Retirees urged to review eq release plans

The equity release market continues to buck the trend of economic gloom, as it grows as a result of increased competition between advisers, says the company. In turn, lifetime mortgage rates over the last five years have fallen dramatically. Current rates stand as low as 6.09%, more than 1% lower than some of the rates available in 2003, it adds. Dean Mirfin, business development director at Key Retirement Solutions, says: “For most consumers an equity release plan is something they expect to have for the rest of their lives so it is important not to forget that there may be better rates...