Lifetime Mortgage

Onlooker

With regard to our postings and replies from the industry supports none of which have been reported may we point out that none of the figures we have produced have been disputed.
These figures will be subject to examination by any independant you may use before committing to signing..The financial times alive at the moment should make everyone wary of the future.Waiting would probably save you monies and either way give a picture of your own financial probabilities.Consider.

Onlooker

No discussion with regard to cost of switching providers.No discussion with regard to charities accepting commission from providers.
in the uncertain times of the day an option to wait till all the current comings and goings are concluded.For every year in the future savings will be made against your property if you wait as long as you can before opting for equity release witch by the way is not the cheapest option to raise monies against your paid up property.Consider

Brock_and_Roll

Perhaps it is time to stop this thread? Consider.

OP is just posting a series of incoherent statements.....

in the uncertain times of the day an option to wait till all the current comings and goings are concluded.

We seem to have strayed a million miles from the initial post where the OP, has in a nutshell, finally woken up to the fact that if you borrow a large amount of money upfront to spend today and dont pay any of it back for the remainder of his lifetime, then depending on how long he lives and house price inflation/deflation, it might work out well or badly.

Onlooker

MSE is there for all to see and read which will inform people of different opinions of many subjects.Read them from all points of view. You and yours may be guided towards your decisions on the future A Lifetime Mortgage is apart from anyones initial house purchase is a lifetime decision.
Up to date no one employed in the equity release financial industry has admitted to buying their own products or offering them to their own famlllies
None of our figures have been disputed so can be doubled checked by your own agent before taking out what can be a mortgage for the rest of your lifetimes.Consider

ACG

There are not many people who are in the equity release industry on this forum so it is hardly representative (I am not involved in equity release btw).

If people are still working then it is unlikely they would need equity release at the moment, so that slims down the pool further.

You would also assume that people employed in financial services would not be needing equity release as they kept their payment plan in place? They may want to pull money out of their home as they get older, but if they are in that position the chances are they probably retired before equity release became more mainstream.


Consider.

mrsnobody

Onlooker, did you not see my post on 27th September?

kingstreet

mrsnobody wrote: »

Onlooker, did you not see my post on 27th September?

Why do you think you might get a reply, no-one else has?

Onlooker

The MSE pages are open for all to read.For all to see the alternatives and make informed decisions
One subject not given enough views is the cost of downsizing as an alternative to getting involved in the interest compound charges involved in taking up a Lifetime Charges.
Stamp Duty is applied only once,done and paid for.
The net duty on a £250,000 property is £2500 .i.e 1% 1,67% i,e £5,000 on a £300,000 property ,2.14% i.e.£7,500 on a £350,000 property.
Costs only applied once unlike the rising annual interest for a unknown lifetime.
The other professional fees will not be very different either way.Consider

mrsnobody

Why do you think you might get a reply, no-one else has?

Good point Kingstreet, wishful thinking perhaps?

Thrugelmir

No discussion on this thread just a rehashing of what's been said over and over again.