Keeping abreast of an evolving equity release market is important to ensure that the best products & services are found. You will find our Interest Only Mortgage News section full of interesting news articles around the world of equity release schemes including tips & case studies where equity release has been of assistance. Feel free to read at your leisure & you can be assured that Interest Only Lifetime Mortgages look forward to your comments.
Interest Only Lifetime Mortgages Explained
Each of the equity release news articles below can be read in summary & if of interest can be opened up to read on an individual basis. Please note the additional pages of newsworthy lifetime mortgage information about their uses, succinct features & how they provide equity release solutions to many issues akin with retirement. We hope you enjoy the news content contained herein & don’t hesitate in contacting us if you have any queries…
The Equity Release Safety Net for Those Reaching Retirement Age with a Mortgage
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The Equity Release Safety Net for Those Reaching Retirement Age with a Mortgage | ||
Statistics show that today more people than ever before are carrying their mortgages into retirement. What was once almost considered a financial secret is now fairly common practice. The truth is that changing social and economic trends mean that many of us are simply not able to repay our mortgage until retirement age. There are many options for those who are left with a mortgage during retirement. | ||
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How Much Can I Borrow on an Interest Only Mortgage?
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How Much Can I Borrow on an Interest Only Mortgage? | ||
An interest only mortgage is a type of mortgage where the capital remains constant and only the interest must be repaid, usually in monthly instalments. There are currently interest only mortgages like the Leeds Building Society retirement mortgage, or the Stonehaven Interest Select Plan. Each has a different set of rules. | ||
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What is the Future Outlook for the Pensioner Mortgage?
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What is the Future Outlook for the Pensioner Mortgage? | ||
Having a mortgage during retirement was considered taboo until not so long ago, and products such as the Halifax interest only lifetime mortgage, which proved so popular recently, may well have been blacklisted in those days. However, changing social and economic trends have changed the way we think about borrowing. Mortgages and loans have evolved to suit individual needs, and today borrowing has very much become a part of the social fabric. | ||
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Can the Halifax Retirement Home Plan Still Offer Equity Release to its Customers?
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Can the Halifax Retirement Home Plan Still Offer Equity Release to its Customers? | ||
The Halifax Retirement Home Plan was pulled out of the market in August 2011, much to the disappointment of many prospective clients. Even now people are still looking for the Retirement Home Plan, due to the fact it had been earmarked as their retirement mortgage tool of choice. Unfortunately, a considerable number of new retirees have now reached their hour of need and find this form of Halifax equity release scheme is no more. | ||
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Is Now the Best Time to Take out an Interest Only Lifetime Mortgage With Interest Rates Being So Low?
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Is Now the Best Time to Take out an Interest Only Lifetime Mortgage With Interest Rates Being So Low? | ||
The retirement mortgage market is hotting up as we speak. There is a genuine need for retirement credit solutions and the Halifax Retirement Home Plan previously proved this. The market may not be very dynamic at the moment, but this is not likely to last very long. More lenders will be entering the market very soon, and the increased competition could make interest only mortgage interest rates much more competitive. | ||
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How Flexible are the Monthly Payments on an Interest Only Lifetime Mortgage?
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How Flexible are the Monthly Payments on an Interest Only Lifetime Mortgage? | ||
Interest only lifetime mortgages have become increasingly popular among customers lately thanks to their flexibility and the control they offer over repayments. But how flexible are the monthly payments really? And which providers offer an actual interest only lifetime mortgage? | ||
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Is the Inheritance Protection Option Still Required on an Interest Only Lifetime Mortgage Plan?
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Is the Inheritance Protection Option Still Required on an Interest Only Lifetime Mortgage Plan? | ||
A lifetime mortgage is a type of equity release mortgage which can go on until the end of life. An interest only lifetime mortgage is a type of lifetime mortgage, where you have the option of making full monthly interest repayments. Interest only lifetime mortgages have proved to be very successful since they were first introduced in the equity release market. This is because they offer exceptional flexibility and control over their repayment. | ||
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Should I Take Life Assurance to Cover a Mortgage in Retirement?
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Should I Take Life Assurance to Cover a Mortgage in Retirement? | ||
There are various forms of retirement mortgages. While some only require monthly interest repayments for life, such as the Stonehaven interest only lifetime mortgage, there are others that last a fixed term and need to be repaid after that. The Leeds Building Society and Mansfield Building Society are such retirement mortgages that will run for a fixed number of years into retirement. | ||
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What Can You Spend the Proceeds of an Interest Only lifetime Mortgage On?
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What Can You Spend the Proceeds of an Interest Only lifetime Mortgage On? | ||
There is usually an upside and a downside to almost everything and this is also true in the case of financial schemes and mortgages. Whether a particular mortgage suits you or not depends more on your individual needs and state of affairs, than solely on the terms of the mortgage. An interest only lifetime mortgage may be suitable for some retirees and may not work for others. Here is how an interest only lifetime mortgage like the Stonehaven Interest Select Plan works. | ||
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Which is the Best Interest Only Lifetime Mortgage Scheme?
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Which is the Best Interest Only Lifetime Mortgage Scheme? | ||
Firstly, we need to determine what aspect of an interest only lifetime mortgage is the most important to consider it as the best. Before we do that, let’s summarise.We are assuming that our interest only lifetime mortgage requires monthly payments of interest, and the balance on the mortgage remains the same until the mortgage is over. | ||
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Should I Pay Off My Mortgage Before I Retire?
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Should I Pay Off My Mortgage Before I Retire? | ||
Economically and socially, many over 55's are finding times hard adapting to the vastly changing technology based landscape we live in today. Is it now a young person’s dream, or possibly an older person’s nightmare, for those reaching retirement age without the best laid plans ahead of them? It is becoming increasingly common for people carrying over pre-existing mortgages into their retirement years, whether they like it or not. | ||
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How Popular are Interest Only Mortgages in Retirement Set to Become?
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How Popular are Interest Only Mortgages in Retirement Set to Become? | ||
Interest only lifetime mortgages have proved to be increasingly popular since they were first introduced into the equity release market. There are several factors that have contributed to their continued success, and by the look of things, interest only mortgages during retirement will see increased demand in the future. | ||
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Do Lifetime Mortgages Companies Take Ownership of Property and Keep My Deeds?
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Do Lifetime Mortgages Companies Take Ownership of Property and Keep My Deeds? | ||
Lifetime mortgages are mortgages that have no fixed term, and can potentially go on until the end of life, or until early sale for some other reason. There are different types of lifetime mortgages, including interest only lifetime mortgages, roll up mortgages, and drawdown lifetime mortgages. Irrespective of the structure of repayment, a lifetime mortgage plan does not involve selling any part of your house to the loan provider. | ||
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Can I Convert My Interest Only Lifetime Mortgage Plan into a Roll-up Equity Release Scheme?
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Can I Convert My Interest Only Lifetime Mortgage Plan into a Roll-up Equity Release Scheme? | ||
Interest Only Lifetime Mortgages are secured loans that have no fixed term and means they can go on until the end of your life or until the property is sold for some other reason. You are free to make full or partial interest repayments each month and thus have more control on the loan balance. Let’s take a look at interest only lifetime mortgage roll-up options. | ||
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