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Lifetime mortgages on the increase

Over half of advisers dealing in lifetime mortgages have seen an increase in business since August 2007, according to Mortgage Express research.

Sixty two per cent of advisers have seen an increase in business over this period.

Of those polled, 59 per cent are currently involved in the lifetime mortgage sector, while 47 per cent of advisers who don’t deal in lifetime products are considering expanding into the sector as a direct consequence of the credit crunch.

Mortgage Express head of lifetime mortgages Kirsty Jackson says: “The increase in lifetime enquiries that intermediaries have experienced over the past year is likely to only accelerate over the coming months therefore, providing intermediaries with an opportunity to diversify their proposition and access an additional income stream in these challenging market conditions.

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I am aged 40 and have accrued 17 years in a final-salary pension scheme. I am still in the same employment and my salary is now £150,000. I am currently making AVC contributions of £600 a month. How do I assess if this is the most sensible form of retirement saving, bearing in mind the new lifetime allowance?

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