Jon King looks at how equity release can help those approaching retirement with interest only mortgages.
They are the panic issue of the day and the focus for regulators, trade bodies, lenders and, ultimately, borrowers. While there is certainly a lot of panic it is also true that interest-only mortgages are a genuine and growing issue for people approaching retirement and there is a growing and genuine need for innovative solutions from the equity release market. Of course the equity release market already lends into retirement and has built a strong reputation for customer service, flexibility and safe lending. Tackling the interest-only issue is a logical expansion. The Financial S...
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