Exploring Home Equity Release Options for Retirees Opportunities for optimising Retirement Income.
|
|
- Bruno Barnett
- 8 years ago
- Views:
Transcription
1 Exploring Home Equity Release Options for Retirees Opportunities for optimising Retirement Income. Dr Ashton de Silva, Dr Stuart Thomas, Dr Farzad Alavi Fard and Dr Sarah Sinclair.
2 The Challenge: An aging population Shortfalls in retirement savings Lack of household interest in retirement saving plans Older people wanting to age in their own home Potential inclusion of housing in the means test for the Aged Pension 2
3 The Population Challenge (IGR) 3
4 The Curse: Asset rich but income poor A high proportion of Australian seniors own their own homes but cannot (easily or willingly) access the equity in their own homes to fund their retirement 4
5 IGR Projections 5
6 The Cure? Can releasing equity be the solution? Tentatively, an important part, but not the silver bullet New financial products, advice tailored to cash flow in the later decumulation phase, and regulation for housing equity decumulation, might contribute to maintaining a decent quality of life for older Australians, particularly when other sources of income have diminished. Johnson et al (2015) Our Brief: To explore the potential of the equity release market in Australia. With house prices rising steadily and the costs of borrowing at historically low levels, reverse mortgages are an increasingly attractive investment option for retirees. Compared with selling a house and losing all or a large part of pension entitlement, a reverse mortgage can yield higher returns than alternative investments. Retaining the home costs less than renting even after allowing for the expenses involved. Brisbane Times March 6 th
7 The Products 1. Reverse Mortgages Financial contracts that allow a homeowner to consume some of the home equity but still maintain ownership and residence in the home 2. Equity Release Programs (Homesafe) Home Reversion Products: a proportion of the home equity being sold and the senior homeowner retaining the right to continue living in the home. 3. Segmented equity release (Domacom) Similar to 2 in that an equity share is sold but an investor buys directly into a specific property. 7
8 Product Detail Guide Typical Home Mortgage Reverse Mortgage Equity Release Segmented Equity Release Consumer objective Outright property purchase Supplement retirement savings Supplement retirement savings Supplement retirement savings Consumer Receives Lump sum to purchase property Lump Sum/ Income Stream Lump Sum Lump Sum or partial settlement Provider Receives Regular Interest Rate Chargers Receive a % of sales proceeds of house % of property on the point of sale (within 12 months of departure % of property on the point of sale (within 12 months of departure Consumer Age Profile Approx 70% below 44 Greater than 60 Greater than 65 TBC Amount $300K % of property value TBC TBC 8
9 Product Feature Guide Qualify Duration Interest Charges Termination Number of Providers House price movements Typical Home Mortgage Income. Wealth underwriting standards Fixed (max) duration Standard Variable Payed off loan Reverse Mortgage Home Equity Equity Release Equity in a blue chip area. Segmented Equity Release Not confined to blue chip. Undefined Undefined Undefined 1% above variable Property departure None Property departure TBC Many Five One One Consumer Provider/Con sumer Provider Property departure Investor and retiree 9
10 Consumers are found wanting Awareness Little advertising by reverse mortgages providers. Lack of known brands offering products. Understanding Interest rate uncertainty concerns about compound interest, lack of understanding of the reversionary interest the life interest components of a home. Economic imperative vs emotional attachment Emotive issues around the family home. Incentive structure No compulsion/government encouragement. 10
11 Supply side is thin Little competition Five RM providers (Down from 15 prior to GFC) One home equity provider (another coming soon) Economic rationing Less funding for reverse mortgages after the Global Financial Crisis (GFC). Inefficient use of capital to fund equity release products for some providers. Regulatory burden Complicated operating environment under existing legislation for home reversion schemes. Loan to Valuation Ratios (LVRs) on offer are low. 11
12 Risks Factors Macro Risks 1. Long term interest rates; and 2. Longevity 3. Prudential regulatory requirements Product Specifications Risk There are two ways in which a reverse mortgage differs from other fixed income securities. 4. Default risk 5. Likelihood of an unanticipated termination 12
13 Product Risk To exhibit this, we price a bond, a mortgage, and a RM under the following assumptions: Continuous time finance Stochastic interest rate(cir model) Life of 10 years for each product Unanticipated terminations is modeled by a Poisson process: McConnel (1981) 13
