According to a report published by the Equity Release Council (ERC), the impact of COVID-19 has resulted in 67% of over 50s outlining that they intend to receive care at home in the future.
The report, entitled ‘Solving the social care funding crisis: perspectives on the contribution of property wealth’, was published with Pure Retirement and My Care Consultant, and noted that 63% of over 50s are now concerned that care is too expensive.
In addition, 64% believe there is a lack of pubic funds towards care and 57% outlined that it is not fit for purpose.
Three in five (60%) of over-50s said they are fearful of having to move into residential settings.
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For those aged 55 and over a lifetime mortgage can be a good way to release equity from their home without having to move house. Over the last few years there has been an increase in the number of lifetime mortgage plans entering the market, which has not only provided borrowers with more choice and flexibility, but during this time rates have also fallen. Those considering a lifetime mortgage should be aware that it could have a long-term impact on finances and, as such, they should consider speaking to an independent financial adviser to help them decide whether it is the best option for their individual circumstances. As well as this, for those who are planning to take out a lifetime mortgage plan speaking to an equity release broker could help them choose the best plan for their needs.
Just Group joins Brilliant Solutions lifetime mortgage panel
By Rebekah Commane 19
th January 2021 10:17 am
Just Group has joined the Brilliant Solutions lifetime mortgage panel, offering its full lifetime mortgage product range.
The Just For You lifetime mortgage range offers options to advisers including the ability to service clients interest on their loans so they can manage or reduce the overall cost of their borrowing.
Just Group director of retail business development Jacqueline Wilkins says: “Joining the Brilliant Solutions lifetime mortgage panel means we can offer financial advisers a wide and flexible range of tailored lifetime mortgage solutions.”
Brilliant Solutions managing director Matthew Arena says: “Alongside the great products available in its Just For You lifetime mortgage range, Just Group’s educational resources, designed specifically to help financial advisers manage complex issues such as customer vulnerability, w
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Pure Retirement joins Brilliant Solutions Mortgage Club
By Rebekah Commane 12
th January 2021 9:36 am
Brilliant Solutions Mortgage Club has added lifetime mortgage lender Pure Retirement to its equity release panel.
The partnership will allow members of the mortgage club and specialist distributor to have further support, expertise and resource on equity release and allow access to the specialist lender’s products including the Sovereign, Heritage and Heritage Freedom 40 ranges, all of which offer loans of £10,000 upwards.
Advisers will also have access to Pure Retirement’s Marketing Toolkit, allowing members to develop their marketing presence.
Pure Retirement chief executive Paul Carter says: “By joining forces with Brilliant Solutions brokers can utilise the mortgage club’s market knowledge to help guarantee the right lifetime mortgage solution is found for their clients. We look forward to joining Brilliant Solutions to co