Don't let 公正，普通株主権 解放（する） turn into a 罠（にかける）: As £4billion is taken out of houses in a year, how to 避ける the 危険 of 引き裂く-offs

  • 'Unscrupulous' 会社／堅いs are 砲撃するing older borrowers with email adverts?
  • They tempt them to （問題を）取り上げる the large 貸付金s 関わりなく their circumstances
  • ?The FCA 恐れるs some homeowners are 打ち明けるing the cash too 早期に

By Samantha Partington For The Daily Mail

Updated:

Baby boomers are now （警察の）手入れ，急襲ing the cash locked up in their homes at a 記録，記録的な／記録する level, but 専門家s 警告する a sting in the tail could を待つ.

Older homeowners borrowed nearly £4 billion from the value of their homes last year to 上げる their 退職 基金s ― up nearly a third on 2017 and the 同等（の） of £11 million a day.

But the いわゆる 公正，普通株主権 解放（する） 貸付金s often come with extortionate get-out 告発（する），告訴（する）／料金s and can blow a 抱擁する 穴を開ける in your children's 相続物件.

Older homeowners borrowed nearly £4 billion from the value of their homes last year to boost their retirement funds ― up nearly a third on 2017 and the equivalent of £11 million a day

Older homeowners borrowed nearly £4 billion from the value of their homes last year to 上げる their 退職 基金s ― up nearly a third on 2017 and the 同等（の） of £11 million a day

Money Mail can 明らかにする／漏らす:

  • 'Unscrupul ous' 会社／堅いs are 砲撃するing older borrowers with email adverts ― tempting them to （問題を）取り上げる the large 貸付金s 関わりなく their personal circumstances.
  • The 財政上の Ombudsman says ありふれた （民事の）告訴s surround hefty 早期に 返済 告発（する），告訴（する）／料金s, the final 返済 法案 and the suitability of the 製品 itself. Two thirds of （民事の）告訴s come from 親族s.
  • The 財政上の 行為／行う 当局 恐れるs some homeowners are 打ち明けるing the cash too 早期に ―主要な to snowballing 利益／興味 告発（する），告訴（する）／料金s that can see the size of the 負債 二塁打 in 14 years.
  • An 予期しない change of circumstance, such as 離婚, can leave an 公正，普通株主権 borrower needing to move home ― meaning they will be 軍隊d to 支払う／賃金 off the 負債, along with 利益／興味 and a hefty 早期に 返済 料金 of up to 25 per cent of the value of the 貸付金.

公正，普通株主権 解放（する） 許すs over-55s to 接近 the cash tied up in their homes as a 税金-解放する／自由な lump sum or in 正規の／正選手, smaller instalments.?

No 月毎の 返済s are 要求するd and, instead, the 負債 and 利益／興味 is plucked from the value of your 所有物／資産／財産 when it i s sold after the 生き残るing homeowner dies or goes into long-称する，呼ぶ／期間／用語 care.

A £50,000 貸付金 taken against a £500,000 house will cost £24,000 over 10 years if a 4 pc 率 of 利益／興味 is 告発（する），告訴（する）／料金d ― leaving your loved ones £426,000 of the home's value.

Susan Hodges, 68, took out a £37,000 公正，普通株主権 解放（する） 貸付金 on her £175,000 home when she was 57 to 取って代わる her kitchen and windows, buy a new car and take her three daughters on a holiday to the South of フラン.

Broken dreams: Susan Hodges feels caught by her equity release borrowings

Broken dreams: Susan Hodges feels caught by her 公正，普通株主権 解放（する） borrowings

The 動きやすい hairdresser, from Weston-最高の-損なう, Somerset, had hoped to move house when she retired to be closer to her family in Exeter.?

But the 条件 of her 公正，普通株主権 貸付金 changed when her provider was bought out by another 会社／堅い.

以前, she would have had three months to 転換 the 公正，普通株主権 負債 over to another 所有物／資産／財産 after selling her home.

But the new 貸す人 now 主張するs the 負債 can only be t ransferred if she sells her house and buys a new 所有物／資産／財産 on the same day.

