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
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
Reasons Why Management of Your Interest Only Mortgage is More Essential Than Ever
March 25th, 2014
The current news of the world is sounding the death knell for the interest only mortgage. It is therefore more essential than ever before that should you still be holding an interest only mortgage you manage your risk accordingly.
In today’s world, saving up for your old age is the best way of rewarding yourself for the future. This is the reason why many people originally considered an interest only mortgage. They felt the investment vehicle selected, whether it was an ISA, low cost endowment or personal pension would create a fund surplus at the end of the term. This would have enabled them to not only repay their mortgage, but provide an additional cash sum for their pension provision. …read more