Types of Equity Release Plan

The Different Types of Equity Release Plan All equity release plans offer basically the same thing: a way of freeing up part of the value of your home to boost your retirement income. This might sound simple, but they take very different forms and whichever one you choose, it won’t be cheap. Although it may provide […]

Lifetime Mortgages Explained – Equity Release

A Lifetime Mortgage is a type of equity release plan which allows you to borrow against your home. Most providers will lend between a fifth and a half of its value. You will be charged interest on the debt the annual rate is likely to be a percentage point or so higher than for a similar ordinary […]

Home Reversion Schemes Explained

A home reversion scheme is a type of equity release plan which allows you to borrow against your home. The scheme provider takes ownership of a proportion of the value and gives you a lump sum or regular income in exchange. The Advantages You retain the right to live in it until you sell up or […]

Equity Release Plans Explained

As the name suggests, equity release plans allow you to boost your income by freeing up part of the value of your home. They are offered by a range of specialist providers and most are available only to homeowners aged 60 and above. Basically, the lender gives you a loan and in exchange charges interest […]

How Equity Release Works

Your chosen plan provider gives you a lump sum or the promise of funds up to a certain level, which you can draw on as needed. You can spend the cash on anything you want and don’t have to make any repayments until… When you die, or sell your home, the money youve borrowed plus […]

The Top Ten UK Mortgage Tips

Use these ten tips to guide you towards your best mortgage deal.   Don’t take the first mortgage you’re offered There are big differences in the deals you can get amounting to many thousands of pounds So make sure you’ve made comparisons with others.   Shop around There’s a lot of competition between the mortgage […]

How To Compare Good vs Bad Mortgage Lenders

The less scrupulous mortgage lenders are those who try to sucker you in with a very low interest rate but are using it to trick you into paying in other ways – for example for their higher insurance premiums. And they’ll trying to force you to stay with them by charging nasty penalties if you […]

Should I Go For a Fixed Rate Mortgage or a Discount Rate?

Mortgage lenders offer a whole raft of deals that are priced lower than their standard variable rate (SVR) of interest, and this can make choosing a loan seem very confusing. But, actually, most of the deals on offer are basically fixes or discounts, and deciding which you prefer is a major step towards selecting your […]

Flow chart: What kind of mortgage will suit you?

What is the Best Mortgage For Me – Wizard Do you need the security of knowing what your payments will be over a certain period of time? YES You need a fixed rate mortgage. With a fixed rate mortgage the mortgage lender fixes the interest rate owed on your loan for a set period of time, usually between one and five years. […]

How to Compare Mortgages

Shop Around There are hundreds of companies offering thousands of mortgages, which means there’s a lot of competition for your money – so you’re in a stronger position to shop around than you may think. The worse mistake you can make is to think “I’m not worthy” and grab the first mortgage that comes along. […]