Saturday, Jul 27, 2013

Houses are still cash machines

This is Money: Homeowners release £500m of equity from their properties as interest-only mortgage crunch creeps closer

More than half a billion pounds was unlocked from the value of homes in the first half of 2013 by over-55s cashing in on their properties to fund their retirements.
Retirees funding home improvements, paying for holidays and treating their families withdrew £508million in equity release products - known as 'lifetime mortgages - in the first six months of this year, a rise of 12 per cent on 2012.

Posted by novice pete @ 04:52 PM (2269 views)
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3 Comments

1. dill said...

And, of course, every penny these selfish right-wing reprobates take out of the current equation consigns their progeny to poverty and ultimate civil war. But, do they care? Of course not. When you're dead, you're dead. Right?

Somebody else's problem. Right?

Saturday, July 27, 2013 05:36PM Report Comment
 

2. sibley's b'stard child said...

Ee when I were a lad, a home was for living in.

Sunday, July 28, 2013 12:32AM Report Comment
 

3. This comment has been removed as it was found to be in breach of our Blog Policies.

 

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