- Release cash from your home
- No need to make regular monthly payments
- Help your family with the equity you release
- Continue to stay in your home for as long as you like
Towns of the UK where Lifetime Mortgages are popular
- Bridlington
- Lytchett Minster & Upton
- Upton-upon-Severn
- Stamford
- Cinderford
- Kirkbymoorside
- Finchley
- Brierley
- Great Torrington
- Carshalton
- Brentford
- St Helens
- Romsey
- Thornaby-on-Tees
- Corsham
- Workington
- Blackpool
- Whitchurch
- Uxbridge
- Matlock
In addition to Aviva enhanced Lifetime Mortgage, some other lenders can offer better terms but slightly higher rates.
- Bridgewater Equity Release
- Canada Life Lifetime Mortgage
- Stonehaven Lifetime Mortgage
- Nationwide Equity Release
- Lloyds Bank Equity Release Schemes
- Canada Life Equity Release Plans
- Liverpool Victoria LV= Lump Sum Plus Lifetime Mortgage
- Pure Retirement Equity Release
- HSBC Lifetime Mortgage
- NatWest Interest Only Lifetime Mortgage
- Aviva Equity Release Plans
- More2Life Tailored Choice Plan
- Bridgewater Equity Release Plans
- Stonehaven Interest Select Plan
- HSBC Equity Release
- Canada Life Landlord Voluntary Select Plan
- Just Retirement Equity Release Schemes
- More2Life Capital Choice Plus Plan
- Lloyds Bank Equity Release Plans
- Saga Lifetime Mortgage
- More 2 Life Flexi Choice Voluntary Payment Super Lite
Hard to finance property types include properties in poor condition, properties where tenants live in a self-contained part of the property, leasehold properties (England, Wales, Northern Ireland) subject to a lease length of 160 years, properties where the customer is offering only part of the title as security for the loan and properties with leased solar panels.
Common pensioner loan products include TSB lifetime mortgages, HSBC retirement interest only mortgages, Natwest interest only mortgages for people over 70, L&G equity release plans and Nationwide BS interest only mortgages for over 65 year olds.
Hard to finance property types can include difficult roof structures, properties with any externally applied insulation to the walls after construction, properties constructed or converted within the past 10 years, former local authority flats and properties where the flat is accessed via a deck or balcony.
Popular loan to value percentages of Lloyds interest only lifetime mortgages for over 70s, Barclays later life interest only mortgages over 60, Post Office mortgages for people 60 plus, Legal and General mortgages over 70s, RBS interest only mortgages for people over 70 and Nationwide Building Society mortgages for over 70s are 50%, 60% and 65%.
Challenging to finance home titles include properties built or converted into dwellings within the last 10 years , properties with a single annexe or other self-contained part of the property, use of the land and any outbuildings for a small amount of personal commercial use., properties with mobile phone masts which are not within influencing distance of the house and properties which have been built on a previously contaminated land are acceptable provided the result of an environmental search determines the land to be clear of contamination.
Challenging to finance home titles include high service charges, leasehold properties with a short lease, typically less than 70 years, or a defective lease, property is uninhabitable, mundic homes and Reema Hollow panel, Schindler and Hawksley SGS, Stent, Stonecrete, Stour, Tarran, Underdown, Unity and Butterley, Waller, Wates, Wessex, Winget and Woolaway.
How much can I borrow?
You can get 70% of your property’s value. For example, if your house is worth £190000 you can get £133000.
The 1st and 2nd charge lender will want to know if the property is a Detached freehold house or a Leasehold flat and if the resident is an Owner Occupier.
Downsides of Equity Release Plans
Interest-only lifetime mortgages can reduce your estate value. Home reversion schemes may impact entitlements to state benefits. You may need to pay a legal fee and you could have higher rates to pay with some schemes.
It’s usual to discover people looking for lump sum lifetime mortgages, monthly payment lifetime mortgage or lifetime mortgage with flexible drawdown cash release, however, Key Retirement like Aegon are keen to see paperwork to show your personal circumstances in the form of bank statements.
- Lloyds Bank Retirement Mortgages House
- Halifax Retirement Mortgage House
- Lloyds Bank Lifetime Mortgage Calculator
- HSBC Retirement Mortgage Comparison
- Nationwide Equity Release Scheme
- Lloyds Bank
- Natwest Retirement Mortgage Advice
- HSBC Lifetime Mortgage Broker
- Nationwide Retirement Mortgage Interest Only
- Lloyds Equity Release Interest Rates
- Natwest Equity Release Plan
- Santander Lifetime Mortgage Rates 2022
- Santander Retirement Mortgage Providers
- Halifax Lifetime Mortgage Over 55
- Lloyds Retirement Mortgage Uk
- Natwest Lifetime Mortgage Advisers
Business owners who could benefit from equity release estate planning
- Child day-care activities Carnforth
- Manufacture of margarine and similar edible fats Earl Shilton
- Credit granting by non-deposit taking finance houses and other specialist consumer credit grantors Long Sutton
- Wholesale of grain, unmanufactured tobacco, seeds and animal feeds Dunwich
- Manufacture of tubes, pipes, hollow profiles and related fittings, of steel Widnes
- Manufacture of hollow glass Maghull
- Growing of other non-perennial crops Saxmundham
- Renting and leasing of freight air transport equipment Needham Market
- Other software publishing Ludlow
- Tanning and dressing of leather; dressing and dyeing of fur Bury
- Raising of dairy cattle Canvey Island
- Manufacture of agricultural tractors Axminster
- Information technology consultancy activities Dawley
- Manufacture of other furniture Middlesbrough
- Other engineering activities Liskeard
- Transport via pipeline Craven Arms
- Manufacture of office machinery and equipment except for computers and peripheral equipment Reading
- Manufacture of cordage, rope, twine and netting Hornsey
- Dental practice activities Devizes
- Activities of other holding companies n e c Petworth
- Solicitors Braunstone Town
Equity Release percentages of your current property value
- 50% monthly payment lifetime mortgage Royal London Equity Release
- 35% loan to value monthly payment lifetime mortgage Blemain
- 30% loan to value lifetime mortgage with flexible drawdown cash release Scottish Widows Bank
Hodge Lifetime Lifetime Mortgages
Hodge Lifetime Lifetime Mortgages
Legal and General Lifetime Mortgages
Equity Release Lenders
- Key Retirement
- Stepchange
- Key Solutions
- Stepchange
How much is it common to release from a home
The older you are and the sicker you are the more tax-free money you can release.