Thousands of homeowners chained to toxic equity release mortgages could finally be set free, saving each of them thousands of pounds.
Soaring numbers of older homeowners use the loans as a way to borrow money against the value of their properties.
In contrast to conventional mortgages, the debt and interest is not repaid until the owner dies or moves into a care home.
Hope: Age Partnership has pledged to look at all existing equity release loans to see whether borrowers can be switched to a better deal
But homeowners who took out an equity release loan two or more years ago are likely to be on a bloated, expensive deal, which is rapidly devouring the value of their home.
Hope at last for thousands tangled in unfair equity release trap
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Air Group launches fact-find and suitability report for advisers
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9
th April 2021 9:10 am
Good morning and welcome to your Morning Briefing for Friday, 9 April, 2021. To get this in your inbox every morning click here.
Testing employee relations at Novia
Relationships between employers and their staff are key to success in business. A good place to see what happens if they collapse is the Employment Tribunals decision list.
We spotted one recently where a former Novia employee has been ordered to pay £6,540 to cover legal costs incurred by the platform after an employment tribunal threw out claims of unfair dismissal.
Sarah Fisher, former implementation executive at Novia Financial, was criticised by an employment judge for failing to engage with the process. A further disability discrimination claim was also struck out.
more2life to co-host later life lending symposium with Key Partnerships and Air Group
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