Small Business Resources, Business Advice and Forms from AllBusiness.com

British Consumer Groups Warn Seniors of Pitfalls in 'Reverse Mortgages'.

By Tracey Boles, Sunday Business, London Knight Ridder/Tribune Business News

Aug. 12--"Your key to a new lease of life!" the UK newspaper advertisement shouts over a picture of a smiling, older couple. It is the latest in a flurry promoting e...uity release plans, the miracle product for pensioners fed up with scraping by on meagre pensions.

This increasingly popular product, which accounted for UKpound 650 million (E923 million, $1 billion) of new UK lending last year (and even more this year), allows elderly people to supplement their incomes by unlo

In addition, make sure to read these premium articles also available with your free trial:

T T T
art_print Printart_email Email 16x16-digg-guy  Digg It delicious-small  del.icio.us

Related Resources

Free AllBusiness Articles

  • No Surprises from the Fed
    • An unexpected rate jump in March 1994 did more than end a refinancing boom. Lenders that hadn't locked their loan pipelines absorbed losses, and some mortgage brokerages went out of business as a result. Many firms were ramping up their practices right before the market turned. Some had recently rented ......
  • No surprises from the Fed.
    • An unexpected rate jump in March 1994 did more than end a refinancing boom. Lenders that hadn't locked their loan pipelines absorbed losses, and some mortgage brokerages went out of business as a result. Many firms were ramping up their practices right before the market turned. Some had recently rented ......
  • Equity release mortgages
    • For the aging population in the United States and Europe, equity release products are becoming more prominent in the financial marketplace as alternative methods of financing retirement and aging. The general growth of homeownership has extended to all economic levels and age groups but this growth has not always gone ......
  • FHA modernization bill clears House committee; HUD seeks full passage
    • A newly modernized Federal Housing Administration (FHA) could serve as an antidote to the current subprime mortgage market problems, but every day that Congress delays in pushing through an FHA reform bill puts homeowners at risk, declared the head of the Department of Housing and Urban Development (HUD). IMAGE ILLUSTRATION ......
  • FHA modernization bill clears House committee; HUD seeks full passage.
    • A newly modernized Federal Housing Administration (FHA) could serve as an antidote to the current subprime mortgage market problems, but every day that Congress delays in pushing through an FHA reform bill puts homeowners at risk, declared the head of the Department of Housing and Urban Development (HUD). [ILLUSTRATION OMITTED] ......
  • CML homes in on equity release
    • The Council of Mortgage Lenders (CML) has set out some of the key issues for developing safe, simple and standardised products that would allow older people to draw on the wealth in their homes to provide an income while continuing to enjoy security in old age. The research concludes that, ......
  • 2003: The outlook for mortgages
    • IMAGE PHOTOGRAPH 1 As the mortgage industry comes out from the two biggest years in history in terms of volume, it's still anyone's call what 2003 will look like. Will rates rise enough to slow down the refi market? Or will rates take another dive? Will the coming year become ......

Video

Forms

Blogs

Podcast

Related Topics
Tools

Sponsored Links

Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy

Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.

Get In-Depth Company Information from Hoover's | Buy a D&B Credit Report | What is in Your Company's D&B Credit Report? | Article Archives
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Information and opinions on AllBusiness.com solely represent the thoughts and opinions of the authors and are not endorsed by, or reflect the beliefs of,
AllBusiness.com, its parent company D&B, and its affiliates.