Annual growth of equity release lending has reached a 15 year high as homeowners access wealth from their property.
First time buyers are less likely to be supported by the Bank of Mum and Dad as a third of parents are unable to financially support their children.
Amounts of equity released from homes reached £1.24 billion in the second half of 2016 a record level of wealth that continues to growth.
Data from the CML has revealed older borrowers have higher levels of equity to debt with repayment rather than interest only mortgages.
Equity Release may involve a Lifetime Mortgage or a Home Reversion Scheme. To understand the features and risks, please ask for a personalised illustration. Equity Release may affect your entitlement to means tested state benefits and will impact on the size of your estate. For Equity Release London City Mortgages charge a fixed fee upon completion of £695. For Mortgages a fixed fee is charged on application. Typically this is from £295 up to £495 for the services selected.
Equity Release - Equity Released from your home will be secured against it. Mortgages – Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it. Think carefully before securing other debts against your home. The information contained in this website is subject to the UK regulatory regime and is therefore intended for consumers based in the UK.
9th Floor, 30 Crown Place
London, EC2A 4EB
0800 955 0058
London City Mortgages Limited is a registered company in England & Wales under company number 09278987. London City Mortgages Limited is an Appointed Representative (FCA no. 655965) of Blackstone Moregate Limited (FCA no. 459051) which is authorised and regulated by the Financial Conduct Authority. LCM and LCM Equity Release are trading names of London City Mortgages Limited.