Equity Release

Individuals on income-related benefits using an equity release scheme could benefit from recent legislative changes introduced by the government.This is according to director general of Safe Home Income Plans (SHIP) Andrea Rozario, who told the Financial Times that the changes will allow equity release plans to be taken out without ... read more

People's attitudes to their own properties have changed as a result of the recession - potentially leading to rising demand for equity release.A joint study from insurer Aviva and Dr Paul Keedwell, expert in environmental psychology at Cardiff University, suggested that 68 per cent see their homes as an "emotional ... read more

Posted by Joseph Clift Less than half of people aged between 35 and 64 have discussed what would happen to an elderly relative if they were to develop dementia, a pensions advisor has claimed. According to Equity Release Solicitors Alliance (ERSA), nearly 80 per cent of those quizzed said they ... read more

A series of new findings in an Association of British Insurers (ABI) poll provide positive signs for the equity release sector.The survey showed that many people are comfortable with the idea that value contained in their property can assist their finances.A majority (54 per cent) of those questioned over the ... read more

Elderly people who are comfortable in their current properties should consider taking out an equity release plan as an alternative to downsizing, a financial expert has said.Writing for Lovemoney.com, John Fitzsimons said that property is a "good long-term investment", particularly when it comes to providing a retirement income.Taking out an ... read more

Customers could be using income from equity release plans to meet their debts in increasing numbers, new data from lenders suggest.The Finance and Leasing Association (FLA) said that new credit card spending among members had dropped by eight per cent year-on-year during August 2009.Other unsecured credit spending had also fallen, ... read more

Elderly people can take advantage of the "significant equity" in their homes to meet their care home fees, it has been suggested. Analysis from the Daily Telegraph showed that equity release represented a good option despite the "recent falls in house prices". Families also stood to benefit if the property ... read more

Figures from the British Bankers' Association (BBA) indicated today (October 23rd) that people are trying to pay down their debts.According to the September 2009 data, overall consumer credit outstanding - including money owed on personal loans and credit cards - dropped by a total of £300 million.Repayments on credit card ... read more

Changes to equity release schemes could be on the agenda as the government works out how to resolve problems in funding care of the elderly.A report from the Cass Business School and the City of London Corporation said that the financial services sector could help ministers develop new strategies in ... read more

Customers are being misled by firms promising that they can wipe out their credit card debts by using legal loopholes.Research commissioned by the British Bankers' Association (BBA) and conducted by GfK NOP has revealed failures among some Claims Management Companies (CMCs).Many of these firms offer customers the chance to dispute ... read more