This page is where you’ll be able read our IFA developments for the over 55s.
Adding value to equity release advice
At free2 we’re working closely with later life financial advisers in our mission to help them deliver even more value to their clients. By combining the Over 55s Unsecured Loan which we’ve helped bring to market, with a lifetime mortgage, we have opened up the potential for new advice opportunities.
Clearing an interest only mortgage without remortgaging
In the UK there’s an estimated 1.185 million borrowers with interest only mortgages coming up for repayment. A number of these people will have insufficient funds put aside to repay the loan. But what can be done with a client who needs to clear their interest only mortgage who doesn’t want to clear their debts with a lifetime mortgage?
Avoiding the tax charge of a flexi pension drawdown
At free2 we’re bringing new choices and delivering greater value to the financial advice market. By combining the Over 55s Unsecured Loan for which we act as credit brokers, with other later life financial products.
Here’s a recent client case study which compares raising a large capital sum through withdrawing funds from a flexible drawdown pension, with raising the same amount of money by taking out an Over 55s Unsecured Loan.
Topping up the maximum equity release advance available
When a client is looking to raise a significant lump in later life, a good financial adviser will explore the motivations behind raising finance alongside the range of options that may be available to their client. Such as, raiding their emergency fund, dipping into a flexible pension, cashing in their investments, or even downsizing.
But, having done all this, what happens if the numbers still don’t add up?