SimplyFinance
Comprehensive. Trusted. Free.
Age Partnership
Age Partnership is an independent organisation that provides equity release products and advice to customers over the age of 55 who are looking to provide themselves with more money for home improvements or to enhance their lifestyle.
Age Partnership provides three types of equity release plans. The first is a lifetime mortgage. With a lifetime mortgage, you are given a lump sum of money that you do not need to repay. The amount that you are given plus any interest that accrues will be repaid to your lender from your estate once you've passed.
The second type of equity release plan provided by Age Partnership is called a drawdown lifetime mortgage. This type of equity release plan is similar to a lifetime mortgage only your are given your money in equal monthly payments, similar to receiving a paycheck. The benefit of a drawdown lifetime mortgage is that by taking your money in monthly payments, the amount of interest that accrues will be lower than if you take it in a lump sum. Like a lifetime mortgage, you will not make payments on this money. It will be repaid to your lender by your estate.
The third type of equity release plan available from Age Partnership is called a home reversion plan. In this case, you are giving up some or all of your ownership of your home in exchange for a lump sum of money. Despite your decreased ownership of your home, you are still afforded the right to live there until your death.
If you are looking for a mortgage, savings plan or insurance, use the tools on SimplyFinance.co.uk to find the best rate for you. This article should not be interpreted as financial advice or as a recommendation by SimplyFinance to use any individual service or to invest with any company advertised or mentioned.
Lower Your Mortgage
TODAY’S MORTGAGE RATES
| Loan Type | Rate | APR |
|---|---|---|
| Fixed | 5.6% | 6.9% |
| Tracker | 5.64% | 5.9% |
| Discounted | 5.7% | 6.9% |
| Capped | 6.05% | 7.2% |
About this index Rates may contain points
NEWS & ARTICLES
26 Jun 2008
Lower Fees Demanded in the Face of Declining Mortgage Approval Numbers
The mortgage market in the UK has looked better, but there are steps being taken by officials to lessen the burden on borrowers. This article talks about the current status of the mortgage market, the things being done to assist borrowers in this time of financial turmoil, and ways that borrowers can prepare themselves to go out and find the best mortgage loan for them. »
21 Sep 2008
Prices Fall in UK Housing Market
UK housing prices are currently at a record low since the housing slump of the 1990’s. The current housing market crash has been driven by the low availability of credit for new mortgages. The low housing prices reported in the fourth quarter of 1990 were due to high levels of unemployment coupled with the high interest rates. Regardless of the reasons behind the current housing crunch, reports suggest that the cost of housing in the UK is not expected to rise any time soon. Rather, the speculation is that the prices will continue to fall on average 2% per month, making any quick recovery from this slump unlikely.»
08 Nov 2008
UK Slashes Interest Rates
UK makes shocking slash to interest rates. The 1.5% cut brings the interest rates to the current level of 3%, the lowest level the UK has seen since 1955. Due to the current shift in interest rates, and the state of the UK economy, now may be a good time to consider a remortgage. »
Be updated on the latest market news: RSS Feeds