With a record number of people facing financial difficulty, many are looking for alternative ways to free themselves from debt.
Recent figures from Key Retirement Solutions have revealed that almost one third of people over the age of sixty-five enter retirement with an average of £25,000, so solutions are being sought to alleviate this debt. Equity Release enables clients to acquire a capital lump sum or additional monthly income from their home but still live in the property. The products enable indebted individuals to continue living in their home, but debt free. Norton Broker Services has made the service available to clients through their ‘One Stop Shop’, to help not only homeowners who are over fifty-five but also other demographics who are struggling with debt problems. There are currently two main types of Equity Release products available on the market, ‘Lifetime Mortgage Plans’ and ‘Home Reversion Plans’, both of these products are regulated by the Financial Services Authority. Norton Broker Services has launched an Affinity Partnership with a specialist Equity Release Advisory Company making ‘Lifetime Mortgage Plans’, and ‘Home Reversion Plans’ available to their clients.Norton can introduce clients to a number of companies who offer these products, and provide appropriate solutions to client’s needs.
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