Reverse Mortgage News » equity release http://www.mortgagewiser.com/reverse-mortgage-news The nuances of reverse mortgages, loans, rates and lenders Mon, 08 Feb 2010 18:19:11 +0000 http://wordpress.org/?v=2.8.2 en hourly 1 What is the difference between a reverse mortgage and equity release? http://www.mortgagewiser.com/reverse-mortgage-news/2009/07/what-is-the-difference-between-a-reverse-mortgage-and-equity-release/ http://www.mortgagewiser.com/reverse-mortgage-news/2009/07/what-is-the-difference-between-a-reverse-mortgage-and-equity-release/#comments Wed, 29 Jul 2009 10:03:14 +0000 admin http://www.mortgagewiser.com/?p=9 If you have ever been across the pond to the UK, you might have heard of the latest industry popping up known as equity release.What is equity release and what relevance does it have to reverse mortgages?

Well for those not in the know, a reverse mortgage is exactly the same concept as a lifetime mortgage, the mainstay of the equity release market.

The term ‘reverse’ comes from the fact that anyone seeking this kind of mortgage is a property owner already so is not looking to buy. Instead they are seeking to release the tied up equity in their home, effectively going back down the equity ladder.

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