View more on these topics

IFA firm targets home equity

An IFA firm has been set up specialising in the home equity-release market.

Preston-based Key Retirement Solutions, formerly Countrywide Retirement Solutions, has taken IFA status to give specialist advice to the retired marketplace.

The company believes the equity-release market is set for considerable growth and says homeowners are becoming increasingly equity-rich but cash-poor.

It says the average weekly disposable income for a retired household in 1994 was £170 compared with £224 last year.

Because of this small rise in income, Key says it is not surprising that 61 per cent of people over retirement age are classified as living in poverty or on low incomes.

Its research suggests that in the four years to 2000 from 1996, retired people have made an estimated £183bn as a result of increasing house prices and many could release this tied-up capital to enhance their income.

Key aims to become a leading niche player in the market. It is a member of the Financial Options network.

Managing director Colin Taylor says: “We believe the home equity market is worth a staggering £550bn but many retired people are some of the poorest in the country.

“The answer for many is equity release and we believe this message is getting through. With our network of IFAs offering impartial advice, we are confident that we can make a real impact in this market.”


Ipswich BS makes tracks

Ipswich Building Society has introduced a tracker mortgage that has redemption penalties in the first three years.The mortgage remains at 0.75 per cent above the Bank of England base rate for the life of the loan, giving it a payable rate of 6.25 per cent. It is available for loans of up to 95 per […]

Nationwide claims remortgage boom

Nationwide says remortgaging business has rocketed tenfold through its branch network since it sparked the mortgage war with rival Halifax in February.The UK&#39s biggest building society says branch managers report they are processing more mortgage business than ever before.Although IFAs continue to record plummeting new mortgage sales with the society, claiming cheaper loans are available […]

Going back to basics on state pension provision

Successive Governments have paid lip service to the notion of “simplicity” in pensions while gradually making things more complicated.The Liberal Democrats propose a genuine simplification of pensions, with both the state and the private sector having an important and clearly defined role to play.Our blueprint for pensions starts with the basic state pension as a […]

Four-step approach to emulate wizards of Oz

How can you ride the transition from anup-front commission basis to a scraping-the-barrel scenario?With the potential for afurther eight million customers as a result of the Government&#39s announcement on concurrence, more and more IFAs can visualise the need to advise the generic public on pensions as opposed to concentrating efforts on targeted clients.It is hard […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm