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Mortgage Express hits back at critics on release options

Mortgage Express has cast doubts on criticism that equity-release customers are not being given sufficient information about their options.

In a customer study, it found that many consider downsizing and consult their families before taking out a loan.

Research from Which? in January slammed the market for failing to advise customers of such alternatives.

MEX found that 58 per cent of customers did not want to leave their current home while 25 per cent felt their current home was already too small to downsize from. Eighty-six per cent said they had made the right decision in taking out an equity-release loan.

Almost two-thirds looked at other options for enhancing their income before deciding on equity release, with 91 per cent saying they involved their families in the decision-making process.

Head of lifetime Gus Park says: “Contrary to the beliefs of some, pensioners taking out equity-release mortgages are exploring all the options and taking them extremely ser- iously. Of course, quality of advice is imperative and, reassuringly, most customers were happy with the advice they received, which is promising news for advisers.”


CII warning of confusion over IFP’s degree link-up

The Chartered Insurance Institute is warning of the potential for confusion caused by the Institute of Financial Planning’s claims that its joint venture with Manchester Metropolitan University is equivalent to the CII’s diploma in financial planning. The IFP’s certified financial planner qualification has been incorporated in MMU’s financial services degree. But CII deputy director general […]

TMP buy sees Craven and Bates reunited

The Money Portal is buying financial services consultancy Clearwell in a deal that will see Richard Craven reunited with Graham Bates. Clearwell, set up 18 months ago by Bates and former Egg Invest managing director Andrew Firth, provides online consumer-facing technology that will be used to bolster TMP subsidiaries Sage and Millfield’s web propositions. TMP […]

Liv Vic announces review of banking operations

Liverpool Victoria has announced a strategic review of its banking operations with Fenchurch Advisory Partners appointed to assist in the review.The review will consider a full range of options for LVBS including performance enhancement measures, strategic partnerships, joint ventures and an outright sale of the business.Liv Vic group chief executive Mike Rogers says: “We remain […]

Lending giants up rates after base rate rise

Nationwide and Halifax have become the first major lenders to confirm they will increase their rates following yesterday’s 0.25 per cent base rate rise to five per cent.Nationwide’s base mortgage rates will be increased by 0.25 per cent from 6.24 per cent to 6.49 per from December 1. Changes to tracker mortgages will move in […]

Who cares?

By Tracey Dickson, marketing consultant There are almost 7 million carers in the UK – that’s around 10 per cent of the population who provide unpaid care for a disabled, seriously ill or older loved one.1 But according to a report from the charity Carers UK, 20 per cent of people providing 50 hours or more of care […]


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