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Why an Equity Release Calculator is Important

Equity release schemes have been increasing in popularity over the last few years. With the ageing population in the UK, there are increasing numbers of retired people who are struggling to maintain their lifestyle with the increasing costs of living. While there are many finance options available for those who are employed, once you have retired, you may have difficulty obtaining conventional finance. However, equity release schemes have been specifically designed to cater for those aged fifty-five and older. Although some people may be hesitant to speak directly to a broker for fear of being pressured, there are a number of online calculators which can provide some helpful and important information. It is worth taking the time to research your options and ensure that your online tool includes an enhanced lifetime mortgage calculator.

 

What Do the Calculators Do? Read More...

The Concept of Equity Release Schemes

It is essential to know the whole concept of equity release schemes before you venture in to the unknown. One of the main issues is to ensure that the financial providers you plan to use are fully regulated and the products they provide are fully compliant with the equity release market standards. These equity release plans permit you to release equity or tax-free money from your home without having the hassles of any monthly repayments. Many equity schemes are available to cater to your specific needs. But, each one of them comes with pros and cons. You should be fully aware of these before you consider the best equity release scheme to go for.

People over 55 years of age have financial issues which can be taken care of by an equity release adviser who knows all about lifetime mortgage schemes. Financial crisis and the need for money to fund the retirement years are making people believe more so in lifetime mortgages. This scheme allows you to release tax free cash from your home to spend or fulfil your wishes, without having any worries to repay them. The accumulated interest on per month basis on the life time mortgage loan is repaid in one large amount when the borrower dies, enters long term care or by selling the property earlier.

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The Best Equity Release Deals are Just One Click Away

A lifetime mortgage is a loan from an equity release providers, where you do not have to sell any portion of your house in return for a lump sum of money. The lifetime mortgage operates like a conventional mortgage with one major difference. You lend money against your property, interest is charged every month however you do not need to pay any of the interest back on your policy. Instead once your property is sold due to death or having to move into long term care, the loan is paid and the interest with the money generated from the sale of your house. Searching for the best equity release deals is helpful to ensuring you get the right product for your situation.

Interest Rates Assessment

The interest rates that are charged and the deals available will vary from provider to provider. This means that you will have to shop around for the best equity release deals that are around. However, you should never just go with the provider that is offering the best rates. You will need to look at the plan options and flexibility as well. This is because you will need to make sure that the equity release deal is suited to your needs and to check that there are no hidden costs. Read More...

Can a Pensioner Still Get a Retirement Mortgage?

Pensioners today are facing serious challenges when it comes to just remaining afloat in the current economy, while trying to get a retirement mortgage becomes even harder. Actually, thousands of pensioners on interest only mortgages risk losing their homes as they have no means to pay at the end of the term. With options reducing rapidly, financial experts warn that the UK may soon face another mortgage crisis. But where did it all start, let’s find out.

History of Trouble

About 5 years ago, mortgage lenders were willing to offer loans to retirees. However, new rules meant to avert another financial crisis have seen mortgages for pensioners virtually disappear. Most of these retirees are well educated and well-informed people with clean credit history, but their circumstances dictate that they have to borrow for another couple of years before they can call it done. Read More...

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I was at my wits end and very distraught trying to save my home from a foreclosure while on the home stretch to retirement. It was a very difficult moment for me, but thanks to the timely advice from PMCG Consultants. I not only saved my home, but also paid off the mortage! I will be indebted to you for a very long time.
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My husband lost his job and we started running late in repaying our mortgage. I started repaying the loan on my own, but I just couldn't keep up with the interest and penalties we had accrued. PCMG intervened and we were able to clear the loan and we're now just about to clear the mortage. Thanks a lot for your assistance.
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