Category: Equity release
This tool will allow advisers to show a client an interactive representation of how much extra finance they could qualify for with an enhanced plan at different levels of enhancement.
The ‘Setting the Standard’ workshops, which are free of charge to attend, will be run nationwide in March and April, with over 150 advisers having already registered their interest in attending
The busy end to the year saw 12,891 new equity release plans agreed between October and December, contributing to an annual total of 46,397. Both these figures represent new highs and increases of 25% year-on-year.
The Finance & Leasing Association showed the value of new business in the second charge market grew to £99m in November 2018, up 21% year-on-year and bringing the total value of the second charge market to almost £1.1bn for the 12 months to November last year.
The mortgage pays out a regular monthly income, rather than a lump sum or drawdowns that a borrower can request.
The £3.6bn represented a 19% increase from last year, while the number of plans increased by 21% to over 47,000, data from Key shows.
Figures to be released later this month by the Equity Release Council are expected to show the market reaching the £4bn mark in 2018, up from £3.06bn in 2017, making it the fifth record-breaking year in a row.
After MPs soundly rejected Theresa May’s Brexit deal, in the biggest defeat for any government in the modern parliamentary era the industry airs its views.
Canada Life Home Finance has launched a range of workshops to help mortgage advisers take advantage of the equity release boom and become equity release-qualified in 2019.
Over a third (32%) of parents 55 and over said their children don’t know anything about their finances as they choose not to discuss financial matters with them.