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It has also increased LTVs by up to 1% for a number of its Capital Select products. LTVs now reach 46% at age 70 for its Capital Select Platinum Plus product. Across each updated product the LTV changes range from 0.5% to 1%. The Capital Select product range allows customers to borrow up to £1m against their property and make payments from £50 to a maximum of 10% of the initial loan amount each year without incurring an early repayment charge (ERC). Alice Watson, head of marketing, insurance at Canada Life, said: “We’re pleased to announce a series of changes to our Capital Select Options, one of our lifetime mortgage product ranges. ....
Equity release market breaks Q1 record £1.14bn accessed The total value of property wealth accessed has hit its highest level ever for a first quarter, figures from the Equity Release Council have revealed. The first quarter of 2021, which the UK spent largely in lockdown, saw £1.14bn accessed by 16,527 homeowners over the age of 55. This latest figure represents a 7% rise year-on-year from £1.06bn in Q1. Sign In To read this story please register PA is dedicated to championing professional advisers. It helps you build your business, service clients and generate sustainable income. PA offers: MULTI-ASSET: discover the latest trends in multi-asset ....
ERC: UK property wealth reaches a record £4.6trn mortgageintroducer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mortgageintroducer.com Daily Mail and Mail on Sunday newspapers.
The Morning Briefing: LV=’s ‘cavalier’ attitude; Tavistock’s takeover woes By Katey Pigden 8 th April 2021 9:05 am Good morning and welcome to your Morning Briefing for Thursday, 8 April, 2021. To get this in your inbox every morning click here. Cavalier attitude Mutual insurer LV= has been accused of showing a “cavalier attitude” by looking to sell itself to private equity investor Bain Capital for £530m. A group of cross-party MPs slammed LV= for disregarding the interests of its members. MP Gareth Thomas says: “It is perverse that at a time when mutuality is growing in other parts of the world that this course is being chosen by the UK’s second largest mutual insurer.” ....
Equity release market improves in H2 but still behind 2019 40,000 new plans bought Over the whole of 2020, 40,337 new equity release plans were purchased. Jon Yarker The UK’s equity release market recovered somewhat in the second half of 2020, but the number of new plans taken out still lags the previous two years. According to the Equity Release Council s Spring Market Update, there was a 19% increase in new plans taken out in the second half of 2020 (from 18,420 to 21,917). However, in total new plans still lagged the previous two years. Over the whole of 2020, 40,337 new equity release plans were purchased. Related articles In comparison, 44,870 and 46,397 new plans were bought in 2019 and 2018 respectively. In total, £3.89bn of property wealth was accessed in 2020, down from £4.2bn in 2019. ....