E
Edward chong
Member
Hi, I would like to ask that:
- In general, if an equity release is secured against a property, are there any differences in stringency in the property maintenance requirements (e.g. frequency of insurer inspection, borrowers have to buy a building insurance policy, carry out necessary repairs etc) between a lifetime
mortgage & a home reversion? - For a given property & a given insurer, if a home reversion can relase a bigger share of housing equity than a lifetime mortgage, why is the new business sales volume of the former is dwarfed by the latter? Is there any adviser bias?
- Can insurers amend property suitability criteria for existing contracts? For example, adding more ineligble property types over time?