14 Product Risk: Elasticity of price ( ) 15 Price Elasticity Series1 10 Series2 Series % 3% 4% 5% 6% 7% 8% 10% 15% 20%
15 Where to from here 1. What are the perceived inhibitors to the development of this market? 2. What are the main risks from consumer, supplier, regulators and society perspectives? 3. What strategies could be undertaken to assist in the development of the market? 15
16 Consumer Scenarios Life cycle theory Assuming a consumer has an income gap Several exits from (independent) living Death Retirement Village High-level Care (Several stages of this) Other 16
17 Health warnings 17
18 Troublesome Calculation Assumptions: $50,000 loan at age 60, no regular withdrawals, interest rate of 10% calculated and charged monthly, $1200 establishment fees, $9 monthly fees added to loan balance. 18
19 Resources consulted so far Critical discourse of media. Select Industry practitioners Review of industry secondary data. E.g. SEQAL Institute of Actuaries UK equity release council. Academic literature U.S. centric A little bit on UK Comparatively little Australian Literature 19
HOME EQUITY RELEASE THE FOURTH PILLAR OF RETIREMENT FUNDING. Christine Brownfield
HOME EQUITY RELEASE THE FOURTH PILLAR OF RETIREMENT FUNDING Christine Brownfield 20 th November 2014 Our Retirement Income System The Age Pension Compulsory Superannuation Voluntary Superannuation + Other
More informationFor many Australians, their main form of savings over their lifetime is their home. Directing savings towards a home provides two benefits:-
1. Executive Summary For many Australians, their main form of savings over their lifetime is their home. Directing savings towards a home provides two benefits:- Ø A place to live, with security of tenure.
More informationSubmission to the Financial System Inquiry. August 2014. Homesafe Solutions Pty Ltd
Submission to the Financial System Inquiry August 2014 Homesafe Solutions Pty Ltd Executive Summary Homesafe Solutions Pty Ltd welcomes the inclusion of access to equity in the home in the Interim Report
More informationContributing the Family Home to Super
Contributing the Family Home to Super An innovative proposal designed to assist with the accommodation and income needs of older Australians wishing to remain in their own homes. Abstract There has been
More informationWe are therefore taking the opportunity to comment on this aspect of Australia s Future Tax System Retirement Income Consultation paper.
27 February 2009 Dr Ken Henry AFTS Secretariat The Treasury Langton Crescent PARKES ACT 2600 Dear Dr Henry Re: EQUITY RELEASE SUBMISSION FOR RETIREMENT INCOME SYSTEM REVIEW The National Information Centre
More informationREPORT 59 Equity release products
REPORT 59 Equity release products November 2005 Executive summary In the last year Australia has seen the rapid development of a range of equity release products, where consumers can obtain current financial
More informationAnalysis of Equity Release Products Robert Sorbello 2006 Actuarial Honours Thesis, Australian National University
Robert Sorbello 2006 Actuarial Honours Thesis, Australian National University Robert Sorbello REFERENCE NUMBER: RSORB Disclaimer The material in this report is copyright of Robert Sorbello. The views and
More informationReverse Mortgages The only alternative retirement product? Martin Lynch - RBS
Reverse Mortgages The only alternative retirement product? Martin Lynch - RBS Reverse Mortgages Brief Introduction How it works Home owners aged over 60 borrow against the equity in their property No repayments
More informationCan Equity Release Mechanisms fund long term care costs? Desmond Le Grys
2001 Health Care Conference Can Equity Release Mechanisms fund long term care costs? Desmond Le Grys 1 Introduction 1.1 Scope This paper attempts to explain why equity release products have rarely been
More informationPricing and Securitization of Reverse Mortgage for Dependent Lives
Pricing and Securitization of Reverse Mortgage for Dependent Lives Sharon S. Yang National Central University Corresponding Author: Sharon S. Yang, Associate Professor, Department of Finance, National
More informationReverse Mortgages Policy
Reverse Mortgages Policy March 2014 Version Date 2 November 2012 3 March 2014 Document owner Professional Standards Professional Standards Approved by RI Compliance Committee Date of approval 22/11/2012
More informationRetirement Policy & Research Centre Symposium Spending the Savings: Decumulation & Middle-income Retirement 30 Nov 2012
Retirement Policy & Research Centre Symposium Spending the Savings: Decumulation & Middle-income Retirement 30 Nov 2012 The Future of Home Equity Release Products The Role of Property as a Decumulation
More informationReverse Mortgage. That s what we re here for. Financial freedom to do the things you ve always wanted. Here for good.
