Tailor Made Mortgages

Recently, I have had a few discussions with the managing director of Responsible Equity Release about the equity releases and the chats have been quite refreshing.  Fair play to the guy, he’s got some good ideas when it comes to the market – regulation of the schemes, how to market them, who should and shouldn’t be taking them out. We also discussed about the annuity rates and few other things.

He stated that there should be a government funded counseling team, much like that of the USA. Experts to provide unbiased equity release advice as a pre-requisite to being allowed to release equity. The HUD in America make one final call to those looking to release equity, either through a roll-up or lifetime mortgage. The needs are discussed, if suitable the provider, someone such as Wells Fargo is then allowed to proceed with the loan.