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LRS relaunches equity release home improvement scheme

The London Rebuilding Society has relaunched its home improvement scheme in partnership with Legal & General Home Finance and Age Partnership.

The scheme is aimed at cash-poor over-55s who wish to remain in their homes and to do so require funds to bring their property up to Decent Homes Standard.

According to the society, there are 100,000 households within the M25 who fall under this situation.

The proposition consists of an equity release product that enables an individual to borrow as much as they want with no upfront fees or costs. It features no monthly repayments, a six-year defects warranty on the house, and the money is only repayable upon death, sale, or if the borrower goes into care.

According to LRS, a surveyor will assess a property for repair or refurbishment and outline a cost plan, which the homeowner is then free to approve.

LRS will also review a client’s eligibility for various grants and help them claim these. A project manager, who is charged with organising the works will then be appointed.

The equity release product interest rate is fixed for the lifetime of the term, and currently ranges from 3.5 per cent to 5.5 per cent.

The idea was first piloted across London and is now being expanded to the South of England. LRS says that it plans to offer the scheme nationwide.


Mansfield BS makes changes to retirement mortgage options

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Bank of Ireland hires Ian McLaughlin as chief exec

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Choice of BTL products biggest in over a decade: Moneyfacts

The number of buy-to-let mortgage products available on the market is the highest since the financial crisis in October 2007, according to Moneyfacts. The current number of two-year BTL products is 2,396, this is up 21 per cent year-on-year, and the number has increased by 143 products on a monthly basis. In addition, the present […]

Identifying best-in-class UK stocks — Mark Martin, Neptune UK Opportunities Fund

FE Alpha Manager Mark Martin assumed management of the multi-cap UK Opportunities Fund at the beginning of February. As manager of the highly regarded UK Mid Cap Fund, Martin has begun restructuring the new portfolio to focus on our very best UK stock ideas from across the FTSE All-Share Index. In this video, update Martin addresses:

– Themes informing the UK Opportunities Fund
– The multi-cap structure of the fund
– UK equity valuations


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