Why Spending Habits Cause the Older Generation to Lean towards Equity Release
May 16th, 2014
A new report generated by the Personal Finance Research Centre and International Longevity Centre discusses living and food costs. The study resulted in six groups with specific patterns and expenditures that can be used to describe the over 50s. Some of these groups, generally in the Baby Boomer range, tend to have more expenditures than conservative consumers with a head of the household in the 80s or older. With this penchant for spending more at a younger age, even with a career that supported it well, equity release is becoming more of a way to protect retirement lifestyles. Explore equity release calculators to see if your Baby Boomer status could use a boost! …read more
Why Equity Release Schemes are becoming the Saviour for Londoners with Interest Only Mortgages
May 16th, 2014
On the cusp of retirement and yet your mortgage is not repaid in full? Numerous Londoners face this situation and with the Mortgage Market Review (MMR) restricting lenders it is becoming difficult to see what the future can provide in the way of comfort. For those who had an endowment on an interest only mortgage, most are finding it has fallen short to cover the entire amount owed. Others chose a different mortgage with no repayment vehicle. Trying to locate a solution for your retirement years is getting difficult for those over 60. Unless you consider the pros and cons of equity release, which is one solution to the problem of mortgages into retirement. …read more