Proceeding contribution from David Leslie Taylor (Labour) in the House of Commons on Tuesday, 17 January 2006. It occurred during Adjournment debate on Equity Release Schemes.
Equity Release Schemes
I echo my hon. Friend's praise for the Which? report, and also praise that by Age Concern. He referred to reversion and roll-up mortgages, and the number of reversion mortgages has declined significantly but roll-up mortgages continue to increase in number. Is he concerned that if a 70-year-old widow sold 30 per cent. of her equity she would have a debt that would wipe out the value of the home at the end of just 20 years? Many women today live to the age of 90 or more.
Secondary information
- Type
- Proceeding contribution
- Reference
- 441 c175WH
- Session
- 2005-06
- Chamber / Committee
- Westminster Hall
- Subjects
- Capital Financial services Interest rates Loans Misrepresentation Owner occupation Sales Regulation
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-05 23:30:58 +0000
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