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Equity Release Money Box Live - Wed 22/05/2013 3Pm Radio 4

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Couldn't believe the subject for this weeks moneybox! Be sure to listen / call in...

Programme link here

Equity Release

Duration:

30 minutes

First broadcast:

Wednesday 22 May 2013

Thinking about Equity Release to help with retirement? To find out how it works, what it costs and to ask about the pros and cons, call 03700 100 444 between 1pm and 3.30pm on Wednesday or e-mail moneybox@bbc.co.uk

Debt charity StepChange say that a growing number of older people are struggling financially. The number of people aged 60 or over contacting StepChange to ask for help has risen by 36% since 2009.

Rising living costs and extremely low savings rates may be putting pressure on your monthly budget. Releasing money from the value of your home could help but is Equity Release really suitable?

Are there other ways to raise money and would you be better off moving to a smaller property?

Will Equity Release affect your existing benefits or tax position?

How much will you have to pay in legal and administrative fees?

What interest rate is applied?

Or perhaps you've been attracted by a cashback advert?

Who can give advice and what qualifications should they have?

Whatever your question, call 03700 100 444 between 1pm and 3.30pm on Wednesday or email moneybox@bbc.co.uk.

To answer your questions presenter Vincent Duggleby will be joined by:

Nigel Waterson, Chairman, Equity Release Council

Vanessa Owen, Head of Equity Release, LV

Tom Moloney, Financial Advice Manager, StepChange Debt Charity

Phone lines are open between 1pm and 3.30pm. Standard geographic charges apply. Calls from mobiles may be higher.

.... god this will be interesting, although going by the VI of the "experts" - with their fingers in the Equity Release pie what can we expect?

*gets popcorn*

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Couldn't believe the subject for this weeks moneybox! Be sure to listen / call in...

Programme link here

.... god this will be interesting, although going by the VI of the "experts" - with their fingers in the Equity Release pie what can we expect?

*gets popcorn*

..vultures feeding on the weak and vulnerable...mother nature is cruel..... :rolleyes:

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Anyone catch this? Going to listen to it when it's available on iPlayer (not yet as I type)...

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Heard some of it.

Pretty negative on the subject. Lots of people with debt mounting up, no chance of borrowing again, and little expectation of inheritance.

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Heard some of it.

Pretty negative on the subject. Lots of people with debt mounting up, no chance of borrowing again, and little expectation of inheritance.

:D

poor them!

... surprised the presenter didn't say something like don't worry, carnage is here at the BoE soon so printy printy!

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The prog followed a rather black drama about the Irish property bubble & crash

relisten

http://www.bbc.co.uk/programmes/b01sjhdq

Outline Permission

AVAILABILITY:7 DAYS LEFT TO LISTEN

Duration: 45 minutes

First broadcast: Wednesday 22 May 2013

Dublin, 2005, the height of the property boom. Alice and Frank long to move from their city terrace to a bungalow by the sea but with house prices constantly escalating how are they ever going to compete in the bidding wars? The solution comes from their neighbour, a property developer, who proposes a lucrative business opportunity. Is this proposition just too good an opportunity to turn down? With Dublin's property market soaring to dizzy heights, what could they possibly lose?

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I only caught a bit of it and don't fancy listening again. One case - borrowed when house was 'worth' £300K, now valued at £150K. Can't recall where that was. Did anyone mention miss-selling?

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..vultures feeding on the weak and vulnerable...mother nature is cruel..... :rolleyes:

tell me about it, my fish ganged up on a poorly guppy the other week.

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Equity Release is pretty simple, you borrow money and never have to pay it back.

You borrow the money you never had.......then complain when having made use of it it there ends up being nothing left of it.....no loss there then. ;)

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Look up compounding interest in a book about investing.

Equity release is that - except with a '-' sign in front of the interest.

Don't know why anyone would equity release - unless they were the very last in line and knew they were going to live for ever.

Don't know any bank would want to provide equity release - unless you knew the person was going to die v quickly.

Want to get money from your house - then sell it and buy a smaller one.

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  • 238 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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