The Times - Equity release is good in theory, but don’t be misled

by Aaron Strutt

Oct 22 2016

Property rich, but cash poor people are increasingly unlocking lump sums from their flats and houses using equity release mortgages.

Aaron Strutt, product director at Trinity Financial, told The Times: "We went through a period when providers were literally undercutting each other.” 

Talking about Hodge Liftetime's products he adds: “Older borrowers are given the option to pay the interest each month or make overpayments on some loans, so the debt stays at the same amount and doesn’t grow to eat up all of the equity. It makes them more of a traditional mortgage."

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