Category: Equity release
So far this month, five out of nine lifetime mortgage lenders have cut or launched new rates, but since the start of June, 90 deals have been withdrawn.
more2life will compensate customers if it takes longer than 14 working days to issue a loan offer.
The volume of clients releasing equity for holidays only dipped by 0.8% over the last quarter.
The figure, based on the latest Halifax quarterly regional house price index, reveal that the total amount of housing equity available to homeowners aged over 55 now stands at an estimated £499bn.
Between Q1 2020 (11,495) and Q2 2020 (8,374), the market saw a 27% fall in the number of customers using equity release and a 45% fall in the amount of new equity released (£949m to £521m).
It follows the Chancellor’s announcement on Wednesday of the £2bn Green Homes Grant scheme.
The webinars were aimed at brokers who are already in or are considering entering the later life lending market.
In a SunLife poll of 3,000 people aged over 50, property was the number one desired purchase on their ‘bucket list’, followed by cars and boats.
Mortgage searches hit 1.2 million in June, compared to 683,078 in May.
The integration is part of an ongoing project that will help streamline the product application process.