The latest data relating to the fast expanding lifetime mortgage market points to wealthier home owners \u2018cottoning on\u2019 to the opportunities provided by record property values and low interest rates.<\/p>\n
In recent years, lifetime mortgage rates have halved, and many products offer sub-3% rates with flexible repayment options, while at the same time, the value of many homes in our part of South West London have risen by over 10%.<\/p>\n
One report claims that a \u201cmiddle class stampede\u201d is growing following the 31% rise in lifetime mortgage loans; \u201cWealthier homeowners have cottoned on to how rates have come down and now see lifetime mortgages as an affordable way to improve their standard of living in retirement. Gone are the days when they were considered a product of last resort. The pandemic has also played its part in driving up the level of borrowing. Repeated lockdowns have not only spurred huge housing demand but there has also been a home improvement frenzy.\u201d<\/p>\n
Unlike most lifetime mortgage advisers, The Financial Planning Group are Chartered Independent Financial Advisors.\u00a0With offices in the heart of Teddington, we help our clients take full advantage of the property equity options available to them \u2013 offering bespoke and independent advice for those wishing to learn more about the products currently on the market \u2013 before deciding on the one that is a perfect fit for them.<\/p>\n
Taking independent financial advice is key to ensuring which product on the market is the perfect fit for your exact circumstances, and with over 25 years experience serving the people of Teddington, Twickenham and Richmond, we are here to help.<\/p>\n
Clearly, you should think carefully before securing a loan against your home. This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.<\/p>\n
If you\u2019d like to discuss what mortgage options are available to you, please do not hesitate to contact Steve Padgham at The Financial Planning Group via e-mail at Steve.Padgham@fpgonline.co.uk or by calling 020 8614 4782.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
The latest data relating to the fast expanding lifetime mortgage market points to wealthier home owners \u2018cottoning on\u2019 to the opportunities provided by record property values and low interest rates. In recent years, lifetime mortgage rates have halved, and many products offer sub-3% rates with flexible repayment options, while at the same time, the value […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2813","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\n