What Mortgage
No Result
View All Result
what MORTGAGE Awards
  • Login
  • Register
Add Listing
  • Home
  • News
  • Buy-to-Let
  • Homeowner’s Hub
  • Equity Release
  • wM Awards
  • First-Time Buyer
  • Home
  • News
  • Buy-to-Let
  • Homeowner’s Hub
  • Equity Release
  • wM Awards
  • First-Time Buyer
No Result
View All Result
What Mortgage
No Result
View All Result
Home News Equity release

Would-be downsizers are switching to equity release

by Stephen Little
June 15, 2017
2014: Record year for equity release lending
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

equity release woman and houseNew research from Bower Retirement shows that nearly one in five would-be downsizers change their minds and decide to release property wealth through equity release.

Its Adviser Tracker Research shows advisers estimate 17% of their clients had tried downsizing before switching to lifetime mortgages to raise cash.

The main reasons for not going ahead including the cost of moving, with 55% of Bower advisers saying customers change their minds because of the expense.

Emotional reasons are also a major issue for not going ahead with downsizing with around half of Bowers’ advisers saying clients did not want to move away from family and friends.

Andrea Rozario, chief corporate officer at Bower Retirement, said: “Downsizing is logical and sensible and can work for some over-55s homeowners but only if they can find the right house at the right price.

Related Articles

  • Confused over life insurance jargon – what do the terms mean?
    April 24, 2025
  • Leasehold reforms: How will they impact your home purchase?
    April 16, 2025
  • What factors qualify someone as a first-time buyer?
    April 15, 2025
  • Divorce: Can I release equity to buy out my wife?  
    April 14, 2025

“But there are financial issues to deal with when moving house with stamp duty alone costing 5% on house prices above £250,000 which can make the decision to move uneconomic. Buying a £300,000 home would cost around £5,000 in stamp duty.

“It is also not just a financial calculation as there are emotions involved when moving home with the risk of losing touch with family and friends making downsizing seem a bad idea for many.”

[box style=”4″]

What Mortgage has teamed up with London & Country to offer you expert advice on the right mortgage deal.

Whether you’re buying a new home, remortgaging to a new deal or buying an investment property, L&C can help – and you’ll pay no fee for their advice. To find out more, click here.

[/box]

 

Tags: Bower Retirement
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Our recommeded tools

Mortgage Calculators

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Mortgage Best Buys

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Mortgage Match

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Mortgage Search

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related Articles

  • Confused over life insurance jargon – what do the terms mean?
    April 24, 2025
  • Leasehold reforms: How will they impact your home purchase?
    April 16, 2025
  • What factors qualify someone as a first-time buyer?
    April 15, 2025
  • Divorce: Can I release equity to buy out my wife?  
    April 14, 2025

Newsletter

Register for our free weekly newsletter for all the latest mortgage news, tips, and features.

Sign Up

Polls

Will the increase in stamp duty on 1 April 2025 make you less likely to buy a property?

View Results

Loading ... Loading ...
  • Polls Archive
  • Advertise
  • Media Information 2018
  • Contact Us
  • About us
  • Terms & Conditions
  • Essential Links
  • Privacy

what Mortgage, Metropolis International Group Ltd © 2025
Registered in England no. 02916515

[MBM_Form id="284841"]

Buying a property, moving home or re-mortgaging? Sign up to our newsletter and marketing emails, and we'll send all the latest mortgage news, top tips, expert advice and what MORTGAGE Awards updates straight to your inbox.

I am a...*
First Name*
Email*
First Name*
Last Name*
Email*
Company
Job Title
I would like to receive...
[MBM_Form id="284841"]

Buying a property, moving home or re-mortgaging? Sign up to our newsletter and marketing emails, and we'll send all the latest mortgage news, top tips, expert advice and what MORTGAGE Awards updates straight to your inbox.

I am a...*
First Name*
Email*
First Name*
Last Name*
Email*
Company
Job Title
I would like to receive...
No Result
View All Result
  • Home
  • News
  • Buy-to-Let
  • Homeowner’s Hub
  • Equity Release
  • wM Awards
  • First-Time Buyer

what Mortgage, Metropolis International Group Ltd © 2025
Registered in England no. 02916515