{"id":8497,"date":"2023-03-13T09:39:50","date_gmt":"2023-03-13T09:39:50","guid":{"rendered":"https:\/\/www.healthnews.ie\/?p=8497"},"modified":"2023-03-16T08:34:07","modified_gmt":"2023-03-16T08:34:07","slug":"lifetime-loans-are-growing-in-popularity-among-older-people","status":"publish","type":"post","link":"https:\/\/www.healthnews.ie\/neurology\/lifetime-loans-are-growing-in-popularity-among-older-people\/","title":{"rendered":"Lifetime loans are growing in popularity among older people"},"content":{"rendered":"\n<div style=\"background-color:#f2f2f2;color:#32373c\" class=\"wp-block-atomic-blocks-ab-profile-box round ab-has-avatar ab-font-size-14 ab-block-profile ab-profile-columns\"><div class=\"ab-profile-column ab-profile-avatar-wrap\"><div class=\"ab-profile-image-wrap\"><figure class=\"ab-profile-image-square\"><img decoding=\"async\" class=\"ab-profile-avatar wp-image-9950\" src=\"https:\/\/victoria.mediaplanet.com\/app\/uploads\/sites\/130\/2023\/03\/John-Moriarty.jpg\" alt=\"\"\/><\/figure><\/div><\/div><div class=\"ab-profile-column ab-profile-content-wrap\"><h2 class=\"ab-profile-name\" style=\"color:#32373c\">John Moriarty<\/h2><p class=\"ab-profile-title\" style=\"color:#32373c\">CEO, Spry Finance<\/p><div class=\"ab-profile-text\"><\/div><ul class=\"ab-social-links\"><\/ul><\/div><\/div>\n\n\n\n<p><em>As people live longer with a range of health conditions, lifetime loans are increasingly seen as a safe way to afford their \u2014 and their loved ones\u2019 \u2014 futures.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p><a href=\"https:\/\/www.spryfinance.ie\/\" target=\"_blank\" rel=\"noreferrer noopener\">Spry Finance<\/a> is the only lender providing lifetime mortgages in Ireland. CEO<strong> <\/strong>John Moriarty says: \u201cWe are providing financial choice for customers in the 60-plus age cohort to use the wealth that they have in their homes to assist them in the process of having a comfortable and healthy retirement. &nbsp;<\/p>\n\n\n\n<p>\u201cWe do that in a very considered and transparent way. Recognising that they should talk to all their stakeholders, including their families and their advisers.\u201d&nbsp;<\/p>\n\n\n<div id=\"healt-3617700327\"><div class=\"healt-adlabel\">Advertisements<\/div><div id=\"healt-1178714016\" style=\"margin-top: 30px;margin-bottom: 30px;margin-left: auto;margin-right: auto;text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.spryfinance.ie\/\" rel=\"noopener\" class=\"a2t-link\" target=\"_blank\" aria-label=\"Spry desk\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.eu-north-1.amazonaws.com\/cdn-site.mediaplanet.com\/app\/uploads\/sites\/94\/2023\/03\/07210419\/Spry-desk.jpg\" alt=\"\"  width=\"750\" height=\"250\"  style=\"display: inline-block;\" \/><\/a><\/div><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-a-lifetime-loan\"><strong>What is a lifetime loan?<\/strong>&nbsp;<\/h2>\n\n\n\n<p>A <a href=\"https:\/\/www.spryfinance.ie\/\" target=\"_blank\" rel=\"noreferrer noopener\">lifetime loan<\/a> is\u202fa mortgage loan secured against your home. Borrowers do not sell a share of their homes. They borrow a cash sum using their house as security. This type of loan is designed to last for the rest of their life but may be paid off early. &nbsp;<\/p>\n\n\n\n<p>Unlike a fixed-term mortgage, there are no monthly fees and there is no negative equity. Instead, interest on a borrower\u2019s loan accrues and is paid off at the end of their lives. Customers can choose to pay the monthly interest but are not obliged to.&nbsp;<\/p>\n\n\n\n<p>The average age of a Spry customer is 72, and the median amount they borrow for a Lifetime Loan is \u20ac75,000.&nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>We have a robust vulnerable customer <br>policy and continuously work hard to <br>ensure that our products, services and <br>advice are flexible, accessible and inclusive.<\/p><\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Customer-centric process in supporting care <\/strong>&nbsp;<\/h2>\n\n\n\n<p>Consumer research, undertaken on behalf of Spry Finance last autumn, found that 19% of people were interested in taking out a lifetime loan to afford care at home. &nbsp;<\/p>\n\n\n\n<p>\u201cThis ranges from assisted living and personal care to long-term illness, specialised and palliative care,\u201d explains Moriarty. &nbsp;<\/p>\n\n\n<script type=\"text\/plain\" data-tcf=\"waiting-for-consent\" data-id=\"8507\" data-bid=\"94\" data-no-track=\"impressions\">PGRpdiBpZD0iaGVhbHQtMzUwMDY1MTc4OSIgc3R5bGU9Im1hcmdpbi10b3A6IDIwcHg7bWFyZ2luLWJvdHRvbTogMjBweDttYXJnaW4tbGVmdDogYXV0bzttYXJnaW4tcmlnaHQ6IGF1dG87dGV4dC1hbGlnbjogY2VudGVyOyI+PGEgZGF0YS1uby1pbnN0YW50PSIxIiBocmVmPSJodHRwczovL3d3dy5zcHJ5ZmluYW5jZS5pZS8iIHJlbD0ibm9vcGVuZXIiIGNsYXNzPSJhMnQtbGluayIgdGFyZ2V0PSJfYmxhbmsiPjxwIHN0eWxlPSJjb2xvcjogIzFmNDVmYzsiPjxzcGFuIHN0eWxlPSJ0ZXh0LWRlY29yYXRpb246IHVuZGVybGluZTsiPkZpbmQgb3V0IG1vcmUgYWJvdXQgTGlmZXRpbWUgTG9hbnMuPC9zcGFuPjwvcD4gPC9hPjwvZGl2Pg==<\/script>\n\n\n<p>&#8220;We have a customer-centric process where we put the customer needs and decision-making at the heart of our process. That&#8217;s why we take the time to meet face-to-face with our customers \u2014 to ensure they understand our product and process; and we encourage them to include their family.