Category: Equity release
This marks the first time a dedicated criteria platform and a dedicated product sourcing platform have been integrated together in the later life lending space.
The research found that 33% of over 50s do not think they have enough money to provide a sufficient income in retirement, rising to 36% among women.
The change aims to help customers, and their beneficiaries, who are unable to sell properties due to the current government lockdown.
Tipton & Coseley Building Society has amended its later life lending criteria, applicable to retired customers who are applying for a later life mortgage product.…
Some £1.06bn of property wealth was accessed via equity release plans in the first quarter (Q1) of 2020.
The specialist lender has also lifted the restriction of accepting ‘like for like’ remortgages only.
Key’s Pensioner Property Equity Index found that the total property wealth owned by over-65s who have paid off their mortgages is valued at £1.133tr.
The five appointees join three existing directors who have been reappointed.
The suspension of fees will support nearly 400 current member firms, but will also apply to any new firms applying for full membership.
Research from ABAKA, in conjunction with Key, has explored how the over-65s can engage digitally with lifetime mortgage providers and advisers.