Category: Equity release
The Building Society is offering its RIO product to the whole of the intermediary market following a successful trial of an exclusive with Legal & General Mortgage Club.
Its panel includes six lenders offering a range of lending solutions.
The tailored plus plan is the lender’s new drawdown product and is an update of its tailored choice plan.
The events run from 10.00 to 15.00 and uniquely are not only open to the networks’ own members but to all advisers who have an interest in later life lending in all its forms.
Members of the Air Mortgage Club will now be able to access H&R for Intermediaries’ range of mortgage products for later life customers including its Retirement Interest Only (RIO) product.
Key’s H1 Equity Release Market Monitor showed older homeowners in the West Midlands made an average of £63,447 tax-free on their homes in H1.
Over a quarter (26%) of BoMaD lenders are not confident they have enough money to last retirement after helping their loved ones.
The exclusive national collaboration has been announced today.
Fifty-somethings are pessimistic about the housing market – 46% think that it will decline over the next 12 months, while 54% also expect the UK economy to be in a worse state in a year’s time.
Analysis of customer data suggested that 30% of people are using equity release to repay unsecured debt while 20% are using it to repay mortgages.