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Equity Released Up By A Third Year On Year

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"The rise in people taking out drawdown plans in the last year alone has been astonishing but at the same time anticipated. We attribute this to the greater number of lenders who now offer this facility, the increased awareness among advisers that more lenders are offering drawdown and increased consumer awareness. Drawdown allows clients to ease their way into releasing the money locked in their home, with the option to come back for more at a later date. The result can be considerable cost savings when compared to a traditional lifetime mortgage plan."

http://firstrung.co.uk/articles.asp?pageid...articlekey=6738

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Guest Charlie The Tramp
One of the key trends identified in the report is the change in how people access the equity locked in their home. The demand for a drawdown facility - whereby a consumer decides a maximum amount of equity to release and then 'draws down' the cash in stages - rather than the traditional lump-sum lifetime mortgage, has risen by 225 per cent in the last year alone, and three providers have entered the drawdown market which now accounts for nearly half (44 per cent) of all plans taken out.

Yes, that is my emergency plan if ever needed, but at present looks very unlikely, unless I exchange my 1991 Volvo for an upmarket Roller. :D

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Yes, that is my emergency plan if ever needed, but at present looks very unlikely, unless I exchange my 1991 Volvo for an upmarket Roller. :D

have been seeing volume in Boxsters for 8-9k lately Charlie, and X5s for the same. 20 year old rollers have been cheap for ages, its the parts/service that kills them as useable, shame.

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Guest grumpy-old-man
Yes, that is my emergency plan if ever needed, but at present looks very unlikely, unless I exchange my 1991 Volvo for an upmarket Roller. :D

CTT your a proper tight ar$e. :D

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