IPPR. Lifetime Mortgages Extending Equity Release Downwards 9th January 2006 Keith Haggart. AGENDA. The potential market for lifetime mortgages Lifetime mortgages - market constraints Access to advice Transactional costs Minimum's Property and longevity risks Funding
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Extending Equity Release Downwards
9th January 2006
Lifetime Mortgage market expected to grow to £6.9 billion by 2008 , according to Datamonitor and Prudential.
According to research conducted by Prudential in conjunction with Datamonitor, the Lifetime Mortgage market could grow from the £1bn advance per annum today to £6.9bn in 2008. This growth is going to be driven by a number of factors;
The Pensions Commission concludes that the continuing demographic changes causing the shortfall in pensions and savings could be mitigated by the following options:
Which is fine if you’re still young.
However, for people aged 50+ today, these options have come too late.
Equity Release is the only viable solution to realising retirement dreams.
The high initial fixed costs of a lifetime mortgage purchase, places upward pressures on the minimum initial premium
Sales completed Jan/March 2005 - Source, Land Registry