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May 2010

New equity release development manager for LV=

28-05-2010 11:06 - New equity release development manager for LV=Fresh equity release schemes can be expected at LV= after it appointed a new development manager.

The announcement holds the potential of further products being introduced in the market as equity values in homes continue to fluctuate.

LV= has revealed that Clare Lucas, whose last...

Equity release 'seriously' affected by housing devaluation

27-05-2010 11:34 - Equity release 'seriously' affected by housing devaluation Equity release has undergone a significant change owing to the highs and lows in the property market, according to new findings.

After the advent of the global economic downturn, equity values of properties have been damaged due to the fall in house prices, claims HSBC.

However,...

Equity release part of a range of options for retirement plans

26-05-2010 11:21 - Equity release part of a range of options for retirement plansPotential retirees should plan ahead for their retirement and be knowledgeable of supplementary means of income - such as equity release schemes and other solutions - claims one expert.

David Cooper, marketing and distribution director of Just Retirement, pointed out that people could...

Rising living costs raise prospect of equity home loans

25-05-2010 10:52 - Rising living costs raise prospect of equity home loansMore and more people may have to turn towards home equity loans as a rising inflation rate is expected to drive up costs.

Retirees need to seek out an extra £800 to maintain their standard of living and cover day-to-day costs, according to estimates drawn up by the retirement income...

Home equity release schemes 'can add to retirement earnings'

24-05-2010 11:14 - Home equity release schemes 'can add to retirement earnings'Home equity release schemes could provide a reliable supplementary source of income when planning out retirement earnings, advises an expert.

Writing for This Is Money, Danny Cox, head of financial planning strategy at Hargreaves Lansdown, advised "selling, downsizing or using equity...

Equity release 'should be made clearer '

21-05-2010 11:01 - Equity release 'should be made clearer 'Equity release could become easier for people considering the option as calls for greater clarity and transparency surrounding the procedure grow stronger.

In a move that will affect the whole retirement income industry, the Personal Finance Society, the Association of Independent...

Will equity release be more attractive as job confidence wanes?

20-05-2010 11:13 - Will equity release be more attractive as job confidence wanes?Brits' confidence in their finances and job security is waning, according to an industry expert, which may see more homeowners considering equity release to supplement their income.

Mike Fosberry, president of the Personal Finance Society, said that people were nervous about job security...

Will over 55s be forced into home income plans?

19-05-2010 11:08 - Will over 55s be forced into home income plans?Two-thirds of Brits (64 per cent) are worried about tax increases over the next five years, compared to only 18 per cent that are concerned about the rising cost of living, according to an Aviva Retirement poll.

Those who expect to earn under £750 per month are most concerned about...

Are advisers seeing increase in demand for equity release advice?

18-05-2010 10:53 - Are advisers seeing increase in demand for equity release advice?Six in ten advisers are now helping their clients with equity release selection and other financial planning decisions rather than offering investment guidance, research shows.

Nearly a third of advisers (30 per cent) have concentrated almost exclusively on financial planning, according to...

Shrinking equity release market 'has not curbed demand'

17-05-2010 11:24 - Shrinking equity release market 'has not curbed demand'The shrinking equity release market has not "stemmed interest" among customers, according to a leading industry expert.

Brits approaching retirement still recognise the need for equity release products, claims chairman of the Equity Release Solicitors Alliance Claire Barker, in...

Carers 'could turn to equity release'

14-05-2010 09:14 - Carers 'could turn to equity release'An increasing number of people could opt for equity release plans in future in order to raise much-needed funds, it is believed.

Equity release could be one of the options on the table for ill or elderly people and their carers, after Emily Holzhausen, director of policy and public...

Safe Home Income Plans welcomes coalition

13-05-2010 11:01 - Safe Home Income Plans welcomes coalitionThe newly formed coalition between the Conservatives and the Liberal Democrats has been welcomed by the equity release trade body Safe Home Income Plans (SHIP).

Andrea Rozario, director general of SHIP, said the announcement has put an end to the uncertainty hanging over the country after...

Clearer legislation could benefit equity release

12-05-2010 11:13 - Clearer legislation could benefit equity releaseThe introduction of clearer legislation could boost the property market, one expert believes, which in turn could potentially benefit the equity release sector.

Some "stability and clarity of legislation" is needed in order to create more favourable mortgage conditions, according...

'More competitive' buy-to-let sector could boost equity release

11-05-2010 10:53 - 'More competitive' buy-to-let sector could boost equity releaseOne mortgage provider has announced the introduction of new 80 per cent loan-to-value (LTV) products for buy-to-let property investors, in a move that could boost the future prospects of the equity release sector.

The Mortgage Works has become the only lender to offer 80 per cent LTV...

'Busier' mortgage market could boost equity release sector

10-05-2010 10:58 - 'Busier' mortgage market could boost equity release sectorAn increasing number of homeowners may be able to benefit from equity release schemes in future, after mortgage brokers predicted a more buoyant home loans market over the coming months.

More than half (58 per cent) of mortgage brokers believe that their levels of business will increase in...

Equity release plans could benefit from 'normal' property market

07-05-2010 07:53 - Equity release plans could benefit from 'normal' property marketThe future for equity release plans could be rosy after an expert suggested that the property market may be able to enjoy a sustained period of steady growth.

A reported slowdown in mortgage lending represents "normal progress" as there are likely to be ups and downs as the...

House price growth could boost equity release plans

06-05-2010 11:00 - House price growth could boost equity release plansAn increasing proportion of homeowners may be able to cash in on equity release schemes in the future, after a sustained period of growth in house prices was predicted by one expert.

Ben Wilkie, editor of What Mortgage, said an upward curve in property prices appears likely, although much...

Equity release plans 'jeopardised' by dodgy DIY

05-05-2010 11:14 - Equity release plans 'jeopardised' by dodgy DIYHomeowners are being warned to resist the temptation to over-stretch their abilities in attempting household DIY tasks, as poor quality work could actually lower the value of a property.

As many as 4.05 million homeowners have undertaken electrical jobs without professional help, while 3.3...

Equity mortgages 'best left to private sector'

04-05-2010 11:04 - Equity mortgages 'best left to private sector'The government has been urged to resist the temptation to meddle in the housing market, in news that may interest those looking to benefit from equity release mortgages in the future.

Paul Holmes, chief executive officer of Firstrung, believes the government should "stay well...