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May 24, 2019

Equity Release Scheme-An Analysis

The number of new product options offered by members of The Council grew by 34% in the year to August 2017, with an additional 20 products coming onto the market, taking the number of product options available to 78. By contrast, just 24 product options existed in 2007, representing an increase of 225% in the past decade.

In a further sign that the sector is evolving more quickly, the last three years have seen a marked increase in product innovation. Between 2014 and 2016, an additional 31 new product options became available. Combined with the addition of 20 new products since 2016, a total of 51 new products have come to market since 2014.Look at this website Check This Out.

As Council member products, all 78 options adhere to the same safeguards and rigorous product Standards, a demonstration that product innovation has been accompanied by a continued commitment to customer protections.

This rapid expansion in product options comes as growth in the wider market has continued at pace. Total lending reached a record of almost 1.4bn in H1 2017, up from 0.9bn in H1 2016. If current trends continue, annual lending will reach 3bn for the first time in 2017, whereas ten years ago annual lending was just 1.2bn.

Growing equity release scheme means greater flexibilities

As of August 2017, over two thirds (68%) of product options allow customers to make ad-hoc repayments free from early repayment charges to help reduce interest accrued over the lifetime of the loan.

Other increasingly common product features are drawdown, which allows housing wealth to be withdrawn in stages, and inheritance protection, which enables the ringfencing of a guaranteed minimum amount of housing wealth to leave to loved ones.

Almost half (45%) of plans also include downsizing protection, which gives customers the option to repay their loan early after a period of time with no early repayment charge, if they choose to downsize to a smaller property and repay the loan in full.

Another new product feature is improved interest payment flexibilities. One in ten products now allows for full or partial interest payments to be made each month, which either stops or reduces interest being rolled up into the loan with no risk of the customer defaulting on their payments as they can switch to roll-up arrangements at any point.

Competition driving rates down

Average equity release rates fell again between January and July 2017, as greater competition in the market continues to apply downward pressure on pricing. A fall of 15 basis points (bps) took the average rate down to 5.30%, from 5.45%.

On an annual basis, there has been a fall of 66bps from 5.96% in July 2016. This compares favourably with other personal borrowing products. Only 5k personal loans have seen a larger fall in average interest rates over the same period, falling 123 bps from 9.27% to 8.04%*. In the eighteen months since January 2016, average equity release product rates are down 90bps, from 6.20%.

Increased demand from 75-84 year olds

The average age of new equity release customers dropped marginally in the first half of 2017 across both drawdown plans (from 71.7 to 71.5) and lump sum plans (from 68.2 to 68.0). Both average ages remain broadly unchanged from the first figures recorded in H1 2014 when tracking began.

Barbells vs Dumbbells-An Overview

When it comes to lifting there are a few different philosophies out there. Some people only use barbell type exercises. Others out there swear by only using dumbbells. The truth of the matter is that for the best results you should use combination of barbells and dumbbells. There are few exercises that allow you the option of using either barbell or dumbbell. There are a few different ways that you can do a bench press. The first thing that you are going to have to decide on is whether you want to use a barbell with weights on it or dumbbells. Each has their own benefits, however, dumbbells are good to use because they work the isolator muscles more than a barbell does. Once you have decided what kind of weights you’re going to use to lift with, you will now have to decide if you want to do a normal bench press where you’re lying flat on your back or the other two versions of a bench press. The other kinds of bench presses are inclined and declined bench press. An incline bench press is when you are sitting in a semi upright position while still using your chest to lift the weights. A declined bench press is when you are lying down in a declined position using your chest to lift the weights. Do you want to learn more? Visit

 Squats are another example of a lifting exercise in which you can use a barbell or dumbbells. The problem with using dumbbells for your squats is that you typically won’t be able to lift as heavy with them. The reason for this is that you will not be physically able to hold onto the dumbbells long enough to get a good workout in. A barbell lets you be able to squat more because you don’t have to physically hold onto it. The barbell rests across your upper back during a squat. A standing upright row is another example of an exercise where you can use a barbell or dumbbells. When you use a barbell to do an upright row you’ll work out both sides of your back at the same time. When you use a dumbbell you have the option of working out both sides of your back at the same time or one side at a time. If you work out one side of your back at a time you can make sure that you are working out both sides equally.