Equity release could solve interest-only headache - Nigel Waterson

Nigel Waterson said: "We know each year over the next ten years or so there will be a huge number of people with interest-only mortgages coming to term and only a small proportion of them have any idea how to pay it off. "There is a big headache for people and possibly the only solution is equity release." Government proposals to make it easier for local authorities to pay for residents' long-term care and recover the costs through the sale of their home after death, would lead to a surge in demand for independent advice, he added. "Once this scheme is up and running, people will n...