Equity release is a way of retaining the use of your home or object of capital value whilst obtaining a lump sum by using the value of your house. The income provider will be repaid upon your death by the sale of your house.
The Financial Conduct Authority is concerned that a substantial number of mortgage borrowers are taking out interest-only mortgages and have no plans in place at the end of the mortgage term to pay off the balance. To solve this problem, they are using equity release to pay off their mortgages. In 2017, equity release was used in this way by 27 per cent of customers, suggesting that debt in later life is becoming the norm.
With customers more relaxed about using their assets to pay off debts, financial advisers need to take a more rounded view of their clients’ assets when giving …
Tackling employment equity in the workplace with no clear understanding of it can be a bad move. In South Africa, it could be catastrophe for a business. This is because the Employment Equity Act has come into effect, making it illegal to not comply with the wishes of the government in balancing the gap left behind by the apartheid era. The onus should fall on a select few who will lead the charge in implementing these principles into the business. They should be made up of supervisors, managers, directors or human resource management personnel. Attending an employment equity training programme will give them the head start that they need. Besides the theoretical knowledge that they will leave with, the practical lessons learned will prove a lifeboat for companies, in meeting with the guidelines set about from the government. Employment equity training courses can be attended anywhere in the country. A …