Tag Archives: debt
Research suggests UK home owners over 50 with a mortgage could get a better deal
One in three home owners in the UK aged over 50 still have a mortgage and many have never tried to renegotiate for a better deal, new research shows. Mortgagees in this age group have still got around £50,000 to pay and one in 14 think they have been prevented from moving their mortgage to a more competitive deal because of their age. The research by the Saga Equity Release Advice Service also shows that of those home owners in their 70s who still have a mortgage on average they have £40,000 to pay. While many of those in their early 50s still have years of working life to chip away at their debt, around one in seven people in their 70s are faced with having to use their weekly pension to pay off what’s owed instead of using it to enjoy their retirement as they had planned. Saga says that shopping around for a new mortgage could help people pay it off quicker but one in 10 over 50s say they are concerned about their lenders maximum borrowing age and it appears they are right to be worried as 7% say they have been prevented from moving their mortgage to a more competitive deal because of their age. ‘Millions of older homeowners have found themselves abandoned by mortgage lenders and stuck in uncompetitive deals because of the unfair age restrictions that many lenders have in place,’ said Alex Edmans, head of retirement at Saga Personal Finance. ‘If these people had access to a better deal they wouldn’t have to pay as much back each month which would leave them with more money to enjoy their retirement. For those in retirement struggling to meet their monthly mortgage costs it may be worth considering a lifetime mortgage to help ease the burden of the monthly repayments,’ he explained. ‘This may not be suitable for all, so it is well worth speaking with a specialist adviser, who would consider all alternatives and review whether any state benefits could help provide some relief. It is also extremely important that people discuss their options with their family or loved ones and we advise our customers to do this before taking out a lifetime mortgage,’ he added. Continue reading
New Funds: October 21
http://www.ft.com/cms/s/0/4dc5971c-374a-11e3-b42e-00144feab7de.html#ixzz2iXVJIIAx ● US fund house Legg Mason Global Asset Management has launched the Legg Mason Western Asset Senior Loans fund to provide exposure to debt securities and non-investment grade loans. ● UK fund company Schroders has launched a new catastrophe bond fund, the Schroder GAIA Cat Bond fund, on its Luxembourg-domiciled Ucits platform, to invest in regions with a high concentration of insured wealth. ● Natixis Asset Management has unveiled the Natixis Global Risk Parity fund, which will invest in a wide range of asset classes, from equities to commodities, real estate and emerging market debt. ● Willstone Management, a UK-based art investment company, has obtained $100m from two New York hedge funds to launch what it claims is the first sizeable dedicated art-lending business for Europe. ● Three seasoned activist investors, Blake Nixon, Max Lesser and Christopher Mills, have joined forces to launch investment vehicle Worsley Investors as part of a new venture, Worsley Asset Management. The fund will take strategic holdings in UK small-cap companies that are trading at deep discounts to their latent value. ● Baring Asset Management is to launch the Baring European Opportunities fund to invest in smaller European companies, which it believes are substantially under-researched compared to larger cap stocks. ● AXA is expanding its €3bn smart beta range with the launch of the AXA WF Global SmartBeta Equity, a Luxembourg-domiciled Sicav. ● BlackRock’s ETF arm, iShares, has created a range of five ultra-short and short-duration bond ETFs designed as alternatives to money market funds. The ETFs, which are the first passive products in this space in Europe, carry total expense ratios between 20 and 45bp. ● FinEx has launched a physically backed gold ETF on the Irish Stock Exchange, which will be cross-listed in Moscow in a bid to drive the development of the Russian ETF industry. Continue reading
Psychotic headless chickens selling worthless property
Watch the full Keiser Report E499: http://youtu.be/3GHnEpp1B3A In this episode of the Keiser Report, Max Keiser and Stacy Herbert, discuss the triangle of fr… Continue reading