Reverse Mortgage Financial freedom to do the things you ve always wanted That s what we re here for. Here for good. Contents 2 The freedom of a Reverse Mortgage 3 Product overview 4 About Reverse Mortgages
More informationNote: The paid up value would be payable only on due maturity of the policy.
Section II Question 6 The earning member of a family aged 35 years expects to earn till next 25 years. He expects an annual growth of 8% in his existing net income of Rs. 5 lakh p.a. If he considers an
More informationUSE YOUR HOME TO STAY AT HOME
USE YOUR HOME TO STAY AT HOME Role of Reverse Mortgages to Pay for Long-Term Care at Home Press Briefing National Council on the Aging January 26, 2005 Contact: Scott Parkin, NCOA VP Communications 202-479-6975
More informationThe House and Retirement Wealth Decumulation
The House and Retirement Wealth Decumulation Anthony Webb Ph.D Center for Retirement Research at Boston College Conference on the Optimal Retirement Withdrawal Strategy NYU Stern School of Business, New
More informationProposed Information Statement Reverse Mortgage. Things you should know about your reverse mortgage
Page 1 of 7 Proposed Information Statement Reverse Mortgage Things you should know about your reverse mortgage This statement is provided to you because reverse mortgages operate differently to other credit
More informationDevelopments in the Equity Release Market
Developments in the Equity Release Market Brian Morrissey, KPMG 2003 Life Convention 9-11 November Hilton Birmingham Metropole Hotel Agenda Equity Release products in UK Regulation Risks Funding Financial
More informationBriefing Paper on Equity Release
COUNCIL of MORTGAGE LENDERS Briefing Paper on Equity Release What is equity release? 1. Equity is the difference between any mortgage you may have and the value of your home. Equity release is a way of
More informationIs equity release the right choice for you? Protecting yourself If it isn t right for you, what are the alternatives?
Buyer s Guide : Content Page 1: What is equity release? Page 2: Is equity release the right choice for you? Page 3: Protecting yourself If it isn t right for you, what are the alternatives? Page 4: Lifetime
More informationReverse Mortgage- Growing Market in India
Reverse Mortgage- Growing Market in India By Singhal, Saket & Jain, Amit Abstract With National Housing Bank coming up with the guidelines for Reverse Mortgage Products and some banks offering the product
More informationDeloitte Reverse Mortgage Survey December 2013
Deloitte Reverse Mortgage Survey December 2013 James Hickey Financial Services Partner +61 2 9322 5009 jahickey@deloitte.com.au Contents 1. Market Volumes & Mix 2. Housing Splits 3. Borrowers 4. Summary
More informationReview of Annuity Market
Review of Annuity Market Submission by the Society of Actuaries in Ireland February 2007 Introduction The Society of Actuaries in Ireland welcomes the opportunity to make this submission in relation to
More informationEquity Release Guide. Helping you make the right decision. nationwide service all lenders available personal visits. www.therightequityrelease.co.
Equity Release Guide 0800 612 5749 www.therightequityrelease.co.uk Helping you make the right decision nationwide service all lenders available personal visits 1 Welcome to The Right Equity Release Who
More informationManaging Home Equity to Build Wealth By Ray Meadows CPA, CFA, MBA
Managing Home Equity to Build Wealth By Ray Meadows CPA, CFA, MBA About the Author Ray Meadows is the president of Berkeley Investment Advisors, a real estate brokerage and investment advisory firm. He
More informationRetirement Income White Paper Insights Presentation
Retirement Income White Paper Insights Presentation Alun Stevens Jack Ding Nathan Bonarius Agenda Background Preliminary projections What are the risks? What are the possible solutions? Purpose of presentation
More informationReverse Mortgages A Source of Funds for Retirement?
