What is the Difference between a Lifetime Mortgage Calculator & a Home Reversion Calculator?
November 20th, 2014
Attaining true figures for the type of equity release you wish to take out is wholly dependent on the tools you use for that calculation. A home reversion calculator is different from a lifetime mortgage calculator in the main factors used to determine the maximum amount of equity that can be released. …read more
Will the London Property Market be Hit by the Mortgage Market Review (MMR)?
May 19th, 2014
The Financial Conduct Authority (FCA) has now implemented the Mortgage Market Review (MMR). In fact, the Financial Services Authority began the process in 2009 after the subprime mortgage debacle. The idea of the review is to reform the mortgage market to ensure avoidance of a worldwide disaster like that of 2007. For many first time homebuyers it is making it more difficult for them to secure the down payment and get onto the property ladder whether it is in London or not. The good news is that many retirees, over 55s, are in London and they have significant equity in their homes. This equity can be released to help their children with the down payment they require. There are different equity releases such as interest only lifetime mortgages, impaired equity release schemes and drawdown lifetime mortgages. …read more