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Apr 24
Stonehaven, one the leading Equity Release providers, have announced that their Interest Only Lifetime Mortgage Plans are now available to homeowners in Scotland. The Plans have become very popular in England and Wales since their introduction into the equity release market last year. (more…)
Apr 17
Bower Retirement Services, the specialist adviser on equity release schemes, has warned that falling rates for annuities is increasing the financial cost to thousands of pensioners. Rates have plummeted so far that pensioners are even choosing to opt out of an annuity and are considering alternative options, such as an unsecured pension and income drawdown. (more…)
Jan 12
The Office of National Statistics has begun to monitor happiness with an index. Its initial findings reveal that life satisfaction is high for the older age groups, although after state pension age, unsurprisingly people apparently tend to lose some purpose in their lives when they are living more at home.
With much lower projected incomes for retired homeowners and the widely publicised likelihood of a pension crisis imminent, it will be surprising if the index remains at such a high level for long unless additional financial support for pensioners can be found.
Many people in retirement will already be maintaining their lifestyles through depleting their savings. Without a savings cushion, it is already becoming a struggle for them to manage on their incomes. Indeed, AVIVA, one of the many equity release providers, has recently predicted that the over 55s are significantly poorer than they were a year ago.
Liverpool Victoria (LV=), a leading equity release provider, has reported that over 6 million people in their 50s will work beyond state pension age because they no longer expect to be able to live on their pension incomes. Many are already discovering that the amount they can draw from their Personal Pension Plans is much less following recent changes to the pension rules and ever decreasing annuity rates.
Fortunately there is an alternative solution available. Equity release plans can now be structured in a manner which enables retired homeowners to supplement their incomes to meet routine monthly expenditures and to pay for the one off items.
With a cost which is fixed for life, a modern lifetime mortgage and home reversion plan offers both certainty and security for those at or in retirement.
In order to learn more about the equity release schemes available for releasing cash from their homes and to provide an equity release comparison,, the equity release calculator from Bower Retirement Services enables retired homeowners to find out whether a lifetime mortgage or home reversion plan might be appropriate for them.
In this way, equity release plans can maintain life satisfaction for the elderly at a high level… and boost Happiness & Well-being!
Dec 19
Equity release products are at last widely acknowledged as being complementary rather than as risky distractions to the role which annuities traditionally play in the retirement market. (more…)
Oct 18
Downsizing is the preferred method of releasing equity for elderly homeowners at or in retirement. Moving into a smaller and cheaper property is usually more economic for those struggling to live on a pension income and often enables them to relocate to somewhere more suitable for fulfilling their retirement dreams. (more…)
Oct 03
An equity release plan normally takes between 6-8 weeks to process from application date. If you are over 55 and a homeowner wanting to bolster your finances in time for Christmas, book your initial free equity release consultation now to avoid disappointment. (more…)