Reverse Mortgages A Source of Funds for Retirement? Many people make it a goal of their financial lives to invest in a home. It is a great accomplishment when that last mortgage payment is made. Can a
More informationReverse Mortgages. An investment research policy for using reverse mortgages
Reverse Mortgages An investment research policy for using reverse mortgages Table of contents Table of contents... 2 At a glance... 3 Introduction... 4 What is a reverse mortgage?... 4 Advantages and disadvantages...
More informationSelf Managed Superannuation Funds
Self Managed Superannuation Funds You have as much choice and control over an investment property using your superannuation funds as you would by investing personally Self Managed Superannuation Funds
More informationWhen will the Fund become cash flow negative?
LONDON BOROUGH OF BARKING AND DAGENHAM PENSION FUND 001 When will the Fund become cash flow negative? Addressee This paper is addressed to the Officers and Elected Members of London Borough of Barking
More informationPPI. Retirement income and assets: how can housing support retirement? 15 September 2009. www.pensionspolicyinstitute.org.uk PENSIONS POLICY INSTITUTE
Retirement income and assets: how can housing support retirement? 15 September 2009 www.pensionspolicyinstitute.org.uk Retirement income and assets: how can housing support retirement? Niki Cleal, John
More information22 June 2012 The role of insurance companies. Social Security Seminar 2012 Managing Uncertainty Together
building value together 22 June 2012 The role of insurance companies Social Security Seminar 2012 Managing Uncertainty Together Farzana Ismail, FIA Consulting www.actuarialpartners.com Contents Types of
More informationPersonal Pension Account
Personal Pension Account Contents Introduction... 1 A Closer Look At Our Personal Pension Account... 2 What Are The Tax Advantages?... 3 Flexible Contribution Options... 4 You Control Your Investment...
More informationA Guide to Equity Release in Retirement
A Guide to Equity Release in Retirement 1. Introduction For the retirement you deserve 2. What is Equity Release? 3. Equity Release Plans The options available to you 4. The Application Process 5. Questions
More informationRisk Management and Payout Design of Reverse Mortgages
1 Risk Management and Payout Design of Reverse Mortgages Daniel Cho, Katja Hanewald and Michael Sherris School of Risk & Actuarial ARC Centre of Excellence in Population Ageing Research (CEPAR) University
More informationAnnuities and decumulation phase of retirement. Chris Daykin UK Government Actuary Chairman, PBSS Section of IAA
Annuities and decumulation phase of retirement Chris Daykin UK Government Actuary Chairman, PBSS Section of IAA CASH LUMP SUM AT RETIREMENT CASH INSTEAD OF PENSION > popular with pension scheme members
More informationCOMMINSURE LIFETIME INCOME ANNUITY.
