Please find below the Equity Release Council’s press release which came out on 24th September 2019. I have built up some very strong relationships due to the level of large cases that I am giving to several of the lenders. So, let me produce some quotes for your interested clients. The most popular KFI seems to be for either £325,000 …
Lifetime Mortgages Are Attracting Even More Attention As Equity Release Sales Continue To Soar!
The Equity Release Council has just released the latest equity release lending figures for the first quarter of 2019. The figures show: The release also includes member views from the recent member Census on the key drivers of market activity across different age groups. To view the full report, please click on the Equity Release Council logo immediately below.
The Need for Cash Flow Modelling Is Even More Relevant Now That Sales Are Really Shooting Up
Are you happy that your clients’ descendants will never complain that they discovered how equity release works? You need to seriously think about Cash Flow Modelling. I read an article confirming the Equity Release Market continues to expand in leaps and bounds. Between January and June this year, £1.71 billion of wealth was released, which confirms a 37% upward growth of …
Tiered Fee For Obtaining The Grant of Probate
In March this year, the government announced plans to introduce a tiered fee for obtaining the grant of probate upon death based on the value of the estate. The existing fee is either £155 (for applications by a professional body) or £215 (if applied for by an individual) regardless of the value of the deceased’s estate. Here’s how the proposed …
Later Life Borrowing New Mindsets: Old Silos – The Advice Framework For Older Mortgage Customers
The Council of Mortgage Lenders (CML) has produced a new report, aimed at giving advice to older people who look to borrow in later life. The passages below are the CML’s summary. To view the report, please click on the image, or read it on the CML website directly. Much has changed in the UK mortgage and equity release markets …
Wealth Accumulated Via Mortgage Repayments Reaches A Record £62.7 Billion In 2016 As UK Faces A Retirement Income Crisis
Wealth amassed by homeowners via mortgage capital repayments increased by 54% from £40.7 billion in 2005 to a record £62.7 billion in 2016. Wealth accumulated by UK homeowners through mortgage repayments has rocketed in the past decade to a record £62.7 billion in 2016 – paving the way for housing wealth to play a vital role in funding later life …
Equity Release – Dispelling The Myths
Peter Mazwell-Lyte MaxLyte Financial are continually being reminded that some people feel uncomfortable because of the stigma attached to equity release. Now the equity release market is bursting with innovation and this keeps building confidence. Inflexible plans are being phased out which removes such issues as greatly reduced inheritances. Many equity release plans now have repayment schemes included to regulate …
The Treasury Has Confirmed Spouses Will Be Able To Inherit ISAs Without Having To Sell and Reinvest Investments
H.M. Treasury Last week Chancellor George Osborne announced in his Autumn Statement it will be possible to pass on ISAs to surviving spouses when a saver dies. The changes came into effect immediately, but there was a concern that the rules had not been updated to allow investments held in the ISA to be transferred automatically – known as an in specie transfer …
Charges For Financial Planning?
What I am aiming to give as a unique service. In the days of commission, the rule was at least 3% probably much more and an ongoing trial fee. All that will be coming to an end in two years time. But other many financial advisers still charge a percentage around 3% for initial fees and then 0.5% ongoing. This means …
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