Tag: Retirement Advantage Equity Release
Canada Life has rebranded Retirement Advantage’s Equity Release to Canada Life Home Finance.
The product has an interest rate of 5.29% and is available to over-60s on properties worth up to £6m, with a minimum loan amount of £250,000.
In the third quarter other equity release uses included buying a car (9%) and funding a new property (5%).
Borrowers can receive a lump sum of 3% of the value of their initial loan, an option designed to help in paying legal and adviser fees.
Pick joined from LV=, where he spent two years as business development manager.
The FCA introduced the idea last September in a bid to get more advisers qualified.
The Equity Release market could break the £2bn barrier for the first time in 2016 after achieving another strong quarter, Equity Release Council data shows.…
Lending reached £908m in H1 2016 after rising ty £198m from £710m in H1 2015.
Properties owned by over-55s in London lost value in the second quarter of 2016 for the first time in four years, Retirement Advantage’s Equity Release…
What’s required now is further proactivity on the part of regulators to create the necessary space for provider innovation and customer accessibility.