Monday April 6, 2020

Equity loans: A new lease of life?

Products that let borrowers tap into the value of their home got a bad reputation after the crash. If there is a revival, expect them to be significantly different

18th August, 2019
Seniors Money, one of three lenders that offered equity release loans, has announced that it will resume lending later this year or in early 2020

Equity release or ‘lifetime’ mortgages have been making a comeback in Britain, with its ageing population of unencumbered homeowners keen to boost their pension incomes.

There are now nearly 40,000 new customers every year in Britain for these products, which are advertised as the perfect solution for those who are asset-rich but income-poor.

The loans typically allow homeowners aged from 55 to 66 to draw down tax-free lump sums from the equity in their...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Most policies don’t include pandemics, so the government may be forced to step into the breach to share the burden, experts say

Peter O'Dwyer | 2 weeks ago

The Covid-19 outbreak has highlighted the importance of public health medicine, but the service is badly in need of reform

Priscilla Lynch | 2 weeks ago

The pandemic is a humanitarian tragedy, but it will also leave a lasting mark on the global economy with, currently, Europe being hardest-hit

Eugene Kiernan | 2 weeks ago