How Can Equity Release Schemes Help London’s First Time Buyers?
May 19th, 2014
London’s housing sector is improving greatly. In the third quarter of 2013 a 25% increase was seen in housing growth. It was up a total of 42 per cent from the previous year. The last quarter showed even more of an upward trend in London and the UK. First time home buyers are not yet capable of buying a property without a mortgage. The average first time buyer had to spend 20% of their income on mortgage payments. It is an investment and the property market has supported purchases by these new owners. The downside is the down payment or deposit that’s required. This is where retirees, equity release, and tools such as equity release calculators come in handy. …read more
With London Property Values Soaring is Now the Best Time to Take Equity Release?
May 19th, 2014
A lot has happened in the last eight years. Housing prices declined rapidly, mortgage products left the market swiftly, and interest rates bottomed out. Now with two recessions behind the UK, housing is starting to come back. Unfortunately it is not an even process. Economic recovery occurs fastest where the money is, which translates into London seeing the best housing prices since the decline and the rest of the UK slowly following. For Londoners it means equity levels are up, which offers a higher equity potential to be withdrawn for all kinds of purposes. Equity release schemes include interest only, roll up, drawdown, and enhanced lifetime mortgages. With enhanced lifetime equity release the health and lifestyle questionnaire is a handy tool. …read more