June 2020

The Equity Release market has continued to give the over 55’s options

We have seen an increase in the number of equity release applicants looking to provide money to relatives as a result of the COVID 19 following its impact on family finances.

The majority of older homeowners decide to opt for equity release in order to meet their financial needs, with many borrowing to boost income or provide for things such as holidays, purchasing a holiday home, home improvement, clearing a mortgage or other debt or funding other purchases, like a new or vintage car for instance.

We also find equity release borrowers are frequently setting aside money from the release to help their children and grandchildren for things like, getting onto the property ladder, helping with funds for their business, paying for weddings or helping with university fees amongst many things.

I’m expecting enquiries to continue to grow/boom as moreover 55’s decide that they not only want to change their own lives but also help their family by unlocking money from their home using a Lifetime Mortgage.

Providing cash to their children to help fund business following the difficulties during the COVID19 period and also helping with deposits so their children can get onto the property ladder or even to be able to make that next property purchase, having a growing family requiring a larger property.

For more information about your equity release options, please contact Chris at Blue House Equity Release today

The Mortgage and Equity Release markets have been affected like most during these difficult times with COVID19 and there has been a reduction in applications.

However, there is still tremendous interest out there, with so many who have been waiting things out and finding that now is the time to take action and get things moving.

Now that Lockdown is being eased and with great caution, of course, the markets are starting to see life and interest is beginning to flourish, so now is the time for homeowners over 55 to change their lives by visiting equity release and the lifetime mortgage for the things they want, by unlocking money from their home.

Not everyone over 55 has woken up today thinking they must do equity release and thought about where to go to find out about a lifetime mortgage. As a potential solution to help or in some cases that they should take a look at the lifetime mortgage they did a number of years ago where interest rates were a lot higher than those today and where a rebroke could potentially save them money over their lifetime, therefore taking advantage of the lower interest rates of today.

A Lifetime Mortgage can help change lives, whether it’s a financial problem or an aspirational dream or both, It does not cost you to speak with me confidentially at Discover Equity Release to find out if an Independent, Whole of Market, Lifetime Mortgage will work for you.

For more information, contact Blue House Equity Release today