&#8221; &nbsp;<\/p>\n\n\n\n<p>He concludes: &#8220;We have a robust vulnerable customer policy and continuously work hard to ensure that our products, services and advice are flexible, accessible and inclusive.\u201d&nbsp;<\/p>\n\n\n\n<div style=\"color:#32373c;background-color:#4ab9a8\" class=\"wp-block-atomic-blocks-ab-notice ab-font-size-16 ab-block-notice\" data-id=\"5e5432\"><div class=\"ab-notice-text\" style=\"border-color:#4ab9a8\"><p>To arrange a meeting in person, call 01 5822580\u00a0<\/p><\/div><\/div>\n\n\n<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<html><body><div style=\"text-align:center\" class=\"wp-block-atomic-blocks-ab-button ab-block-button\"><a href=\"https:\/\/www.spryfinance.ie\/\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"ab-button ab-button-shape-rounded ab-button-size-medium fb-pixel\" style=\"color:#ffffff;background-color:#615de5\">Click here to learn more<\/a><\/div>\n<\/body><\/html>\n\n\n<div id=\"healt-2737458103\"><div class=\"healt-adlabel\">Advertisements<\/div><div id=\"healt-5952859\" style=\"margin-top: 30px;margin-bottom: 30px;margin-left: auto;margin-right: auto;text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.spryfinance.ie\/\" rel=\"noopener\" class=\"a2t-link\" target=\"_blank\" aria-label=\"Spry desk\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.eu-north-1.amazonaws.com\/cdn-site.mediaplanet.com\/app\/uploads\/sites\/94\/2023\/03\/07210419\/Spry-desk.jpg\" alt=\"\"  width=\"750\" height=\"250\"  style=\"display: inline-block;\" \/><\/a><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>As people live longer with a range of health conditions, lifetime loans are increasingly seen as a safe way to afford their \u2014 and their loved ones\u2019 \u2014 futures. Spry Finance is the only lender providing lifetime mortgages in Ireland. CEO John Moriarty says: \u201cWe are providing financial choice for customers in the 60-plus age &hellip; <a href=\"https:\/\/www.healthnews.ie\/neurology\/lifetime-loans-are-growing-in-popularity-among-older-people\/\">Continued<\/a><\/p>\n","protected":false},"author":91,"featured_media":8498,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[128],"tags":[5802],"class_list":["post-8497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-neurology","tag-living-with-neurological-conditions"],"acf":[],"featured_image_src":"https:\/\/s3.eu-north-1.amazonaws.com\/cdn-site.mediaplanet.com\/app\/uploads\/sites\/94\/2023\/03\/07210420\/GettyImages-1264328274-600x400.jpg","featured_image_src_square":"https:\/\/s3.eu-north-1.amazonaws.com\/cdn-site.mediaplanet.com\/app\/uploads\/sites\/94\/2023\/03\/07210420\/GettyImages-1264328274-600x600.jpg","author_info":{"display_name":"henryphillips","author_link":"https:\/\/www.healthnews.ie\/author\/henryphillips\/"},"vicky_category_order":[{"category_id":128,"order":"4"}],"vicky_index_order":"","_links":{"self":[{"href":"https:\/\/www.healthnews.ie\/wp-json\/wp\/v2\/posts\/8497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.healthnews.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.healthnews.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.healthnews.ie\/wp-json\/wp\/v2\/users\/91"}],"replies":[{"embeddable":true,"href":"https:\/\/www.healthnews.ie\/wp-json\/wp\/v2\/comments?post=8497"}],"version-history":[{"count":5,"href":"https:\/\/www.healthnews.ie\/wp-json\/wp\/v2\/posts\/8497\/revisions"}],"predecessor-version":[{"id":8509,"href":"https:\/\/www.healthnews.ie\/wp-json\/wp\/v2\/posts\/8497\/revisions\/8509"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.healthnews.ie\/wp-json\/wp\/v2\/media\/8498"}],"wp:attachment":[{"href":"https:\/\/www.healthnews.ie\/wp-json\/wp\/v2\/media?parent=8497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.healthnews.ie\/wp-json\/wp\/v2\/categories?post=8497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.healthnews.ie\/wp-json\/wp\/v2\/tags?post=8497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}