An eventful year for Equity Release

As published in Torbay Weekly:   Equity Release;-  2022 in numbers With Christmas and new year now firmly behind us let`s take a look at some of the numbers and statistics around Equity Release in 2022- a somewhat eventful year in many ways! The statistics and comments are extracts from the Equity Release Council end of year summary, as follows;- “2022 saw record activity with 93,421 new and returning customers choosing to access their property wealth via Equity Release products, up 23% year...

How Much??

Came the famous Yorkshire war cry as yours truly pulled up at the filling station to fill up and saw the price of diesel, at just a tenth of a penny underneath the £1-50 a litre mark! Assuming that readers on equity release still think in gallons and drink in pints that tots up to £6-75 a gallon in old money. What was even more sobering was the realisation that the £75 it cost me to  fill up after running...

Possibility of raising extra cash on her existing equity release plan

Mrs S actually came to us making an enquiry about the possibility of raising extra cash on her existing equity release plan, established elsewhere previously.. This was to help with a number of needs, briefly, some essential repairs to double glazing and back door for security reasons and  replacing her car with a newer , more reliable model were the main requirements. She was able to clear a credit card and also leave some spare money as a rainy...

Money needed for home improvements and debts

Mr.H, although  79, was looking to finally retire, principally needing around £6000 to finally settle an overdraft and other business debts. Alongside this, monies were also needed for home improvements and setting a contingency fund up, whilst also covering fees and looking at a short holiday. Raising £21000 initially, he was able to establish a drawdown/ reserve pot for future use. This drawdown pot was used recently, with minimal fuss, to raise another £2000 to just top this year`s income...

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