Silver lining for equity release

A drying up in the number of available conventional mortgages and mortgage products, and increasing lenders' margins, has made life difficult for homeowners and advisers. This year, some 2.76 million homeowners are coming off fixed-rate mortgages with an average rate of 4.8%, and are facing a move to significantly higher rates. With tough times forecast to continue, the flexibility offered by new generation equity release products gives both home owners and advisers light at the end of the tunnel. Refresh knowledge Brokers who have not kept abreast of product innovations, yet have a...