Pensions

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Hodge overhauls RIO offering

Hodge has cut interest rates across all its retirement interest-only mortgages, lowered the age limit and introduced fee-free options. The retirement specialist has introduced a RIO product with an interest rate of 3.1 per cent, which it claims is the lowest on the market. As well as cutting rates across its range, Hodge has introduced […]

Leeds Building Society offers ten-year fixes in RIO range

Leeds Building Society has added a ten year retirement interest-only deal to its mortgage range. The society was the first national high street lender to enter the market following the FCA’s reclassification of RIOs as standard mortgages. It previously offered five-year fixed terms but has now added two ten-year options to its offering, at 3.99 […]

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Demand up for later-life planning: Prudential

A large majority, 86 per cent, of advisers saw an increased demand for advice on later-life planning over the last year, according to research from Prudential. The insurer says advisers are seeing a surge in enquiries about later life financial planning and are reshaping their business to adapt. Prudential’s UK-wide survey of advisers, shows more […]

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Govt backs signposting to equity release within financial guidance

The government has shown support for the elderly being signposted to equity release as one of their finance options. Responding to the second report of 2017-19 of the Housing, Communities and Local Government Select Committee inquiry into housing for older people, the government said the new single financial guidance body should include information on equity […]

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Confusion reigns over equity release

Research from over-50s specialist SunLife shows that when it comes to equity release, only 11 per cent of homeowners aged 55 or over fully understand how it works. Delving further into the responses from the 1,007 people questioned (of whom 30 per cent would considering taking out an equity release loan), 55 per cent didn’t […]