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GE Life cuts lifetime mortgage rate

GE Life has lowered its lifetime mortgage interest rate from 6.09% to 5.95%.

It is also set to reinstate its cash back facility, whereby all customers, irrespective of the size of the loan, or who their financial adviser is, will receive a 250 tax-free cashback on completion of their equity release lifetime mortgage.

Simon Little, marketing and product manager for GE Life, says: “This is an exciting yet challenging time for advisers, providers and everyone involved in equity release.

“Our ‘State of Retirement Report’ found that nearly one in four (39%) of those five years from their retirement would consider releasing equity from their home, showing the potentially huge market that is out there.

“However we must be careful to treat customers fairly and to offer them the best service and products possible.

“At GE Life we believe in very high standards of practice and sympathise with the findings of the FSAs recent mystery shopper report.’

“We feel we have the capacity to lower our rates once again and provide even better value for equity release customers especially for those consumers on the verge of considering equity release, so they can see that such products represent value for money.”


Warning over letting agents

Landlords should beware third-rate letting agents, warns risk consultant Leaseguard. Mairi Scott, managing director of Leaseguard, says too many landlords get caught out by thinking they can just appoint a letting agent, hand over the keys and sit back and wait for the money to roll in.

Spring Move deal on HIPs

Home sellers can benefit from a ‘no sale, no fee’ deal on Home Information Packs from Spring Move.

Housing market looking good, says RICS

The Royal Institute of Chartered Surveyors says the June 2006 price index from the Department of Communities and Local Government shows housing market conditions are good. Figures released by the DCLG show house prices rose 5.2% from year ago levels in June 2006, compared to 5.6% in April and a recent low of 1.6% last […]

Champion the small-scale developer

Traditional development finance must price in project and liquidity risk, but if your project is completed and you have begun selling units you could be eligible for cheaper funding, writes Matthew Tooth of Lendinvest. A product which prices purely for liquidity risk is one way to help developers lower their costs. This type of product allows […]


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