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March 2010

Equity release demand may grow as annual house price gains 'continue to accelerate'

29-03-2010 11:57 - Equity release demand may grow as annual house price gains 'continue to accelerate'Year-on-year growth in house prices is continuing to accelerate, according to the Royal Institution of Chartered Surveyors (Rics), in news that could provide a major boost to the equity release market.

Rics stated that the year-on-year increase now stands at seven per cent despite Land...

Home equity release schemes 'worthy of serious consideration'

26-03-2010 11:20 - Home equity release schemes 'worthy of serious consideration'Equity release plans could be a useful means of raising funds for many consumers.

That's according to Andrea Rozario, director general of Safe Home Equity Plans (SHIP), who has called on the government and industry to ensure that consumers have confidence when they opt for equity release...

Britons' 'increased savings' may create equity release opportunity

25-03-2010 11:05 - Britons' 'increased savings' may create equity release opportunityMany British people have been putting more money into savings over the past year, which could mean that they will be in a better position to take advantage of equity release schemes.

Thrifty Britons have saved £59.4 billion in the last 12 months, according to figures from...

'More financially open' younger generation may benefit from equity release

24-03-2010 10:47 - 'More financially open' younger generation may benefit from equity releaseThe younger generation are said to be more willing to talk openly about their financial planning, in news that could mean they will be better-prepared to take advantage of equity release schemes in future.

Jeremy Sutton, head of savings and investments at Tesco Bank, said: "Unlike...

Low mortgage rates could pave way for equity release schemes

23-03-2010 10:54 - Low mortgage rates could pave way for equity release schemesMany homeowners are currently taking advantage of historically low mortgage rates, which could be giving them the opportunity to store up extra equity in their homes.

Mortgage-holders are increasingly opting to remain on their lender's standard variable rate (SVR), according to new...

Long-term growth of house prices could boost equity release market

22-03-2010 10:28 - Long-term growth of house prices could boost equity release marketA range of properly considered measures could be put in place to deliver sustainable growth in the housing market, it is believed, which in turn could boost the equity release sector.

More research needs to be done to identify the particular causes of consumer detriment in the property...

Equity release 'plays a big part in pension plans'

19-03-2010 15:42 - Equity release 'plays a big part in pension plans'People considering home equity release schemes have been told that an estimated 1.3 million people plan to use their property to provide a retirement income, according to LV=.

The Liverpool-based friendly society's research indicates that while one-quarter of over-50s, or 2.3 million...

Equity release boost as mortgage arrears decrease

19-03-2010 11:09 - Equity release boost as mortgage arrears decreaseNew figures show that there has been a fall in the number of homeowners in arrears on their mortgage, which could mean that more people may be able to take advantage of equity release products in future.

In the final quarter of last year, there was a four per cent drop in the number of...

Lloyds mortgage overpayment extension could boost equity release sector

18-03-2010 11:07 - Lloyds mortgage overpayment extension could boost equity release sectorLloyds Banking Group is amending its rules to enable homeowners to increase their mortgage overpayments, in a move that could boost the equity release sector in the coming years.

The bank has launched its new scheme under which customers with variable rate mortgages can overpay by up to 20...

'Rosy future' for equity release amid projected house price rises

17-03-2010 10:34 - 'Rosy future' for equity release amid projected house price risesThe Building Societies Association (BSA) has said that house buyers expect property prices to grow, which could be good news for people aiming to secure funds through equity release plans.

On average, people expect house prices to rise by 2.2 per cent over the next 12 months, according to...

Equity release advice 'vital'

16-03-2010 10:42 - Equity release advice 'vital'Homeowners who are considering the benefits of mortgage release schemes have been told to obtain specialist equity release advice before making a final decision.

Specialist equity release advice is beneficial because there is such a variety of options and organisations offering mortgage...

Equity release enters mainstream political debate

15-03-2010 10:51 - Equity release enters mainstream political debateEquity release issues are moving to the forefront of political debate concerning the funding of retirement, it is believed.

Andrea Rozario, the director general of Safe Home Income Plans (SHIP), has welcomed recent discussions by the All Party Parliamentary Group focusing on insurance and...

House income plans 'may be more necessary for women than men in retirement'

12-03-2010 11:47 - House income plans 'may be more necessary for women than men in retirement'Fewer women than men are confident that their pension will give them financial security, according to new research.

This may see a gender bias with future equity release claims, as women seek to achieve the quality of retirement they believe they deserve in old age.

The research,...

Confidence in equity release 'must be improved'

10-03-2010 10:51 - Confidence in equity release 'must be improved'An All Parliamentary Group has outlined trust as one of the main challenges facing the equity release industry, which the MPs believe has the potential to be a key retirement funding source.

The group underlined the importance of maintaining high standards of equity release advice and...

Paying off mortgage 'leaves options for equity release'

09-03-2010 14:48 - Paying off mortgage 'leaves options for equity release'Paying off a mortgage before the age of 55 leaves plenty of capital available to take advantage of in retirement, it has been claimed.

It is important to pay off a mortgage before reaching retirement, according to head of consulting at Ducalian Timothy Lambert, when many people have other...

Equity release 'may be necessary' to supplement pension

08-03-2010 16:15 - Equity release 'may be necessary' to supplement pensionOne in three people are not confident their pension will give them enough money in retirement, research shows, which may see more consumers supplementing their income with equity release.

One in four pensioners still believe that a pension is the best way to save for retirement, according...

Aviva commits to focusing on equity release

05-03-2010 17:33 - Aviva commits to focusing on equity release The firm is set to change its approach to a whole range of retirement products, head of the insurer's UK life arm Toby Strauss told IFA Online.

He explained: "There will be greater focus on variable annuities, equity release and de-risking defined benefit...

Pensioner equity release assets 'top £700bn'

04-03-2010 17:12 - Pensioner equity release assets 'top £700bn'Pensioners interested in equity release have a total of £765.18 billion tied up in property collectively, new figures show.

Nearly a third of pensioner property wealth is concentrated in the south-east and London, according to Key Retirement Solutions.

Commenting on the...

Equity release schemes may benefit those affected by falling annuities

03-03-2010 18:23 - Equity release schemes may benefit those affected by falling annuitiesIndividuals not far from retirement may wish to consider equity release in the face of declining annuity rates.

According to annuity-rates.org, there was been a fall of 28 per cent in the last decade in spite of the recent improvements at the beginning of this year.

The website...

Could housing market issues impact equity release plans?

02-03-2010 17:21 - Could housing market issues impact equity release plans?Continuing credit restraints have left the housing market facing an uncertain future, it has been claimed, which could impact equity release plans.

The latest Royal Institution of Chartered Surveyors (Rics) European Housing Review indicates that the UK was one of the only five countries...

Flat owners' equity release plans 'benefit from biggest price increase'

01-03-2010 17:16 - Flat owners' equity release plans 'benefit from biggest price increase'Owners of flats and maisonettes are likely to have had the biggest boost to their equity release plans following the latest upturn in market prices, new data suggests.

The average price of flats and maisonettes increased by 8.5 per cent in the 12 months to January 2010, according to the...