equity release qualification, though some lenders do require the qualification.