This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
20 Sep 2024
With UK inflation remaining at 2.2% which is slightly above the Bank of England’s 2% target, the decision was made on Thursday 19th September to keep the base rate at 5%.
27 Aug 2024
According to recent findings by LV= where 4,000 UK adults were surveyed, mortgage holders said that were likely to consider equity release to free up some money to take care of expenditures in later life.
6 Aug 2024
Did you know that removing clutter within your home can reduce stress, help you be more productive, and improve your mood and self-esteem? Check out our steps to get you started.
22 Jul 2024
The Equity Release Council has revealed that three in five UK homeowners are interested in releasing money from their property later in life.
2 Feb 2024
Are you looking to extend your property? There are many benefits to adding an extension to your existing home, here are a few.
12 Apr 2022
To help anyone who is interested in equity release, below we have answered three of the most commonly asked questions.
4 Apr 2022
To help anyone who is interested in equity release, below we have answered three of the most commonly asked questions.
31 Mar 2022
If you’re over 55 years of age and have considerable equity in your home, you may be wondering; ‘can I use equity release to buy a second home?’.
21 Mar 2022
You may have heard of the term ‘equity release’ and simply put, this is the process of releasing some of the money that is tied up in your home.
9 Mar 2022
Purchasing a property and then letting it out to tenants is a great way to earn additional income and the more properties you own, the more you can earn.
Generally referred to as ‘the base rate’, when it falls it is usually (but not always) an indication that lending rates generally will also fall.
If you can’t come to us we can quickly set up a video or phone appointment.
Lifetime mortgages are becoming more popular as a generation of people with all or most of their lifetime wealth tied up in their homes.
With most Equity Release mortgages it’s likely that the loan is increasing in size as interest on money you have borrowed on the mortgage accrues. However, this doesn’t mean that you can’t port your mortgage to another, perhaps smaller, property.
A Home Reversion Plan allows you to access all or part of the value of your property whilst, at the same time, retaining the right to remain in your property, rent free, for the remainder of your life.
Equity release is a way to release money by way of a loan secured on your home or through the sale of all or part of your home, subject to certain rights to remain in occupation.
In simple terms, Equity Release lending enables you to release and use some of the equity tied up in your home whilst still allowing you to remain living there during your lifetime.
The Equity Release Council is a not-for-profit organisation and is the recognised industry body for the equity release mortgage sector.
A lifetime mortgage is a loan made to older applicants which is secured on their home. You have the option not to repay it on a monthly basis but, instead, the interest can be rolled-up over the remainder of your life.
Equity release records broken as unprecedented Q4 activity sees 2017 lending reach £3.06bn with annual growth at a 15-year high.
We are delighted to be able to announce that Mortgage Required has joined the Equity Release Council.
Equity release is a way for pensioners to release money by way of a loan secured on your home or through the sale of all or part of your home.
23 Feb 2017
The Insurance giant Prudential recently carried out research which found that 25% of 2017s retirees will retire in debt. This is at its highest level for seven years.
9 Nov 2016
Equity release is a term given to the mechanism by which a homeowner can raise either a cash lump sum or a regular periodic income in return for either selling or mortgaging all or part of their home.
25 Feb 2016
There is only one subject for me to write about this week and that’s “Equity Release.” At Mortgage Required, we get all sorts of enquiries, but never before have we had so many enquires of this nature. It seems that so many retired people are “asset rich/ penny poor” and they are looking for a way to get their hands on some of their equity.
16 Nov 2015
The Building Society Association (BSA) announced that they are reviewing age limits on mortgages as more customers demand longer mortgage terms in order to keep monthly costs down. Older homebuyers may soon find it easier to get a mortgage as many lenders currently insist mortgages are repaid prior to the borower’s planned retirement dates.
17 Jul 2015
The Financial Conduct Authority (FCA) have strict rules about consolidating debts into client’s mortgages on the basis that if you default on your car loan, the finance company will come and reposes your car, but default on your mortgage and you may of course lose your home!
27 Nov 2014
I think anyone with an interest only mortgage without a repayment vehicle, will by now have a letter from their lender, warning them to make arrangements to repay their capital.
Nowadays, banks and building societies are reluctant to give mortgages to customers unless they pay capital as well as interest, but back in the day, interest only mortgages were as common as muck!
25 Oct 2013
Back in the day, “Shared Equity” was considered a little down market, perhaps where one might go as a step up from renting – a helping hand onto the housing ladder.
24 days ago
The most wonderful time of the year can easily turn into the most expensive time of the year. Watching the pennies doesn’t mean that the Christmas festivities have to stop, following a few budgeting tips can mean you still have a special Christmas and don’t go into the new year in debt.
28 days ago
December is usually a less desirable time to buy as many people don’t want to move over the holidays. However, prospective buyers do start to look at this time. Selling your home in winter may require a bit of extra attention to showcase your property at its best.
We look at why mortgage rates increased following the Bank of England's choice to reduce the bank rate, and should you fix now?
30 Oct 2024
On 30th October 2024 the Chancellor, Rachel Reeves delivered the Autumn budget which we had previously been warned would be “difficult”. Below we have summarised the main housing points.
23 Oct 2024
In an increasingly cashless society, money is an intangible concept for children to grasp. In the days of coins and notes, kids could see money as something physical you require to purchase goods and services.
In order to help teach your children about money, we have listed some tips below;
18 Oct 2024
The UK’s chancellor, Rachel Reeves will deliver the Labour government’s autumn budget at the end of the month, we take a look at what could be announced in relation to housing.
Recent research from Halifax has revealed the most sought-after locations for first time buyers in Britain.
The data which was taken from the Halifax House Price Index looked at areas outside of London where those looking to purchase their first property were buying. Despite high property prices and increased rates, these first time buyer hotspots have remained popular.
7 Oct 2024
Taking care of your mental health means looking after your emotional, psychological, and social wellbeing. There are several ways we can practice self-care that will help to improve our physical and mental health. This can help to reduce our risk of illness, manage stress, and boost our energy levels!