With the major banks retreating to their essential services, some markets for financial products have seen major players leave the space. No better example is that of equity release, which has seen both Halifax and Prudential leave this market to the other, smaller players. What does this mean for consumers?

Those with products at these banks will find that their existing arrangements are honoured and do not change, which is good news. For those who are looking for these products, there might be less major players in the market, but there are several alternatives that are worth looking into.

One of these is Stonehaven equity release which offers terms that are quite similar to the ones that Halifax used to offer. Consumers looking for equity release products might find that small financial institutions like Stonehaven are providing the level of service that still makes this financial package attractive. (more...)

For people in their retirement, the recent financial crisis may have made their financial standing much harder. Those who have retired may find that their pensions or investments are not providing the returns they had assumed when they left the workforce. For some, financial restructuring might be required and this is what people may think about for their parents.

These people should look into how the right equity release schemes can affect their financial outlooks. With people struggling on the day to day, these financial products make it easy for customers to recover some of the value invested in their property, and put it toward ensuring a more stable financial future.

Equity release is a broad term which refers to many types of products. However, most people think of it as a lifetime mortgage. This specific product allows consumers over a certain age to once again mortgage their homes on agreeable terms. (more...)

Recently, major banks have started to withdraw their equity release programmes for lifetime mortgages. Though this has not affected existing customers, people over the age of 65 who are looking to release equity from their property will no longer be able to turn to Halifax or Prudential for this kind of product.

Fortunately, there are other established companies on the market which offer similar products to consumers. The Stonehaven Interest Only Lifetime Mortgage is one such product, which can provide to eligible consumers the equity release options they are looking for.

Equity release is an excellent way for those who have already paid off the mortgage on their property to recover some of the value of that asset to put to use somewhere else. It acts like a mortgage, but rather than paying off the debt, the customer continues to pay the interest until the asset is passed onward. (more...)

Many people who have struggled with the financial crisis may have seen an impact on their credit rating. This might have led them to believe that their options are narrowing on what types of products and services are available to them. However, while this might be true, there could be more options available than they had assumed, and it is worth some careful investigation before writing off some finance options.

For people over 65 and in retirement, there are still many options for equity release available. These consumers should be careful of what products they select and look for advice from the Safe Home Protection Plan (SHIP) on their options.

However, equity release might be the kind of product which can help them restructure their debt to a more manageable amount. (more...)

The current financial crisis has left many households struggling. This is true of retired people as well, whose pensions have been affected by the markets and whose investments are not as strong as they were expected to be when they first retired.

For many of these people, the opportunity to restructure their finances in light of the current crisis would be a welcomed opportunity. These people might find that equity release products can provide that additional assistance to help them through these tough years.

There are many types of equity release, but what is usually thought of is a lifetime mortgage. This kind of financial package is attractive to consumers as it is often an interest only mortgage that is provided to retirees who have already paid off their property. (more...)

The financial crisis has left many major banks concentrating on their core businesses and retreating from other markets of financial products. An example of this is the equity release market, which has seen both Prudential and Halifax both depart in the past year. It is important that customers understand what this means for their services and potential for recieving the products that were once offered by these banks.

The good news for the existing customers of these institutions is that they will not be affected by this change. Both Halifax and Prudential will continue to honour their existing customers equity release programmes.

For new customers, there are alternatives to these institutions. Other companies have been working in this market for several years as well and have every intention of meeting the demand for these services. One such company is age partnership equity release. (more...)

We have all learned the importance of sound financial release in the past three years. One of the outcomes of the global financial crisis has been the realisation that some products have not been sold correctly, and that impartial advice is essential for making important financial decisions.

This is particularly true for retirees, many of whom are finding that the crisis has had a deep and lasting impact on the value of their pensions. For many, the prospect of a long, enjoyable and financially sounds retirement has been challenged by the economics of the crisis.

Many retirees will find that equity release can help them recover some of the value stored in their largest property investment - their home. Ensuring they are making a sound financial decision when perusing equity release is important. In this case many turn to the Safe Home Protection Plan (SHIP). These people will find that SHIP Equity Release advice is useful at getting an idea of what products are available from reputable providers. (more...)

Many people who have gone into retirement may have found that their nest egg isn't quite what it was when they first retired. The global financial markets have taken their toll on many investments, and pension funds are definitely one of them. People looking to restructure their finances in light of the crisis may find that some products provide the services they require, and don't hurt as much as they fear.

Equity release is one such product, which can provide a helpful recovery of value from their property investment. People who have paid off their mortgage have a lot of money invested in their homes, some of that can be released to ease the burden of today.

There are many considerations and equity release minimum age is a crucial one. Different financial products from the various providers have requirements that must be met if the product is to be available. Minimum age is one of them, as this kind of equity release is tailored to retirees. (more...)

As a pensioner, you might want to apply for an equity release plan but you might be wondering how safe is equity release . The fact is that there is less concern with safety these days when it comes to equity release schemes. There are two major institutions that you can rely on to ensure your safety and to make sure you are fully protected if you decide to enter into an equity release plan.

There are many different types of equity release schemes but the most common types are the lifetime mortgages and the home reversion schemes. Pensioners who apply for either scheme will be protected by the FSA or the Financial Services Authority. The FSA is responsible for providing rules that clearly defines how pensioners should be treated and for providing complaints and compensation procedures.

The second body is SHIP & stands for Safe Home Income Plan. This is an institution that provides a code of conduct that all providers of equity release schemes must follow. If you are looking for reliable and trustworthy equity release providers, you can contact SHIP for they will only recommend providers that follow their code of conduct. (more...)