Despite the uncertainty about the economy, many of our clients still wish to improve their home or move. As well as residential mortgages, the IFS Group have lots of experience with buy to let mortgages, mortgages for the self-employed, and remortgages.
“If you would like to know the value of money, go and try to borrow some.”
Benjamin Franklin (1706-1790)
An increasing number of elderly people are turning to equity release mortgages and home income plans to enable them to free up some of the value in their properties. Although many thousands of people are asset rich and cash poor, and these products look attractive, in most circumstances they should be viewed as “a lender of last resort”. Understandably, many older people would prefer not to downsize but rather to release equity in their home instead, it’s crucial that you understand all of the options available to you in the context of your circumstances, particularly during uncertain economic times.
“The outlook for house prices remains uncertain, but with the UK economic recovery expected to remain sluggish in 2012, house price growth is also likely to remain soft with prices moving sideways or drifting modestly lower.”
Robert Gardner, chief economist at Nationwide Building Society 2012