What You Should Know About Equity Release Mortgages
February 22, 2008
Finding the best equity release mortgage to fit your circumstances as a home owner is a task that can seem quite daunting. After all you are releasing equity from your home which is your primary asset. It is the reason you are considering this form of finance. You want to know how to go about getting an equity release mortgage and releasing the money tied up in your property. [Read more]
Northern Rock Relieved of Equity Release Portfolio
January 12, 2008
Northern Rock announced yesterday that it has agreed to sell its portfolio of Lifetime home equity release mortgages to JPMorgan. The move will help pay back some of its loan to the Bank of England.
Northern Rock has agreed to keep running the portfolio of equity release mortgage products on behalf of JPMorgan.
Equity Release plans are more popular in the UK than they are in the US. They are aimed at people over 55 who want to release some or all of the equity they may have tied up in their homes. The sale of the equity release portfolio for £2.25bn bolstered the Northern Rock share price which closed at 87.25p up by 2p. [Read more]