COMMINSURE LIFETIME INCOME ANNUITY. A retirement income solution now with a Death Benefit Guarantee. A CommInsure Lifetime Income Annuity now offers even more comfort, protection and value with a Death
More informationThe Cost and Benefit of Reverse Mortgages
The Cost and Benefit of Reverse Mortgages Han B Kang Illinois State University ABSTRACT There has been a growing popularity of reverse mortgage among senior citizens who need cash. The loan allows homeowners
More informationChallenger Guaranteed Annuity (Liquid Lifetime)
Challenger Guaranteed Annuity (Liquid Lifetime) Product Disclosure Statement (PDS) Dated 27 October 2014 Challenger Guaranteed Annuity (SPIN CHG0005AU) Issuer Challenger Life Company Limited (ABN 44 072
More information7 Reasons Why Property
7 Reasons Why Property Investment can t be ignored. Know your options before it s too late. What is in this report? This report is a must read for anyone looking to improve their lifestyle and enjoy greater
More informationArticle from: Reinsurance News. February 2010 Issue 67
Article from: Reinsurance News February 2010 Issue 67 Life Settlements A Window Of Opportunity For The Life Insurance Industry? By Michael Shumrak Michael Shumrak, FSA, MAAA, FCA, is president of Shumrak
More informationEquity release using your home to get a cash sum
Equity release using your home to get a cash sum for independent information About us We are an independent watchdog set up by the Government to: regulate firms that provide financial services; and help
More informationViliam Páleník. Kristína Petríková. Institute of Economic Research SAS European Economic and Social Committee. Institute of Economic Research SAS
Viliam Páleník Institute of Economic Research SAS European Economic and Social Committee Kristína Petríková Institute of Economic Research SAS Motivation Introduction Context Financial Services Equity
More informationHMBS Overview. Ginnie Mae s Program to Securitize Government Insured Home Equity Conversion Mortgages
HMBS Overview Ginnie Mae s Program to Securitize Government Insured Home Equity Conversion Mortgages Table of Contents Tab A: Program Overview Tab B: Home Equity Conversion Mortgage (HECM) Trends Tab C:
More informationEuropean Union Green Paper on Mortgage Credit in the EU. Response from Prudential plc
1 General Comments European Union Green Paper on Mortgage Credit in the EU Response from Prudential plc 1.1 We welcome the opportunity to respond to the Commission s Green Paper on Mortgage Credit in the
More informationUse of Property during Retirement Supplementary Paper Number 04. New Pensions Working Group Authorised by the Malta Financial Services Authority
Use of Property during Retirement Supplementary Paper Number 04 New Pensions Working Group Authorised by the Malta Financial Services Authority December 2010 Table of Contents Table of Contents... i List
More informationInsights. Investment strategy design for defined contribution pension plans. An Asset-Liability Risk Management Challenge
Insights Investment strategy design for defined contribution pension plans Philip Mowbray Philip.Mowbray@barrhibb.com The widespread growth of Defined Contribution (DC) plans as the core retirement savings
More informationChanges announced in last year s Budget have removed some of the
The Australian Journal of Financial Planning 71 Reverse mortgages and pension planning By Benedict Davies Technical Services Manager, Over Fifty Group Changes announced in last year s Budget have removed
More informationEquity Release Options and Guarantees Duncan Rawlinson
Equity Release Options and Guarantees Duncan Rawlinson Copyright 2006, the Tillinghast Business of Towers Perrin. All rights reserved. A licence to publish is granted to the Institute of Actuaries of Australia.
More informationReleasing Housing Equity
Briefing 3 Releasing Housing Equity February 2010 The aim of this briefing is to present findings about the means especially financial products whereby European households might release the equity in their
More informationRELEASING CASH FROM YOUR HOME
RELEASING CASH FROM YOUR HOME As a recommended adviser for the Society of Later Life Advisers (SOLLA) we are frequently asked to advise on home income/equity release plans. These notes are designed to
More informationCONSERVO INTERNATIONAL RETIREMENT PLAN INFORMATION SHEET
CONSERVO INTERNATIONAL RETIREMENT PLAN INFORMATION SHEET www.sovereigngroup.com Conservo International Retirement Plan Information Sheet The Conservo International Retirement Plan ( the Plan ) is a low
More informationChadwick s. Equity Release
c Independent Chadwick s Financial Advisers Equity Release Contents Chadwick s IFA Page 4 Equity Release Page 5 Lifetime Mortgages Page 6 Home Reversion Schemes Page 7 Considerations Pages 8&9 Safe Guards
More informationPension fund and residential property/
Promotion of home ownership Pension fund and residential property/ Withdrawing or pledging Pillar 2 assets for purchasing residential property Contents Raising capital to purchase a home 3 Own capital
More informationlargeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904
largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 CONTENTS What is equity release?... 3 How much money could I raise through an equity release?... 4 What
More informationYour Guide to Equity Release
Equity release has enabled me to go on more holidays, purchase a new car and make some major household purchases. The service provided met our financial needs in an efficient and helpful way. John, Sutton
More informationSUBMISSION TO INQUIRY INTO AFFORDABLE HOUSING. Prepared by National Policy Office
SUBMISSION TO INQUIRY INTO AFFORDABLE HOUSING Prepared by National Policy Office March 2014 COTA Australia Authorised by: Ian Yates AM Chief Executive iyates@cota.org.au 0418 835 439 Prepared by: Jo Root
More informationInternational Bond Key features
International Bond Key features This is an important document. Please read it and keep for future reference. Helping you decide This key features document contains important information about the main
More informationRELEASING CASH FROM YOUR HOME
RELEASING CASH FROM YOUR HOME As a recommended SOLLA adviser we are frequently asked to advise on home income/equity release plans. These notes are designed to provide some general background to clients
More informationActuarial Report. On the Proposed Transfer of the Life Insurance Business from. Asteron Life Limited. Suncorp Life & Superannuation Limited
Actuarial Report On the Proposed Transfer of the Life Insurance Business from Asteron Life Limited to Suncorp Life & Superannuation Limited Actuarial Report Page 1 of 47 1. Executive Summary 1.1 Background
More informationEquity Release Guide. www.seniorissues.co.uk
Equity Release Guide www.seniorissues.co.uk For more information or to speak to one of our trained advisers please telephone our Senior Issues Team on 0845 855 4411 The Caesar & Howie Group 7/3/2008 EQUITY
More informationHow to... Help your clients use their pensions freedom wisely
How to... Help your clients use their pensions freedom wisely How To Guide Introduction The new pension freedoms that came into effect in April 2015, may, at first, seem like a very attractive prospect.
More informationThis document is a Fact Sheet for the Product Disclosure Statement dated 22 May 2010 for Flexible Lifetime - Super and Allocated Pension ( PDS ).
Fact sheet 4 Fees and other costs This document is a Fact Sheet for the Product Disclosure Statement dated 22 May 2010 for Flexible Lifetime - Super and Allocated Pension ( PDS ). CONTENTS PAGE Taxation
More informationAccommodation Bond Loans
Accommodation Bond Loans Banksia Mortgages Limited ABN 36 087 342 238 Australian Credit Licence Number 227733 www.banksiagroup.com.au Investments & Loans About the Fund Manager Banksia Mortgages Limited
More informationUSA Reverse. Learn the Facts about Reverse Mortgages. Danny Glover - Human Rights Activist
Learn the Facts about Reverse Mortgages Danny Glover - Human Rights Activist Single-purpose Reverse Mortgages Single-purpose reverse mortgages are the least expensive option. They re offered by some state
More informationA Study on Pricing of the Reverse Mortgage with an Embedded Redeemable Option An analysis based on China s market
A Study on Pricing of the Reverse Mortgage with an Embedded Redeemable Option An analysis based on China s market Chen Bingzheng, Deng Yinglu, Qin Peng CCIRM, Tsinghua Univ. Introduction Reverse mortgage:
More informationUse your home to your advantage. A guide to equity release
Use your home to your advantage A guide to equity release 2 A guide to equity release Introducing Retirement Advantage Previously known as MGM Advantage and Stonehaven, we are a wellestablished company
More informationSOA 2010 Annual Meeting & Exhibit Oct. 17-20, 2010. Session 119 PD, Impact of Housing on Economic Security in Retirement
SOA 2010 Annual Meeting & Exhibit Oct. 17-20, 2010 Session 119 PD, Impact of Housing on Economic Security in Retirement Moderator: Anna M. Rappaport, FSA, EA, MAAA Presenters: Thomas N. Herzog, ASA Anna
More informationPlanning for Care Costs. The Options in Scotland
Planning for Care Costs The Options in Scotland For more information or to speak to one of our trained advisers please telephone our team on 0800 152 2037 Solicitors For Older People Scotland 1/7/2012
More informationAustralia: Retirement Income and Annuities Markets. Contractual Savings Conference April 2008 Greg Brunner
Australia: Retirement Income and Annuities Markets Contractual Savings Conference April 2008 Greg Brunner Pension system Age pension in place since 1908, funded on a payas-you go basis Means testing. The
More informationRefinancing Premium, National Loan Limit, and Long-Term Care Premium Waiver for FHA s HECM Program
U.S. DEPARTMENT OF HOUSING POLICY DEVELOPMENT & RESEARCH Refinancing Premium, National Loan Limit, and Long-Term Care Premium Waiver for FHA s HECM Program AND URBAN DEVELOPMENT ECONOMIC RESEARCH U.S.
