{"id":131565,"date":"2022-11-12T14:00:33","date_gmt":"2022-11-12T07:00:33","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-mortgages-could-equity-release-help-with-rising-costs\/"},"modified":"2022-11-12T14:08:58","modified_gmt":"2022-11-12T07:08:58","slug":"uk-mortgages-could-equity-release-help-with-rising-costs","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-mortgages-could-equity-release-help-with-rising-costs\/","title":{"rendered":"UK mortgages: could equity release help with rising costs?"},"content":{"rendered":"


\nRecord numbers of older people are freeing up money from their homes \u2013 but doing so does have its drawbacksAn increasing number of older people are considering dipping into the value stored in their homes to help with the UK\u2019s cost of living crisis.Some want cash to upgrade their boiler or install solar panels for more cost-effective energy, according to equity release advisers such as Samantha Bickford at Clarity Wealth Management. Others are wondering how they can help family members struggling with rising prices. The most common equity release deals are mortgage-based products that are loans secured against your home. Typically, there are no monthly repayments \u2013 the loan, including the built-up interest, is repaid from the sale of the property when you die or go into long-term care. These are known as lifetime mortgages.Bickford recently helped a couple take out a lifetime mortgage on their property to release cash to pay off their daughter\u2019s home loan because rising interest rates meant she was unable to remortgage.\u201cIf homeowners cannot heat their homes or afford a warm meal due to their fear of the cost of living crisis, then using the cash tied up in their property may offer a solution to a problem they could not otherwise solve,\u201d Bickford said.Stephen Lowe at the retirement specialist firm Just Group says during the past year more people have been considering using housing equity to help their families. Continue reading…
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\nSource : theguardian.com
\nRead more…UK mortgages: could equity release help with rising costs?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Record numbers of older people are freeing up money from their homes \u2013 but doing...<\/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-131565","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-ye1","jetpack-related-posts":[{"id":114095,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/equity-release-what-are-the-options-for-older-people\/","url_meta":{"origin":131565,"position":0},"title":"Equity release: what are the options for older people?","date":"February 7, 2020","format":false,"excerpt":"\r Taking cash out of your home is more popular than ever, but other choices could be better for youOlder people are withdrawing \u00a310m a day from their homes \u2013 adding up to \u00a33.4bn last year \u2013 and it\u2019s not just for new kitchens and dream holidays. New research reveals\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67718,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/so-is-equity-release-really-that-bad\/","url_meta":{"origin":131565,"position":1},"title":"So is equity release really that bad?","date":"June 4, 2006","format":false,"excerpt":"\r Maybe not, says Jon Robins, but it pays to think carefully before unlocking the money in your homeAt a time of overstretched pensions and low interest rates, it is hardly surprising that many older homeowners are planning to cash in some of the equity in their homes to make\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122631,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/equity-release-is-on-the-rise-but-should-you-risk-it\/","url_meta":{"origin":131565,"position":2},"title":"Equity release is on the rise \u2013 but should you risk it?","date":"October 17, 2021","format":false,"excerpt":"\r Helping your loved ones get on the property ladder is getting easier and cheaper, but it is not without disadvantages or costsRising house prices are a double-edged sword for many families. Older generations have seen the value of their homes rise while their children and grandchildren struggle to get\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66564,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-55s-take-out-8m-a-day-from-their-homes\/","url_meta":{"origin":131565,"position":3},"title":"Over-55s take out \u00a38m a day from their homes","date":"September 16, 2017","format":false,"excerpt":"\r With the equity release market booming, here\u2019s a guide to unlocking the value in propertyEquity release is booming, with older people withdrawing almost \u00a38m a day from their homes, it emerged this week. And there are more schemes than ever available to over-55s looking to unlock the value tied\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92983,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/equity-release-warning-dont-bet-on-house-prices-rising-forever-bank-of-england-tells-lenders\/","url_meta":{"origin":131565,"position":4},"title":"Equity release warning: Don\u2019t bet on house prices rising forever, Bank of England tells lenders\u00a0","date":"July 2, 2018","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Equity release warning: Don\u2019t bet on house prices rising forever, Bank of England tells lenders\u00a0","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12698,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-people-using-equity-release-to-repay-interest-only-mortgages\/","url_meta":{"origin":131565,"position":5},"title":"More people using equity release to repay interest-only mortgages","date":"May 11, 2016","format":false,"excerpt":"\r Maturing interest-only mortgages are triggering a surge in the sales of equity release plans, figures revealGrowing numbers of people with maturing interest-only mortgages are raiding the equity in their homes to pay off the debt, figures reveal.One of the leading firms specialising in retirement planning said it had seen\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/131565"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=131565"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/131565\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=131565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=131565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=131565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}