Aggregrating the Best Equity Release News…

After hearing the bad press related to equity release and the fact that everyone seems to talk about the product very tentatively, I can’t help but wonder whether this is as a result of the demographics of those taking out equity release. Whilst the more suspect ’below market value’ companies have been swept under the rug and dismissed as a less worthy cause of concern, equity release is now fully regulated by the FSA and carries a lot of stigma about it.

The difference between the two? One is aimed at everybody and the other is aimed at over 55’s. It is this age-specific targeting that, I believe, has created the fuss. Targeting the over 55’s has the same connotations of vulnerability that come with advertising fatty foods to children.

What concerns me is that in every other industry or circumstance, older people are considered the sage of society; the wise owls that many seek counsel and admonition from. So why is it, when it comes to anything online or any type of financial product, do we treat the over 55’s with kid gloves? Stepping in like a valiant soldier to save them from their own decisions. Do we suppose for one minute that they are blindly falling for equity release like lemmings? Or rather, is it that they have put the same amount of thought into equity release as they have in every decision they have made throughout their life?

I suppose that we stop this jumping to the gun and trust the very same people that have raised us to be the people that we are today. To do anything less would be patronising to those who far more intelligent and wise than us. I am not for persuading anybody to take out equity release mortgages, I am simply for respecting the decisions of those who opt to do so.

In a recent story published on WhatMortgage.co.uk, a banking expert recently claimed that equity release has been getting arbitrary bad press.

“In an age of financial shocks, inadequate pension provision, low annuity rates and burgeoning levels of personal debt it seems somewhat hasty to arbitrarily downgrade one of the possible solutions. All options should be considered on their merits,” said Black.

This goes to show the merits of equity release as a means of providing a solution to current and very real issues that people are facing.

Hi

My name is Steven Wilkie, partner at Responsible Equity Release UK. This is a blog which I will try to keep updated on a regular basis. As well as news on equity release, I will be trying to do updates on Cash For House services and other things property related.
Keep checking back because there will be more news.

TO GO BACK TO THE HOME PAGE CLICK HERE

Thanks
Steven Wilkie LLB

Being well versed in the real estate industry, I am always asked “Is equity release going to be around a while?” to which my answer is always yes. I think it will be because for those suited to equity release, it is a great product. It acts as a personal pension fund wherein a lifetime’s worth of mortgage payments act as a savings account. With many people ill prepared for retirement, an extra savings pot can come in handy and many find this very attractive as well as practical, considering how much inheritance tax is set at.