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  • FIRST POST
    • waningsleep
    • By waningsleep 14th Mar 17, 2:44 PM
    • 32Posts
    • 7Thanks
    waningsleep
    Martin on TV
    • #1
    • 14th Mar 17, 2:44 PM
    Martin on TV 14th Mar 17 at 2:44 PM
    Congrats to Mr.Lewis on TV yesterday.Espicially for bringing the subject of Equity Release into focus and pointing out some of the inherent consequences that some people dont understand or are not made totally aware of before committing themselves and also their families too before taking out a Lifetime Mortgage.Get a 10 or 15 year forecast on what money you will owe in the future before you sign and look to other alternatives if you can.
    Last edited by waningsleep; 14-03-2017 at 4:12 PM. Reason: Spelling errors.
Page 1
    • dunstonh
    • By dunstonh 14th Mar 17, 4:00 PM
    • 88,110 Posts
    • 53,339 Thanks
    dunstonh
    • #2
    • 14th Mar 17, 4:00 PM
    • #2
    • 14th Mar 17, 4:00 PM
    Given the usual short timescale he has, I am surprised anything of real value could be given regarding equity release other than a) use a solicitor and b) use an adviser.

    That is all you need to worry about as the adviser is required to look at all alternatives and cover the risks and the solicitor will cover the risks again.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • waningsleep
    • By waningsleep 15th Mar 17, 7:48 PM
    • 32 Posts
    • 7 Thanks
    waningsleep
    • #3
    • 15th Mar 17, 7:48 PM
    Martin on TV
    • #3
    • 15th Mar 17, 7:48 PM
    Martin only replied to one caller but in that short time did say some significant things.To realise that with compounded interest the 15000 he wanted to release would increase to a repayment of 50,000 sometime in his future.He did add that he felt that the least anyone released and the later in life so much the better.
    • Sleazy
    • By Sleazy 15th Mar 17, 7:52 PM
    • 5,609 Posts
    • 4,596 Thanks
    Sleazy
    • #4
    • 15th Mar 17, 7:52 PM
    • #4
    • 15th Mar 17, 7:52 PM
    Que ?
    Signed Sleazy
    The Last Of The Lounge Lizards
    • Malthusian
    • By Malthusian 16th Mar 17, 5:10 PM
    • 2,187 Posts
    • 3,052 Thanks
    Malthusian
    • #5
    • 16th Mar 17, 5:10 PM
    • #5
    • 16th Mar 17, 5:10 PM
    OP, you should have replied to your previous thread instead of posting what looks like a non-sequitur as a new thread.
    • Thrugelmir
    • By Thrugelmir 16th Mar 17, 7:02 PM
    • 53,744 Posts
    • 46,510 Thanks
    Thrugelmir
    • #6
    • 16th Mar 17, 7:02 PM
    • #6
    • 16th Mar 17, 7:02 PM
    Martin only replied to one caller but in that short time did say some significant things.To realise that with compounded interest the 15000 he wanted to release would increase to a repayment of 50,000 sometime in his future.He did add that he felt that the least anyone released and the later in life so much the better.
    Originally posted by waningsleep
    Did he say also to enjoy life while you can. Rather than worrying about how your dependents will waste their inheritance for you.
    “ “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” Sir John Marks Templeton
    • waningsleep
    • By waningsleep 17th Mar 17, 2:36 PM
    • 32 Posts
    • 7 Thanks
    waningsleep
    • #7
    • 17th Mar 17, 2:36 PM
    Martin on TV
    • #7
    • 17th Mar 17, 2:36 PM
    Further to Martins TV apperance he did seem to sign off by indicating he was not happy with the concept of Equity Release.Given more time he maybe could have explained the implications of compound interest
    and that there s not much enjoyment in people having to stop spending as they see their families inheritance dwindle at an increased rate,i.e.thousands of pounds per year.
    • dunstonh
    • By dunstonh 17th Mar 17, 3:19 PM
    • 88,110 Posts
    • 53,339 Thanks
    dunstonh
    • #8
    • 17th Mar 17, 3:19 PM
    • #8
    • 17th Mar 17, 3:19 PM
    Further to Martins TV apperance he did seem to sign off by indicating he was not happy with the concept of Equity Release.
    Its a shame that his opinion is wrong in a number of areas but taken as gospel by so many. He slags off critical illness cover and we have seen posters say they wont take it out because of him.

    You will find it easier to click reply to the existing thread rather than press new thread. This keeps your posts on one thread rather than creating new threads with every reply.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • PeacefulWaters
    • By PeacefulWaters 17th Mar 17, 3:23 PM
    • 6,378 Posts
    • 7,815 Thanks
    PeacefulWaters
    • #9
    • 17th Mar 17, 3:23 PM
    • #9
    • 17th Mar 17, 3:23 PM
    He slags off critical illness cover and we have seen posters say they wont take it out because of him.
    Originally posted by dunstonh
    Yes. I was quite pleased to receive £32,000 last month.
    • bigadaj
    • By bigadaj 17th Mar 17, 9:19 PM
    • 9,141 Posts
    • 5,842 Thanks
    bigadaj
    Any comments on the waspi support?

    He does back some strange horses.
    • waningsleep
    • By waningsleep 18th Mar 17, 11:55 AM
    • 32 Posts
    • 7 Thanks
    waningsleep
    Martin on TV
    Congrats again to Martin.I have noticed to good affect his fav.word is Switch.Must have saved the public thousands Most swiching can be free but way not for Equity Release.Someone I know wanted to change providers and cut the compound interest being charged by a third.He was then informed he would have to pay an Early Repayment charge of 25% of his original loan by this particular provider About 18,000 in his case.
    Talking of changing your mind is there a legal cooling off period attached to these Lifetime Mortgages initially.
    • Browntoa
    • By Browntoa 30th Mar 17, 8:02 PM
    • 31,204 Posts
    • 36,900 Thanks
    Browntoa
    Merged all your threads with the same titles into one thread
    I'm the Board Guide of the Referrers ,Telephones, Pensions , Shop Don't drop ,over 50's and Discount Code boards which means I'm a volunteer to help them run smoothly and I can move and merge posts there. However, please remember, board guides don't read every post. If you spot an inappropriate or illegal post please report it to forumteam@moneysavingexpert.com Any views are mine and not the official line of MoneySavingExpert.
    • dunstonh
    • By dunstonh 30th Mar 17, 10:29 PM
    • 88,110 Posts
    • 53,339 Thanks
    dunstonh
    Browntoad, I think you could merge all the other posts he/she makes. I think waningsleep hasnt realised that you can press "post reply" and seems to use new thread with every post made.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
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