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Will you have to rely on equity release? – Money Minute #97

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Did you know that the word Mortgage derives from the French word “mort” which literally translates as “loan until death”. Morbid, isn’t it?

In our latest segment of “Money Minute,” we look at how the concept of life-time mortgages are gaining traction. Recent statistics show that since 1991, more than 30 billion pounds of equity has been released from bricks and mortar to help fund pensions. However, an even more worrying statistic, is a very small amount of people understand what a “life-time mortgage is”.

With various schemes and products available, what ever you choose, you’ll be joining the SKI club (spending kids inheritance).