60% of advisers would like more support with recording client communication and 55% could better understand the Mental Capacity Act.
A lifetime mortgage lender has identified a growing trend amongst wealthier homeowners for taking out the product to assist with their retirement planning.
Membership of the Equity Release Council has increased annually by 46% to more than 300 member firms. The Council has also seen a 38% increase in registered individuals over the same period, rising from 673 in December 2017 to now stand at over 900.
his week, Peter Sharkey looks at why thousands of people are using lifetime mortgages to buy a home in the sun.
Equity release adviser Key has revealed that retired homeowners are releasing an average £76,967 from their homes.
The Prudential Regulation Authority has announced that it will suspend the implementation of new rules governing solvency requirements for equity release lenders who offer no-negative equity guarantees (NNEGs) until the 31st of December 2019 - a year later than previously scheduled.
With figures for the second quarter confirming a 12% increase in equity release lending on the first three months of this year and a 39% rise on the same period for 2017 (according to the Equity Release Council)
How over-55s are cashing in £11million a day from their house value in ‘equity release’ to boost finances in later life
Homeowners aged 55 and over raised a record £1billion through equity release between July and September – £11million a day, figures show. The quarterly figure is up 24 per cent on a year ago. The money was ‘withdrawn’ from the value of homes to pay for items such as care, home improvements and helping children get on the property ladder.
Homeowners are unlocking a record £11m a day from their property and spending it on home improvements, lavish holidays and sometimes even passing it on to their loved ones, according to new figures from the Equity Release Council.
Home owners in the UK aged 55 and over are releasing the equivalent of £11 million every day from their homes, according to the latest quarterly lending figures from the Equity Release Council.