Category: Equity release
The workshops, which are free of charge to attend, will run nationwide throughout May 2019. Each workshop includes three distance-learning modules and a day-long training course with Canada Life at one of six UK locations.
Interestingly the top searches within equity release have shifted in recent months from factors affecting the loan to considerations relating to the property itself.
The average gross annual income for retired households is £25,051 and their post-tax income is £17,593 amounting to an annual tax bill of £7,971 – the equivalent of 31% of gross income.
Over the course of 2018, homeowners over-55 years of age accessed 50p of housing wealth for every £1 of savings withdrawn through flexible pension payments, highlighting the increasing role of property wealth as a supplementary source of later life funds.
AIR Group is a collective of companies covering a range of retirement and later life services, all of which are now available to the networks’ later life advisers.
Some seven in 10 over-60s said they feel financially well prepared for retirement but many still lack confidence about the size of their pensions, meeting future care costs and ability to leave an inheritance.
It’s servicing element has been expanded, as it now has six partners who have their loans serviced by customer account servicing department.
The society’s 5-year discounted rate and 3-year fixed rate RIO mortgages are now being offered up to 55% LTV.
Around 30% of consumers miss out on cheaper mortgages that are just as suitable, costing them an estimated £550 a year.