New flexible Lifetime Mortgages on the market
The Equity Release Market is constantly evolving. Providers of equity release products are continually innovating to create flexible lifetime mortgages and other products to suit clients in a variety of financial and personal circumstances.
Following the growth in popularity of equity release products in 2021, approximately 20,000 new customers have already unlocked wealth in their properties in the first quarter of this year.
How are Lifetime Mortgages adapting?
The Equity Release Council confirmed this week there are now 665 mortgage products available in the marketplace which is an increase of 65.8% from 401 products in just 2 years since 2020 as lenders continue to provide more flexibility and innovative features to provide a better solution for more customer circumstances.
One provider has just launched a new lifetime mortgage with early repayment charges that only last for the first 5 years, making the product more reflective of a standard mortgage with an unsurpassed increase in potential LTV ratio of 60.7% for those clients looking for the maximum cash release (subject to age)
How can we help?
The explosion of new products to the Equity Release Marketplace can feel overwhelming for prospective customers. By working with North East Equity Release, we can help take the stress and anxiety out of finding the right product for you.
We will take the time to research the whole of the market and assess the features, benefits, drawbacks and penalties involved in every Lifetime Mortgage product.
Whether your priority is inheritance protection or you are concerned about early repayment charges, future home moves, interest rates or how equity release could affect your state benefits, we have the answers to your most pressing questions.
Remember that with any Lifetime Mortgage product, you’ll always keep your home until you move into long-term care or pass away.
If you’re interested in learning more about Flexible Lifetime Mortgages, don’t hesitate to get in touch. We offer a free, no obligation consultation, free of any unnecessary jargon.
