{"id":131414,"date":"2022-11-07T14:00:01","date_gmt":"2022-11-07T07:00:01","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-equity-release-an-option-when-my-mortgage-fix-ends-or-am-i-too-young\/"},"modified":"2022-11-09T17:07:32","modified_gmt":"2022-11-09T10:07:32","slug":"is-equity-release-an-option-when-my-mortgage-fix-ends-or-am-i-too-young","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-equity-release-an-option-when-my-mortgage-fix-ends-or-am-i-too-young\/","title":{"rendered":"Is equity release an option when my mortgage fix ends or am I too young?"},"content":{"rendered":"


\nI am 60 next year and the outstanding mortgage on the \u00a3300,000 property is \u00a3150,000Q Should I explore equity release when my two-year fixed-rate deal (on my 15-year repayment mortgage) comes to an end? I am 60 next year and intend to work until I am 67. I have a number of decent local authority and private pensions, and also \u00a340,000 in additional voluntary contributions, which should cover any mortgage payment after retirement. My property on the market would fetch about \u00a3300,000, and my outstanding mortgage is \u00a3150,000 (but probably \u00a3130,000 when the fixed rate expires). I bought last year at the peak of the market.I have no children and nobody that I want to leave the property to after my death. So I have little ambition to pay off the mortgage (although I would use the AVCs towards it).What is important to me is low monthly payments. Should I look at equity release, or am I too young?SK Continue reading…
\n
\nSource : theguardian.com
\nRead more…Is equity release an option when my mortgage fix ends or am I too young?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I am 60 next year and the outstanding mortgage on the \u00a3300,000 property is \u00a3150,000Q...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-131414","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-ybA","jetpack-related-posts":[{"id":11972,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/barclays-launches-lowest-ever-10-year-fixed-rate-mortgage\/","url_meta":{"origin":131414,"position":0},"title":"Barclays launches lowest ever 10-year fixed-rate mortgage","date":"January 7, 2015","format":false,"excerpt":"\r Latest salvo in mortgage war is good news for buyers and professionals as property market dipsBarclays has fired the latest salvo in a new mortgage price war by launching the lowest ever 10-year fixed-rate loanThe mortgage, which is available from 8 January and comes with a \u00a3999 fee, allows\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63204,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/extraordinary-interest-rates-on-10-year-fixed-rate-mortgage-deals\/","url_meta":{"origin":131414,"position":1},"title":"\u2018Extraordinary\u2019 interest rates on 10-year fixed-rate mortgage deals","date":"November 2, 2014","format":false,"excerpt":"\r Is a decade too long to tie yourself into a mortgage? 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Lenders don\u2019t seem to think so and have started to launch decade-long fixed-rate deals with \u201cextraordinary\u201d\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":145985,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgage-refinance-demand-drops-further-despite-homeowners-sitting-on-17-trillion-in-equity\/","url_meta":{"origin":131414,"position":2},"title":"Mortgage refinance demand drops further, despite homeowners sitting on $17 trillion in equity","date":"July 10, 2024","format":false,"excerpt":"\r The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased last week to 7.00% from 7.03%.\r \r Source : cnbc.com\r Read more...Mortgage refinance demand drops further, despite homeowners sitting on trillion in equity","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8762,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-use-savings-to-pay-off-part-of-our-help-to-buy-loan\/","url_meta":{"origin":131414,"position":3},"title":"Should we use savings to pay off part of our Help to Buy loan?","date":"August 7, 2014","format":false,"excerpt":"\r A reader wonders whether to use savings on Help to Buy, or to reduce her main mortgage \u2013 or to wait to remortgageQ My husband and I purchased a new-build house for \u00a3300,000 in January 2014, with a \u00a340,000 deposit, \u00a360,000 Help to Buy equity loan and a \u00a3200,000\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37416,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-take-a-risk-on-a-more-expensive-house\/","url_meta":{"origin":131414,"position":4},"title":"Should we take a risk on a more expensive house?","date":"September 4, 2013","format":false,"excerpt":"\r We can't decide whether to spend \u00a3300,000 on our ideal house or play it safe and spend up to \u00a3250,000Q We have a \u00a3130,000 deposit for a home which is made up of savings and the equity from our current house. 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