Why using a home as a cash machine can pay off
18 March 2017
Older people are increasingly using their homes as cash machines as the interest rates fall on equity release loans. The entry of Legal & General into the market has sparked a rate war and the Scottish Building Society is now offering a fixed rate of 2.74 per cent — two years ago a rate of 8 or 8.5 per cent was standard. The same lender also has a variable rate loan of 1.99 per cent…..