Events

Mortgage Business Expo Manchester 14-15 May 2008

The SYH team had a very successful stand at Mortgage Business Expo Manchester from 14-15 May 2008. It was great to meet so many of you there and to introduce our innovative new Equity Release products to intermediaries in the Manchester and North West area.

Equity Release is becoming increasingly popular in the current difficult financial climate and more and more people are turning to the equity tied up in their property as a source of income.

This could be for a more comfortable retirement, but it is interesting to note that the age of people releasing equity is getting steadily younger. Increasing numbers of younger people (aged 50 plus) are now looking to Equity Release as a means of getting out of financial difficulty or to fund particular purchases. In fact, over 20% of 45-54 year olds are considering Equity Release!

This is not surprising, as recent research from Help the Aged shows that 1 in 4 people aged 55 to 64 are "credit users" owing an average of £2,500 in unsecured debt. Many who are coming up to retirement have spent their whole lives in debt, juggling credit cards and constantly increasing their overdraft limit. Soaring bills and lack of suitable pension provision means many people over 50 really need the money they can release from the equity in their property to stay afloat. Around two-thirds of the over-50s fear they face an impoverished retirement. 

Attitudes to Equity Release are also changing, particularly with the younger end of the market. In a recent survey by Saga, only 12% of more than 11,500 over-50s agreed that they should leave their homes untouched for their offspring to inherit their value, rather than taking out and using cash through Equity Release. Recent research from the CML also found that while older generations were still concerned about eating into the inheritance they intended to pass down, younger households were typically more comfortable drawing on their housing assets and were more keen on the idea of Equity Release. 

We are able to offer Equity Release products including Lifetime Mortages to people aged 55 plus, thus catering for this new, younger Equity Release market. We have always found that our plans offer a safe and sensible solution to financial difficulties - and with the current market and the extended range of products we can now offer, this is even more the case than ever.

To find out more about the SYH Charterhouse Equity Release plans, or to become an SYH Introducer, contact us today on the dedicated Intermediary Line: 08442 250 255 or email us at syhintroducer@syh.org.uk

 

SYH Charterhouse Equity Release Seminars

We will soon be running a series of Equity Release seminars specifically for intermediaries. To register your interest, please email syhintroducer@syh.org.uk with "Equity Release Seminars" in the subject header. A member of the team will then send you the relevant information about any seminars we will be holding in your area.