News & Resources

Green light for new type of home loan

Product choice broadened in the later life lending sector

In an effort to broaden product choice in the later life lending sector, the Financial Conduct Authority now treats Retirement Interest Only (RIO) mortgages as standard mortgages, instead of being regulated under Equity Release rules. This factor, among others, has resulted in several lenders adding RIO mortgages to their offering.

These deals could help thousands of people who have an interest-only home loan that’s coming to an end, but don’t know … Read the rest

Bank of Mum and Dad

Innovative products to be created for would-be home owners

The Building Societies Association (BSA) have recently published a raft of recommendations as to how the mortgage industry can support the Bank of Mum and Dad in their endeavours to help first-time buyers onto the property ladder.

They have called for more innovative products to be created to enable parents and grandparents to loan or gift money to family members who are would-be home owners. The BSA also wants building societies … Read the rest

Millennials get real with the numbers

Making sacrifices for home ownership over retirement

Millennials are chasing the home ownership dream at the potential cost of a lower income in retirement, new research[1] shows. Over a third (35%) of millennials say they prioritise saving for a deposit on a home instead of their retirement. Nearly a fifth (19%) say buying a house is the main reason they don’t save more into their pension, while 10% say student debt stops them saving into a pension. One in 11
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Stamp duty rule changes

What could the shake-up mean for you?

A shake-up of the stamp duty rules took effect on 1 April 2016 in relation to anyone owning more than one residential property – this will affect those buyers funding the purchase of a new home with the sale of an existing home: if their buyer pulls out but they still want to go ahead – perhaps by using a bridging loan – they will be liable for the stamp duty surcharge because … Read the rest

Success guaranteed for some first-time buyers

Could a 'guarantor mortgage' help you get your first home? This arrangement means a third party guarantees the borrower's repayments, providing additional security to the lender who may advance a larger amount.

Mortgages and the Self-Employed

Borrowing to finance a property purchase has become more difficult recently, and if you are self-employed you may find it harder still. A few things to bear in mind before you approach lenders.

Equity release Dos and don’ts

Are you one of the many who are ‘house rich’ but cash poor? As more battle to get by, the popularity of equity release is sure to continue to grow, but there are many implications that need to be considered.

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