The industry definition of an equity release scheme is an over 55’s mortgage, albeit with no monthly repayments & finally settled on death or moving into long term care.
It is now becoming more apparent that whereas equity release was once considered a lifetime mortgage, people ‘temporarily’ have the opportunity to take advantage of one of providers’ shortcomings in its plan features.
Continue Reading…
Related posts
This November, under the budget changes made in April, sees the pension credit limit being raised from £6,000 to £10,000. The effects of this would be felt by over 500,000 pensioners on modest incomes & should result in additional income of upto £8pw.
The current capital disregard limit of £6,000 has been present for the past decade. Previously, any savings above this level of savings reduced the amount of benefits a person would get from pension credit.
Continue Reading…
Related posts