Rising house prices have pushed the overall valuation of the UK housing stock to a record £7 trillion, according to the Equity Release Council. The later life lending body says the country’s stock of homes hit that level after annual house price gains hit 12.8% in May as “strong demand” continues to boost prices. It
Almost three-quarters of homeowners have no idea what the no negative equity guarantee in equity release loans means, according to Age Partnership. The equity release lender conducted a poll among 1,001 homeowners aged 55 and over, which asked the question: “In the context of equity release, are you aware what the no
Equity release sales practices risk consumers being sold products they later “regret and misunderstand,” says the Financial Services Consumer Panel.The 12-strong independent panel, which advises the Financial Conduct Authority, has asked the city watchdog to “support the development of holistic tools and guidance
The Equity Release Council has made penalty-free partial loan repayments a prerequisite for all equity release plans for new customers from today (28 March). The decision is expected to save equity release customers almost £100m in interest costs over the next 20 years. The move will help customers to mitigate the
Almost one in five, or 19%, of equity release advisers at Key Equity Release are now women, the lender has revealed this International Women’s Day. Since the pandemic began, the number of female advisers at the firm has increased by 8%, while more than half, or 53%, of adviser support roles are now filled by women. A