さもなければ, she will have to 支払う／賃金 off the 貸付金 in 十分な すぐに, which is now £75,000 after 利益／興味, 同様に as a £10,000 早期に 返済 料金.

This will leave her with just £90,000 to buy her next home. She says: 'I planned to move house in the 未来, but I can't 直面する it now, it is too stressful.'

On 審理，公聴会 her 貸付金 had been passed on to a new 会社／堅い, Susan says: 'I felt helpless to do anything about it. They took 完全にする advantage of the 状況／情勢 and changed the 支配するs which I didn't think they would be 許すd to do. It's 全く 不公平な.'

Many older homeowners, who have seen the value of their houses ロケット／急騰する, are turning to 公正，普通株主権 解放（する） as they are unable to sell-up and downsize 借りがあるing to a 沈滞した market.

And a 減少（する） in 利益／興味 率s for the 貸付金s in 最近の years has seen the 人気 of the 計画（する）s にわか景気. The lowest 率 on the market is now below 4pc, によれば 分析家s Moneyfacts.

But charity Age UK says it is 関心d the 年輩の are 存在 圧力d to 調印する up to 公正，普通株主権 貸付金s with unsolicited emails.

Caroline Abrahams, charity director, says: 'It's a 抱擁する worry that unscrupulous characters are playing 急速な／放蕩な and loose with the lives of older people looking for ways to 改善する their 財政上の 状況／情勢.

'Many older people are 資産 rich, cash poor, and may be tempted to consider 公正，普通株主権 解放（する） as a way of raising money to help 緩和する 財政上の 圧力s in later life.'

A £50,000 loan taken against a £500,000 house will cost £24,000 over 10 years if a 4 per cent rate of interest is charged ― leaving your loved ones £426,000 of the home's value

A £50,000 貸付金 taken against a £500,000 house will cost £24,000 over 10 years if a 4 per cent 率 of 利益／興味 is 告発（する），告訴（する）／料金d ― leaving your loved ones £426,000 of the home's value

Gary Webster, an 助言者 for 公正，普通株主権 解放（する） Supermarket, says 打ち明けるing money in your home is not the 権利 決定／判定勝ち（する） for everyone.

They take borrowers through other 財政上の 選択s ― such as using their 貯金, asking family for help, taking on a lodger, downsizing, 適用するing for home 改良 認めるs or 捜し出すing 利益 entitlements ― before recommending a lifetime 貸付金.

Personal 貸付金s and 利益／興味-解放する／自由な credit cards can often be a better 解答 if a borrower needs only a little extra money over a short period.

Joy Wright, 67, and husband Graham, 64, took £50,000 from their £270,000 terrace in Mumbles, South むちの跡s, after Graham was 診断するd with bowel 癌 and 苦しむd a hernia.

They used the cash to 返す their mortgage 負債, 上げる their 月毎の income and they are planning home 改良s.

Joy, a former hotel 従業員, says they first discussed it with their family, who were supportive. She says: 'We 港／避難所't looked 支援する since.'

一方／合間, 助言者 David Forsdyke, of 接近 公正，普通株主権 解放（する）, says it is 決定的な borrowers get their family 伴う／関わるd in any 公正，普通株主権 解放（する） 決定／判定勝ち（する）. He 追加するs: 'It can lead to 失望 when the 貸付金 has to be repaid from their 相続物件.'

A large lump sum in 公正，普通株主権 can also 損失 your （人命などを）奪う，主張する to means-実験（する）d 利益s such as 年金 Credits.

Nearly 50 per cent of those who choose 公正，普通株主権 解放（する） use the money to 改善する their home, によれば Canada Life.

Others use it for one-off 購入（する）s such as holidays or cars, while some use it to （疑いを）晴らす their mortgage or help younger 親族s with a 住宅 deposit.

David Burrowes, chairman of the 公正，普通株主権 解放（する） 会議, says anyone thinking of 公正，普通株主権 解放（する） should 捜し出す advice from a qualified and 規制するd 財政上の professional.?

He says: 'It is important that you fully consider your needs now and in the 未来, 同様に as 代案／選択肢s.'

s.partington@dailymail.co.uk

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