How to Swap Equity Release Schemes
Equity release schemes are definitely ingredients in the personal finance maelstrom that more people are starting to enjoy the benefits of. This is because equity release allows people the chance to realise the value in their own home and put this home equity to more practical use and help with their everyday living standards. One […]Read More
Are There Any Early Repayment Charges on Home Reversion Plans?
One aspect of equity release schemes that consumers still have some reticence about is the level of potential early repayment charges. The size of the penalty will be determined by the lender initially selected, the size of the equity release loan and the time period it is redeemed from inception. The amount paid by the […]Read More
What Type of People Are Home Reversion Schemes Most Suitable for?
We know that when retirement eventually dawns on us, that most will still have some baggage to carry into their golden years. This could be by way of a mortgage or secured loan, which once income drops in retirement, may affect their future affordability. This is just one of the categories of people that equity […]Read More
Are Home Reversions Misunderstood?
There are two types of equity release schemes: home reversion plans and lifetime mortgages. While lifetime mortgages have soared in popularity in recent years, the demand for home reversion plans seems to have steadily declined. While home reversion, like any other financial scheme has some disadvantages, it also has some redeeming qualities. The main feature […]Read More
The Dangers of a Home Reversion Plan
Home reversion is a type of equity release, but unlike lifetime mortgages which are loans, home reversion plans involve selling a percentage of your house to the plan provider in exchange for a cash lump sum. The demand for home reversion plans seems to have declined in recent times, and this may be due to […]Read More
What are the Main Features of an Home Reversion Equity Release?
Home reversion plans are equity release schemes that essentially allow you to release some or all of the equity tied into your house without the need to sell the house or move out. As such, you can release equity as a lump sum or as regular monthly payments while continuing to live in the house […]Read More
Why are Home Reversion Plans Less Popular than Interest Only Lifetime Mortgages?
Home reversion plans have seen a marked decline in popularity in recent times. This could be due to a variety of factors, not least because newer, more flexible equity release solutions such as interest only lifetime mortgages are now available. Home reversion plans were much more popular when the only alternative in the equity release […]Read More
Can Negative Equity Exist with a Home Reversion Scheme?
One of the most significant concerns that people have with equity release schemes is that compounding interest on the loan can increase the debt to a point where the sale value of the house is not sufficient to repay the debt. A situation wherein the debt is larger than the value of the home, so […]Read More