The comments here are from our readers and do not necessarily reflect the views of Mortgage Solutions and Specialist Lending Solutions.
This week’s first comment is in response to the article: RPSA retracts spray foam guidance pending review
Andy Wilson said: “For now, the recommendation has to be if you’ve got spray foam installed and need mortgage or equity release finance, get it removed by a competent firm, and if you are thinking of getting it installed, don’t.
“Yes, the product is an effective insulator, but the damage it can cause cannot be determined unless it is then mostly ripped out.”
‘Industry word salad cannot go unchallenged’
This week’s second comment is in response to the piece: Rate rises and the unique nuances of equity release – Rozario
Angela Pain said: “The author asserts that flexibility, choice and consumer safeguards are as important as rates when it comes to choosing a lifetime mortgage. This sort of industry word salad cannot go unchallenged.
“Business levels are falling off a cliff because those who can tighten their belts will do so. Who wants to see their borrowing morph into a debt four times the size in less than 20 years. It is the equivalent of saying never mind the colour, feel the width.
“And the illusion of choice. What choice really exists? Equity release contracts are pretty well identical and rates are the main driver of research. For all but the desperate, rates matter most. You can’t sell rotten eggs, and release has the stench of sulphide.”
‘Collective cheer’ from equity release as gilt yields fall
This week’s third comment is in response to the article: Pound rebounds and gilt yields retreat as Sunak looks set to land PM job
Andy Wilson said: “A collective cheer from the equity release community as longer-term gilt rates keep on falling. Long may it last.
“I have a long list of potential clients who are hanging fire for better interest rate news, and it will only begin with lower gilt rates.”
