Equity Release

Reports from the Bank of England this months states that equity withdrawal ( equity release through a remortgage ) has fallen sharply by almost two thirds. According to the new figures released, equity withdrawal has fallen from almost 14bn during the first quarter of 2007 to just 5bn in the same period this year, the [...]

It was announced that Northern Rock are to sell their equity release portfolio to JP Morgan today. Although Northern Rock are going to run of the equity release portfolio on behalf of JP Morgan, the sale will help them to pay back some of the money that they borrowed from the Bank of England.
Northern Rock’s [...]