Interest-only mortgages are a type of mortgage where the borrower only pays the interest on the loan, and not the capital. This means that at the end of the mortgage term, the borrower still owes the original amount borrowed. In the 1990s, there was a boom in interest-only mortgages, and many homeowners who [...]
Equity release has gained popularity among homeowners who are in their retirement years and wish to access the equity in their home without having to sell it. The cost of living continues to increase, and inflation has hit double digits, making equity release a valuable solution for supplementing retirement income. According to a recent [...]
As we approach the winter months, it inevitably gets colder and we’re all looking for ways to keep warm. But putting the heating on or using our electric to keep toasty is coming with significantly higher bills and many are struggling to afford the huge increases so what other options are there? For the [...]
People over the age of 50 often find it difficult to get a mortgage because many lenders will not take future income, such as pensions, into account. But some lenders do, in particular those who offer retirement interest-only mortgages (RIOs). Later life borrowers who find they cannot get a mainstream mortgage, often turn first [...]
While many of us may have become incensed by or frustrated with our spouses during the last two years’ increased time at home, many have also felt the need to file for divorce. In fact, the latest ONS data has revealed that in the over 65s, there has been a 46%* Year on [...]
As we get older our needs change. We may find we have less stability and some of us may even see our overall health in decline. Does that mean you (or your loved ones) need to leave your home and move into residential care? Not necessarily. What if you could receive care at [...]
The cost-of-living crisis is not something that will have passed you by unnoticed. But for many of those in their retirement years, the phrase “eating or heating” is not a new one. Many of us are seeking new ways to budget to afford the significant price hikes in energy bills, the rise in [...]
As we get older many of us begin to make alterations to our homes to suit our living requirements and desires. Perhaps we’ve become less physically able and alter our homes to accommodate our new needs? Sometimes the solution may be to move home altogether. Perhaps to be closer to loved ones who [...]
Over 55s could be sat on more equity in their homes than they realise, especially given the house price growth seen in 2021. The two main products available to those heading into their retirement years are Lifetime Mortgages (more commonly known as Equity Release) and Retirement mortgages. With the equity release lifetime mortgage, people [...]
As we get older many of us begin to make alterations to our homes to suit our living requirements and desires. Perhaps we’ve become less physically able and alter our homes to accommodate our new needs? Sometimes the solution may be to move home altogether. Perhaps to be closer to loved ones who [...]
