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First Choice Finance - Mortgage BrokerCompare Home Owner Loans


Equity release helps holidays and homes

Equity release helps holidays and homes

 



Video transcript

The amount of equity release money being spent on home improvements or going on holiday increased over the first quarter of the year, according to a new survey.

Key Retirement Solutions has found that two-thirds (67 per cent) of property owners spent some or all of their released equity on making their house more appealing between January and March, while 35 per cent used at least a portion of their money on treating themselves to a break.

Both of these figures have gone up significantly from the same period last year, as has the average amount released – in 2014, this sat in excess of £61,000 (£61,230), but 12 months previously, it was below £57,000 (£56,710).

It seems as though older homeowners all over the country are releasing equity too, with the totals released increasing in 11 out of the 12 regions, while the number of equity release plans agreed went up in seven areas.

First Choice Finance can help you to find the most suitable lifetime mortgage for you from their lender panel. Lifetime mortgages are a form of equity release where you take out a mortgage on your home but do not have to pay it back until your life ends or you move into permanent care. A qualified equity release adviser will walk you through our options for you without obligation and give you a free quotation for you to consider.

Discover more about equity release opportunities through First Choice Finance by visiting firstchoicefinance.co.uk or calling 0800 298 3000 on your landline, if using a mobile then dial 0333 003 1505.

Homeowner Secured Loans
Rates From 7.1% APRC Representative Example £30,000 over 72 months @ £679.90 repayments. Total payable of £49,949. 20.1% APRC including £2,975 intermediary fee and a £995 lender fee. Loans secured on property. First Choice are tied to certain loan providers.

Mortgages & Remortgages
4.5% APRC
Representative Example: Borrow £80,000 over 25 years At 4.6% Variable, £461.95 for 300 months.
Total Payable £138,585. Total Cost Of Credit £58,585 (incl £1360 fee).


Unsecured Personal Loans
REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Security is required on immovable property.



Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home

First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014.


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