Have you been shopping around for a half-reasonable savings plan lately and found that ‘The Royal Bank of Under the Mattress’ seems to be offering the highest dividends at the moment? What is going on in the financial world currently?
The banks and building societies could definitely afford to offer much better rates on savings at the moment, than the pitiful interest rates that seems to be around at the moment. Especially when you see what they’re charging to actually lend money and when equity release UK companies are falling over themselves at the moment to offer their customers the best equity release deals in the market.
Indeed, this seems to be the way things are now with the banks and building societies, ever since the credit crunch. They got themselves into this dilemma in the first place and now they’re damned if they’re going to give their customers an easier time of things in the future. If you are struggling to find any worthwhile savings account for your money but would still appreciate some other reliable source of income, now may well be the best time to seriously think about equity release.
The thing is, if you were to lock yourself into an equity release plan right now, given the fact that the interest rates are the best they’ve been in around five years, this means you will get one of the best deals for lifetime mortgages at the moment. Moreover and the aspect that is of the most importance to you, no doubt, is the very fact that you will be able to secure yourself a nice extra income on a regular basis, or if you prefer, have a large lump sum now.
By locking into the current range of lifetime mortgage interest rates, you are securing the same rate into the future; in fact for the rest of your life. It is not just the current rates that are advantageous, but the offers that currently come with them. So, if you’re looking for cashback, free valuation or exclusive interest rate, they will all help with reducing set up costs. Therefore, always shop around for the best equity release deals by using a specialist adviser in this field who has access to the whole of this market.
Just imagine what you could do with this much-needed extra cash at the moment? It would mean the difference between struggling to make ends meets from one month to the next, and instead, having money now to live as you would like to in the latter years of life. This could mean that Caribbean cruise you have promised yourself for the last 25 years but never got around to for timing and financial reasons. You might also be able to send some help to the family – at a time when most families are really feeling the bite of this austere economy.
If you fancy investigating the possibility of an equity release plan, get yourself on to one of the many company websites that provide equity release calculators for you to find the very best deal for you. If you wish to speak to an adviser call 0800 678 5169.