A French twist on equity release arrives in the UK

More people in retirement are turning to their homes as a source of cash. This usually means using a specialist equity release provider – but could an arrangement popular in France provide an alternative solution? Welcome to the strange world of the ‘viager’. Going up: the cost of living, life expectancy and the state pension age. Going … Continue reading “A French twist on equity release arrives in the UK”

Over-55s borrowing £11m a day against their homes

Many older people turned to their properties as a source of cash last year, due to the rising costs associated with later life. In 2018 homeowners borrowed nearly £11 million a day against the value of their homes, via the process known as ‘equity release’. Borrowing via equity release is at an all-time high in … Continue reading “Over-55s borrowing £11m a day against their homes”

Do you have the mortgage of Damocles?

Some borrowers are living with a sword hanging over their heads: a mortgage they have little or no hope of repaying. One possible answer is the “lifetime mortgage” – but it’s hardly ideal. What is an interest-only mortgage?  It’s one where only the interest is paid off each month, so the full amount must be repaid … Continue reading “Do you have the mortgage of Damocles?”