Equity release rates are lower than ever – is now the time to unlock the value in your home?

The average rate of a lifetime mortgage has reached a record low, whilst the number of available options is at an all-time high. The typical rate across lifetime mortgages has dropped below 4 per cent for the first time according to Moneyfacts, with the average rate now at 3.95 per cent – down from 4.49 … Read more

New unsecured loan could give retirees an alternative to equity release

Retired homeowners who need to borrow to pay off an outstanding mortgage can now apply for a new unsecured loan designed specifically for this purpose. Previously homeowners needing to borrow large sums after they retired would have had to rely on either equity release or a retirement interest-only mortgage. Both of these routes involve taking a … Read more

Equity release: What is equity release and how does it work?

Rising numbers of older homeowners are resorting to equity release to help out loved ones during the coronavirus crisis. Despite the lockdown, equity release providers have handed out loans worth millions of pounds. Recent figures show that the proportion of borrowers using the wealth in their home to help out relatives had risen 20 per cent, from … Read more

Baby boomers tap housing wealth to boost retirement incomes

Baby boomers are increasingly raiding the wealth tied up in their homes to supplement retirement incomes, research has revealed. Since 2015, homeowners have used property wealth to deliver £13billion in extra income via equity release, according to analysts at investment platform AJ Bell. Over the same period, since the start of pension freedoms, some £30billion … Read more