More informationWhat are the key current issues shaping equity release by older home owners?
What are the key current issues shaping equity release by older home owners? Round table discussion November 7th 2012 About this project Focus today on equity release but a bigger picture. Initial proposal
More informationWHAT IS EQUITY RELEASE? WHY CONSIDER EQUITY RELEASE?
WHAT IS EQUITY RELEASE? Equity Release can free some of the capital tied up in your home, while you continue to live there. This money can be in the form of a tax-free lump sum, a regular income or a combination
More informationEquity release. A guide for those considering unlocking the value in their home
Equity release A guide for those considering unlocking the value in their home Purpose Equity release is a big decision that will affect the rest of your life. It will mean giving up full control over
More informationCertificate in Regulated Equity Release
Unit 1: Fundamentals of Equity Release Certificate in Regulated Equity Release Attainment Level knowledge of: K1 Definition of a Home Reversion (HR) plan & alternative methods of equity release/capital
More informationYour Guide to Equity Release
Equity release has provided me with financial stability. I now have the opportunity to help my family, go on holiday, and make some home improvements. Mr W, East Sussex Your Guide to Equity Release Contents
More informationREVIEW OF CARE PRODUCTS KEY MESSAGES ANNEX PACK
REVIEW OF CARE PRODUCTS KEY MESSAGES ANNEX PACK Annex A Consumers and Marketplace Working Group Age Segmentation The public information initiative should have an overarching message focussed on planning
More informationSaga Equity Release Advice Guide
Your guide to Equity Release Expert advice with no obligation Your introduction to equity release Your retirement should give you the freedom to do all the things in life you haven t had time for. However,
More informationIT S MORTGAGE REVERSE A SIGN OF THE TIMES
IT S A SIGN OF THE TIMES REVERSE MORTGAGE UNLOCK THE EQUITY IN YOUR HOME If you want the financial freedom to spend your retirement how you choose, with independence and dignity, you should talk to us.
More informationOverview of GNMA Reverse Mortgage Backed Securities (HMBS) Evaluations
Overview of GNMA Reverse Mortgage Backed Securities (HMBS) Evaluations April 8, 2010 Matthew Brodin, Director-Evaluated Services Lynn Barry, Manager-Structured Group Interactive Data Pricing and Reference
More information11.437 Financing Community Economic Development Class 6: Fixed Asset Financing
11.437 Financing Community Economic Development Class 6: Fixed Asset Financing I. Purpose of asset financing Fixed asset financing refers to the financing for real estate and equipment needs of a business.
More informationFinancing retirement with real estate assets: an analysis of
Financing retirement with real estate assets: an analysis of Mexico Carmen Hoyo and David Tuesta 19 th LACEA Annual Meeting 2014 Sao Paulo, 21 st November 2014 Contents Section 1 The current issues with
More informationQUESTIONS AND ANSWERS - SOCIAL SECURITY INCOME AND ASSETS TESTS ASSESSMENT OF CONVENTIONAL LIFE INSURANCE POLICIES
QUESTIONS AND ANSWERS - SOCIAL SECURITY INCOME AND ASSETS TESTS ASSESSMENT OF CONVENTIONAL LIFE INSURANCE POLICIES These Questions and Answers are about the income and assets tests treatment of conventional
More informationStructured Cash Flows offer buyers competitive fixed rates with predictable income that can be customized to their unique needs.
