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Loans Latest News Equity release slowing
Loans Latest News Equity release slowing Equity release slowing
The equity release market is now growing at its slowest rate for two years, it has been revealed.
Figures released by the Council of Mortgage Lenders (CML) have shown that the market is now slowing down, and is significantly weaker than during the first six months of 2004.
The CML recorded that it lent £492 million in the first six months of 2005, with the market maintaining only moderate growth compared to the same period a year ago.
Jackie Bennett from the CML said: "Today's figures demonstrates how lenders, intermediaries and consumers are taking a cautious and responsible approach to opening up the equity release market."
She added: "Our results show that the equity release market is still growing although at a slower rate than in previous years."
Figures released by the Council of Mortgage Lenders (CML) have shown that the market is now slowing down, and is significantly weaker than during the first six months of 2004.
The CML recorded that it lent £492 million in the first six months of 2005, with the market maintaining only moderate growth compared to the same period a year ago.
Jackie Bennett from the CML said: "Today's figures demonstrates how lenders, intermediaries and consumers are taking a cautious and responsible approach to opening up the equity release market."
She added: "Our results show that the equity release market is still growing although at a slower rate than in previous years."
Tuesday, 09 August 2005 17:22
Top 5 Personal Loans
|
Loan |
Representative APR |
Min Loan |
Max Loan |
Min Term |
Max Term |
Apply |
|---|---|---|---|---|---|---|
| View Full Table > | ||||||
 |
6.8%
|
£7,500
|
£14,999
|
1 Year
|
5 Years
|
|
| Representative Example: £7500 borrowed over a period of 5 years at 6.8% (fixed) equals monthly repayments of £148 and a total amount repayable of £8,868. There are no other charges included in the total charge for credit. | ||||||
 |
8.2%
|
£5,000
|
£7,499
|
1 Year
|
7 Years
|
|
| Representative Example: £5000 borrowed over a period of 5 years at 8.2% (fixed) equals monthly repayments of £102 and a total amount repayable of £6,112. There are no other charges included in the total charge for credit. | ||||||
 |
6.1%
|
£7,500
|
£14,999
|
1 Year
|
10 Years
|
|
| Representative Example: £7500 borrowed over a period of 5 years at 6.1% (fixed) equals monthly repayments of £145 and a total amount repayable of £8,721. There are no other charges included in the total charge for credit. | ||||||
|
|
8.1%
|
£15,001
|
£25,000
|
1 Year
|
7 Years
|
|
| Representative Example: £15001 borrowed over a period of 5 years at 8.1% (fixed) equals monthly repayments of £305 and a total amount repayable of £18,293. There are no other charges included in the total charge for credit. | ||||||
|
|
6.1%
|
£7,500
|
£15,000
|
1 Year
|
7 Years
|
|
| Representative Example: £7500 borrowed over a period of 5 years at 6.1% (fixed) equals monthly repayments of £145 and a total amount repayable of £8,721. There are no other charges included in the total charge for credit. | ||||||
