Those considering equity release should 'move fast'
Those homeowners considering triggering equity release on their property may be wise to move fast, considering the house price drops foreseen by experts.Alex Edmans, a personal finance adviser from Saga, has reminded Brits that with house prices falling, the amount of money available to be borrowed through equity release will go down.Mr Edmans went on to warn that customers must ensure that their deal has a 'no negative equity guarantee' so as to avoid ending up in debt."With falling property prices customers will see a reduction in the amount of equity they can raise, therefore if you are considering arranging equity release in the near future, then it might be advisable to do so sooner rather than later," he said.According to the Land Registry's most recent house price index, house prices in England and Wales experienced a 0.2 per cent drop over April.
Share this..
Related stories
Unemployment falls in the US
The unemployment rate in the US fell to 9.7% last month which was lower than the 10% expectations of many analysts. In this tipsy topsy world of very different economic performances it now appears as though the US is starting to form some kind of solid base from which the economy can start to build. However, we are not out of the woods as yet! More and more it looks as though investors and anal...
Read MoreVince Cable talks about the UK car industry
Vince Cable, the business secretary, has issued a very interesting and potentially controversial statement on the state of the UK car industry. While he recognises that the industry as a whole may need assistance in the future he has ruled out any massive subsidies to attract international car manufacturers to the UK. This would appear to be at loggerheads with David Cameron and the previous Labou...
Read MoreProperty 'still a good investment'
Property is still a good investment, despite a market slowdown, a spokesperson for the property investment company Inside Track has said.In October, the International Monetary Fund warned that the UK was in danger of experiencing a housing market crash similar to that seen in the US, although the latest Nationwide house price index indicates that October saw a 1.1 per cent monthly rise in house pr...
Read MoreBuilding Society Association urges government to change regulations
In light of the £50 million deal between US private equity company JC Flowers and the Kent Reliance Building Society, the Building Society Association has today called upon the government to change the regulations which are stifling fundraising for building societies. Due to the mutual set-up of building societies they are unable to issue new shares, as UK banks and other financial companies can,...
Read MoreWhy can't UK politicians work together?
It is becoming more and more apparent that the Conservative/Liberal Democrat coalition government is very much at odds with the Labour Party on a number of issues, with public-sector spending cuts at the head of the queue. When you also take into account the ongoing discussions regarding strike activity in the short to medium term there is even more daylight between the various political parties....
Read More