Brochure Summary: The secondary structured cash flow market has been in existence for decades, and is a multibillion dollar per year industry. The secondary structured cash flow market allows an individual
More informationEquity Release An easy to understand guide just for you
TRuE BEARing ChARTEREd e Right direction for Financial Advice Equity Release An easy to understand guide just for you True Bearing Chartered 2 Buckshaw Court, East Terrace Business Park Euxton Lane, Euxton,
More informationThe 5 Facts You Need to Know about FHA-insured Reverse Mortgages aka HECMs
The 5 Facts You Need to Know about FHA-insured Reverse Mortgages aka HECMs Paul Pomeroy 503 421 0798 Email: paul.pomero@reversefunding.com 1 A HECM by any other name 99% of Reverse Mortgages are... Home
More informationHome Equity as a Source of Retirement Income February 2013
Home Equity as a Source of Retirement Income February 2013 Written by Edwin L. Weinstein, PhD The Brondesbury Group, Toronto, ON 2013 The Brondesbury Group Home Equity as a Source of Retirement Income
More informationchecklist for 2012 INSIDE this issue THE REVERSE review march 2012 The truth about reverse mortgages and how they can help Secure retirement
the reverse review the reverse review NAVIGATING CHANGES FROM CORDRAY S CAMP PG. 17 THE INDUSTRY WITHOUT WELLS fargo AND Bank of america PG. 28 + GREGG SMITH SITS DOWN IN OUR HOT SEAT! Building your checklist
More informationHow To Understand The Economic And Social Costs Of Living In Australia
Australia s retirement provision: the decumulation challenge John Piggott Director CEPAR Outline of talk Introduction to Australian retirement policy Issues in Longevity Current retirement products in
More informationA new toolbox for retirement planning
Insights A new toolbox for retirement planning Part 1: Risk measurement: an essential tool for retirement income planning This is an updated version of a report first presented at Barrie & Hibbert s Retirement
More informationUnderstanding retirement income Version 5.0
Understanding retirement income Version 5.0 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to understanding retirement.
More informationInsuring long-term care needs. Christophe Courbage
Insuring long-term care needs Christophe Courbage Introduction Low public coverage and increasing budgetary constraints prompt a move towards developing insurance solutions to cover LTC. Market evolution
More informationThe 2004 Report of the Social Security Trustees: Social Security Shortfalls, Social Security Reform and Higher Education
POLICY BRIEF Visit us at: www.tiaa-crefinstitute.org. September 2004 The 2004 Report of the Social Security Trustees: Social Security Shortfalls, Social Security Reform and Higher Education The 2004 Social
More information10 MISTAKES PEOPLE MAKE IN RETIREMENT
10 MISTAKES PEOPLE MAKE IN RETIREMENT by Bill Elson, CFP 3705 Grand Avenue Des Moines, IA 50312 (515) 255-3306 or (800) 616-4392 belson@vsrfin.com KEYWORDS: RETIREMENT PLANNING, RETIREMENT INCOME, RETIREMENT
More informationContents. Meeting the Costs of Live at Home Care & Nursing Funding Options Handbook. Funding Options 2. Private Funding 3
Meeting the Costs of Live at Home Care & Nursing Funding Options Handbook Contents Funding Options 2 Private Funding 3 Equity Release Schemes Home Reversion Plans 3 Full Reversion Plans 4 Partial Reversion
More informationLIFE SETTLEMENTS: INTERNATIONAL MARKETS
LIFE SETTLEMENTS: INTERNATIONAL MARKETS Simon Erritt Chair, ELSA Managing Director, Finance, Coventry Capital Ltd 5 May 2015 OUTLINE UK Secondary Annuity Market Timeline Why Do We Care? Why Should You
More informationAbout Mortgage Market Corp
About Mortgage Market Corp Mortgage Market Corp. works with a variety of lenders and with this being one of the largest financial decision s that you will make, selecting the right mortgage program to
More informationUnderstanding annuities Secure your future with a safe, reliable income stream
Understanding annuities Secure your future with a safe, reliable income stream Contents Retirement today 1 Growing assets versus protecting assets 3 What is an annuity? 4 Types of annuities 7 Benefits
More informationYour investment choices and charges. Explaining the investment options and charges for our Active Money Self Invested Personal Pension
Your investment choices and charges Explaining the investment options and charges for our Active Money Self Invested Personal Pension Contents 02 Level 1 investments 04 Level 2 investments 06 Level 3 investments
More information