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equity release
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brimalam
Posts: 1 Newbie
can you give any advice on the release of equity? We have property, no dependants, so any thoughts on how to release any equity we have so that we may have more financial stability now? ???
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I'm sure I've read that you can release equity in your property at the age of 55 or above. This will obviously depend on which company you use and many other factors no doubt .... HTH a little.
Wins since 2009 = £17,600MANY THANKS TO ALL OPS0 -
Be wary of equity release.
It is a high risk area (for advice) and it is on the list of areas that has the potential to be a mis-selling saga.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
High fees and higher rates- a way of the lenders finding a new market for profits
that said if you want to spend your equity- thats your choice , just be careful
Use a financial adviser who has obtained the new specialist FSA authority for this "lifetime mortgage" area.
perferably a no fees brokerAny posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0 -
Use a financial adviser who has obtained the new specialist FSA authority for this "lifetime mortgage" area.
perferably a no fees broker
Personally i refuse to do these myself. If I was to get someone that was very sure that this is what they wanted, I would just pass them on to my network and give them the liability for the advice. Getting a network to provide the advice is not a bad idea as they tend to be more paranoid about things and more up on recent affairs in that area as its all that that particular department would do.
You can just see the FSA moving the goal posts in a few years time and then backdating it.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
DD,
I can see you point, ( and on my FSA application , I decided not to apply for that particular authorisation)
Although by not offering to cover all areas of advice , it does show that firms / individuals can "specialise"- ( referring on other areas) and thus I also see nothing wrong with advisers specialising in the "pure protection market" under FSA regulation rather than being a fully fledged IFA ( re comments on a different thread)
Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0 -
DD,
I can see you point, ( and on my FSA application , I decided not to apply for that particular authorisation)
Although by not offering to cover all areas of advice , it does show that firms / individuals can "specialise"- ( referring on other areas) and thus I also see nothing wrong with advisers specialising in the "pure protection market" under FSA regulation rather than being a fully fledged IFA ( re comments on a different thread)
I have no problem with advisors specialising on pure protection if it is whole of market or even large panel. Its the tied or small panel protection only market that I am less than keen on.
I am not so keen on the pure protection factfind (i know they will differ from company to company) but it is rather on the "tell me what you want, i will write it down and lets call it a factfind" style.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
obviously getting off topic , but yes- does seem that the "multi tie" will come in with a lot of intermediaries.Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0
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...............................I have put my clock back....... Kcolc ym0
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http://213.210.5.55/website/brochures/brochure.asp?id=14
try that link as unbiased tend to revert everything back to the homepage.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
this has rather gone away from the original question - brimalam, if you still require some info I can get someone to talk to you - do you have any specific questions?I work for a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.( I have ammeded this signature slightly, as I do not actively provide mortgage advice. However, I support and adhere to the moneysavingexpert mortgage broker code of conduct)0
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