Trust in Equity Release July Newsletter



Dear Colleague


Please see below three reasons why

you should not close your minds to

Equity Release

Market News


‘I like my home and want to remain in it’: Banks close

door on pensioner mortgages


More than 1.6 million retired people still have a mortgage. But their biggest problem often

isn’t meeting the monthly repayment — it’s finding a bank or building society that will lend

to them.

Most lenders impose a strict age limit for mortgages of your retirement date or, at most,

75. This can trap pensioners with their existing lender, preventing them from searching

out the cheapest deals available to younger borrowers.

Source: Tony Hazell – Mail Online, 22 May 2013


One in seven to retire without a pension


One in seven workers planning to retire this year will be solely reliant on the state for their

income. These pensioners will have to survive on just £170 a week – compared with an

average weekly income of £322 should they have saved into a private pension.

When questioned, workers overestimated the amount of annual income the state pension

would provide them by more than £600 a year. The lack of retirement saving is so bad

that one in five workers retiring this year will below the poverty line – meaning they will

have an annual income of less than £8,254.

Source: Emma Wall – The Telegraph, 22 May 2013


Equity release confidence rises 23% in a year – ERSA


A poll from the Equity Release Solicitors’ Alliance (ERSA) found the percentage of those

considering equity release has increased from 54% to 77% over the past year.

Equally, the percentage of consumers with a negative view of equity release has fallen

from 42% to 23% over the same period.

Source: Fiona Murphy IFA Online, 15 May 2013


Equity Release includes home reversion plans and lifetime mortgages. To

understand the features and risks, ask for a personalised illustration.

For equity release we can be paid by commission, or a fee of usually £895 or a

combination of both.

Your home may be repossessed if you do not keep up repayments on your


For mortgages, we do not usually charge for administering your mortgage

application as we receive a commission from the lender. Alternatively, you can

opt to pay 0.40% of the value of the loan and receive a refund of commission

from the lender on completion.


IF YOU THINK I CAN HELP RING ME ON 01704 512120 OR 07714 414545


Steve Harrison CeMAP, CeRER

Equity Release Consultant



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