Equity release buyers will benefit from more choice as Standard Life is to enter the market and increase competition.
UK savings reached £200bn during lockdown and overpayments could reduce interest costs and clear your mortgage years earlier.
Demand for coastal living has seen house prices in Britain’s seaside towns rise 10% over the year as homeowners change their lifestyle.
The competitive equity release market has seen over 100 products on the market as providers launch new features to attract customers.
The pandemic lockdown restricts the amount of equity released from properties in 2020 even though interest rates fall to record lows.
Pent-up demand for equity release and falling interest rates has seen a recovery in plans taken out after slowdown during the first lockdown.
Older homeowners are expecting an £18,000 shortfall for their retirement income with equity release offering untapped potential.
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.
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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.