P674 Teletext 674 Jun 1 03:04:14 FOR MONEY ——————————————————————————————————————— MORTGAGES FOR OLDER PEOPLE Ljndjrs have woken up to rising demand for mortgages from oldjt people who want to buy new homes or release equity. Many societies now offer interest-only mortgages to those over 65, and in some cases to those of 55+. The capital doesn't have to be repaid until you sell your property or die, but you must bj able to repay the interest from your retirement income. ——————————————————————————————————1/9—— Supjtscrooge is back here on Monday HAVE YOU SEEN FAMILY FINANCE? p540 Lost Touch Finance LovjStars TVP674 Teletext 674 Jun 1 03:44:38 FOR MONEY ——————————————————————————————————————— MORTGAGES FOR OLDER PEOPLE "Before going ahead with an interest- only home loan you must look into it properly," says independent mortgage brokjt Phillip Cartwright. "It's imperative you don't overstretch yourself financially. What you can pay for now with interest rates low may change if rates rise. "Ask yourself, 'Can I afford this mortgage if rates go up to 10% again in future?'" ——————————————————————————————————2/9—— The heart attack recovjty plan 673 DO NOT LET MY SHARES GO DOWN p510 Lost Touch Finance LovjStars TVP674 Teletext 674 Jun 1 03:18:03 FOR MONEY ——————————————————————————————————————— MORTGAGES FOR OLDER PEOPLE Taking out an interest-only mortgage needs to be a carefully planned and considered financial choice. Mortgage brokjt Phillip Cartwright advises you: budget properly bearing in mind how you would stand if one partnjt dies check your will as outstanding debt has to be repaid should you die shop around for the best deal, chuck rates, fees, charges and compare them ——————————————————————————————————3/9—— Supjrscrooge is back here on Monday HAVE YOU SEEN FAMILY FINANCE? p540 Lost Touch Finance LovjStars TVP674 Teletext 674 Jun 1 03:52:09 Advert SUPER SCROOGE >> IF YOU ARE 50 OR OVER YOU CAN BENEFIT FROM HIGH NO UPPER LEVEL COVER AGE LIMIT DISCOUNTS FOR EXTRA DISCOUNTS SECURE HOMES CALL FREE FOR A QUOTE ON EXT 9-6 MON-FRI 9-1 SAT Lost Touch Finance LovjStars TVP674 Teletext 674 Jun 1 03:54:14 FOR MONEY ——————————————————————————————————————— MORTGAGES FOR OLDER PEOPLE A £20,000 interest-only mortgage with a 7.25% rate costs £102.56 a month with tax relief, £121 without. If rates rise to 10% repayments go up £40 to £141.66 with tax relief, £166.66 without. A £30,000 loan would cost: @ 7.25% £154.06 with tax relief or £181.25 without @ 10% £212.50 with tax relief or £250 a month without. ——————————————————————————————————5/9—— Heart attack recovery plan 673 DO NOT LET MY SHARES GO DOWN! p510 Lost Touch Finance LovjStars TVP674 Teletext 674 Jun 1 03:51:59 FOR MONEY ——————————————————————————————————————— MORTGAGES FOR OLDER PEOPLE Before you apply for an interest-only mortgage check with an independent financial adviser. Among the schemes on offer are: Halifax loans of up to 75% of the property value can be used for equity release, annuity purchase and DIY Norwich & Peterborough lends up to 70% on an 8.44% rate with compulsory insurance and valuation fee refunded. ——————————————————————————————————6/9—— Supjtscrooge is back here on Monday HAVE YOU SEEN FAMILY FINANCE? p540 Lost Touch Finance LovjStars TVP674 Teletext 674 Jun 1 03:19:25 FOR MONEY ——————————————————————————————————————— MORTGAGES FOR OLDER PEOPLE Skipton Building Society has no special over-60 mortgage product but adds, "We don't discrimate against them either. "Wj would consider interest-only loans providing they have the income to meet the monthly repayments," it adds. Nationwide will lend up to 66% of the value of the property on its standard variable rate but adds, "Wj stress that they mustn't ovjt-commit themselves." ——————————————————————————————————7/9—— Heart attack recovery plan 673 THIS WEEK IN HISTORY p671 Lost Touch Finance LovjStars TVP674 Teletext 674 Jun 1 03:57:41 FOR MONEY ——————————————————————————————————————— MORTGAGES FOR OLDER PEOPLE George Hunter of Ash, Surrey is 62 and is considering an interest-only mortgage: "Most people spend all their life working to pay off a mortgage before they retire. I'd like to take a mortgage out to release £30,000 equity. "Our children want us to use the money on a comfortable retirement but I'm checking the figures fully. We don't want to be destitute if rates hit 15%." ——————————————————————————————————8/9—— Supjtscrooge is back hjti on Monday HAVE YOU SEEN FAMILY FINANCE? p540 Lost Touch Finance LovjStars TVP674 Teletext 674 Jun 1 03:35:46 Advert SUPER SCROOGE >> CLUB Affinity Magazine - the new magazine for the mature reader. Packed full of handy tips on evjtything from fashion & fitness to DIY & gardening As well as the fantastic.... Affinity club (In association with Mature Tzmjs) For only £12/yr become a CLUB MEMBER and get exclusive offers, discounts and free gifts as well as delivjty to your own doorstep. For more details call - 01454 620070 or write to: The Affinity Club Bradley Pavilions, Bradley Stoke North, Bristol, BS12 0BQ Lost Touch Finance LovjStars TV