MARKET OPPORTUNITIES – LATER LIFE LENDING.

By 28th June 2019 Mortgages

THE FUTURE OF RETIREMENT LENDING IS VAST AND BRIGHT. FIGURES PUBLISHED EARLIER THIS YEAR SHOW THE LIFETIME MORTGAGE MARKET HIT ALMOST £4BN IN 2018.1 HERE AT PRIMIS WE WANT TO SEE AS MANY OF YOUR LATER LIFE CLIENTS BENEFIT FROM THEIR HOUSING WEALTH AS POSSIBLE. THE CHOICE AND FLEXIBILITY OF LATER LIFE PRODUCTS ARE LEADING MANY THOUSANDS OF PEOPLE TO A BETTER RETIREMENT.

RETIREMENT INTEREST ONLY MORTGAGES

Retirement interest only (RIO) mortgages bridge a gap in the market for older borrowers that allows them to stay in their home for longer without making the commitment to equity release. They differ from standard interest only mortgages because the loan will only be repaid when your clients sell the property, die or go into long-term care. Affordability calculations only look at if your clients can afford the interest payments, not to repay the capital. There are several panel options for you to utilise this type of product.

EQUITY RELEASE

Equity release can support your clients through difficult times, but can also sustain a happy enjoyable retirement. The diverse range of plans now available offer flexibility. Your clients can access a lump sum, regular payments or a combination of both depending on their need. Guaranteed inheritance features, downsizing protection and flexible payment options, along with low interest rates, see £11 million released in the UK every day.

Later this year equity release permissions will be available across the entire network enabling all CeMAP qualified brokers to take their equity release qualification or, should you already hold an equity release qualification, become authorised in this area. Make sure you register your interest in this exciting opportunity so you don’t miss out.

EQUITY RELEASE COUNCIL MEMBERSHIP

We are delighted to announce that any equity release brokers within PRIMIS now have the opportunity to join the Equity Release Council. Being part of the Equity Release Council entitles you to use of their kitemark logo, access to networking opportunities, comprehensive guidance throughout the advice process, visibility to consumers via the Council’s website and many other benefits.

  1. https://www.ftadviser.com/mortgages/2019/01/24/
    equity-release-nears-4bn-mark/
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