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An FSA report shows most sale & rent back transactions were unsuitable & therefore should never have been sold.
Additionally a study by consumer group which in Feb 2011 found advice to rent back customers to be ‘woefully inadequate’.
The FSA will focus on firms conducting past business to ensure any affected customers are treated fairly.
Any comments below should not influence anybody to make a decision on equity release being right for them or not.
Equity Release advances totalled £215.9m in quarter 4 2011, the highest level since 2009, according to safe home income plans, SHIP. This is a 15% increase on £188.5m advanced in quarter 4 2010. The number of equity release plans sold rose to 4,399 the highest level since the beginning of 2010. This represents an increase of 6% on the previous quarter with 4,148 plans sold.
Do you think equity release plans will grow in popularity in 2012?
UK Unemployment rose by 118,000 in the three months to november 2011 to stand at 2.68 million, according to the office of national statistics, and rose by 0.3 per cent on the quarter.
The unemployment rate has not been as high since 1995 and actual number of people unemployed since 1994.
Could this mean an increase in the popularity of equity release schemes? As elderley parents consider equity release to raise funds to help out sons, daughters and grandchildren, who are struggling financially.
What’s your opinion?
The UK consumer prices index has fallen to 4.2 per centin december, according to the office for national statistics.The consumer prices index is down 0.6 per cent from 4.8per cent in november.
The last time we saw a larger fall in inflation was between november and december 2008. It’s felt downward pressure on clothing, fuel, gas have helped the downward trend.
Inflation has fallen markedly since september 2011 when it reached a 20 year high at 5.8 per cent.
What are you views? Do you think inflation will continue to fall throughout 2012 and to what level?
Welcome to the blog page of Retirement Finance UK. We are Independent Equity Release Specialists. We specialise in helping people over the age of 55 to realise the equity tied up in their properties in order to have a better standard of living in retirement through either lifetime mortgage schemes or home reversion.
We cover the whole of the uk and offer a face to face advisory service. There is no obligation, any fee we charge is taken only on completion of your equity release scheme.
During the coming months we shall be updating our blog to keep you informed of changes to the equity release sector and general finance news around the uk.
Please feel free to browse our website in particular our testimonials with comments from our existing clients.
Yours Sincerely
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