- Remove tax-free money from your property
- No monthly repayments
- Help a family member buy their own home with a smaller mortgage
- Continue to stay in your house
Towns where equity release is popular
- Whitby
- Tipton
- South Elmsall
- Kingsteignton
- Berwick-upon-Tweed
- Malvern
- Hinckley
- Uckfield
- Southend-on-Sea
- Alton
The lender will want to know if the property is a Detached freehold house or a Leasehold flat and if the resident is an Assured shorthold tenancy tenant.
Equity Release LTV
- 55% lump sum lifetime mortgages LV Liverpool Victoria
- 40% loan to value monthly payment equity release Step Change
- 50% LTV lumpsum lifetime mortgages Paragon Personal Finance
- 25% loan to value lifetime mortgage with flexible drawdown cash release Nationwide Building Society
- 50% LTV lifetime mortgage with flexible drawdown cash release Key Solutions
- 55% loan to value (LTV) home reversion plans 1st Stop Home Loans
- 25% LTV monthly payment lifetime mortgage Evolution Money
- 30% loan to value monthly payment lifetime mortgage Chorley Building Society
It’s very regular to encounter people searching for home reversion plans, monthly payment lifetime mortgage or monthly payment equity release, however, Just Retirement like VitalityLife Equity Release are keen to see paperwork to show your personal situation in the form of bank statements.
- Natwest Lifetime Mortgage Interest Only Rates
- Nationwide Lifetime Mortgage Over 55
- Lloyds
- Lloyds Bank Retirement Mortgages House
- HSBC Retirement Mortgage Home
- Halifax Lifetime Mortgage No Payments
- Natwest Retirement Mortgage Age
- Lloyds Equity Release Interest Rates
- Natwest Equity Release Interest Rates
- Halifax Equity Release Plan
- Lloyds Bank Equity Release Interest Rates
- Lloyds Lifetime Mortgage Over 55
- HSBC Equity Release Brokers Uk
- Halifax Retirement Mortgage Uk
- HSBC Lifetime Mortgage Reviews
- Santander Retirement Mortgage Interest Rates
- Pure Retirement Classic Voluntary Payment Super Lite
- Nationwide Equity Release Plans
- Age Partnership Equity Release
- Just Retirement Equity Release Plans
- Stonehaven Equity Release Plan
- Aviva Equity Release Plans
- Hodge Equity Release Schemes
- Just Retirement Drawdown Lifetime Mortgage
- Nationwide Equity Release Plans
- More to Life Flexi Choice Drawdown Lite Plan
- Aviva Equity Release Plans
- Canada Life Equity Release Schemes
- More2Life Flexi Choice Drawdown Lite Plan
Equity Release Scheme Lenders
- Age Concern
- LV lifetime mortgage
- More2Life
Hard to mortgage home types include poorly maintained at the time of the valuation inspection, properties where tenants live in a self-contained part of the property, right to buy – properties in England, Wales and Northern Ireland, commonhold properties and properties with owned solar panels.
Some of the most common pensioner finance products include Lloyds Bank mortgages for over 70s, Barclays pensioner mortgages, Halifax interest only lifetime mortgages, Legal and General later life interest only mortgages over 70 and Nationwide Building Society later life mortgages.
Hard to finance home variants can include timber framed properties built before 1920, properties with any external treatment applied to the roof after construction, properties with minimum floor area of 30 square metres, freehold/feuhold flats (Scotland only) and basement or lower ground floor flats without level access to private or communal garden space.
Some of the most common loan to value percentages of TSB interest only lifetime mortgages for over 60s, HSBC pensioner mortgages over 70s, Post Office RIO mortgages over 75, L&G mortgages for over 70s, Bank of Scotland retirement mortgagesover 65 and Nationwide BS retirement mortgages over 70 are 45%, 60% and 70%.
Challenging to finance property variants include properties built or converted into dwellings within the last 10 years , properties with grounds in excess of five acres, properties without direct access to an adopted highway or which are accessed over an unmade road, properties where there is a self-contained part of the property or annexe, i.e. basement flat etc and properties adversely affected by existing or proposed issues including roads, rail, airports, power plants, power lines/pylons, wind turbines, sub stations, sewage works, quarries, fuel stations, refuse sites, sports grounds, noise, light or environmental pollution.
Tough to mortgage property variants can include properties with legal agreements such as Overage, Clawback, Option, Pre-emption, or any onerous Restrictive Covenant, properties without a kitchen or bathroom, properties of non-standard construction, timber buildings 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 get?
You can get 60% of your property’s value. For example, if your house is valued at £270000 you can borrow £162000.
How much is it common to release from a home
The older you are and the unhealthier you are the more tax-free money you can release.
Downsides of Lifetime Mortgages
Home reversion schemes can reduce your estate value. Monthly payment equity release may impact entitlements to benefits. You may need to pay a legal fee and you could have higher rates to pay with some schemes.
Legal and General Retirement Mortgages
Aviva Drawdown Lifetime Mortgages
Canada Life Retirement Mortgages
Lifetimes Mortgages from Aviva
Wealthy business owners who could benefit from equity release estate planning, in particular, the Aviva Lifestyle Flexible Option Lifetime Mortgage
- Motion picture, television and other theatrical casting activities Fareham
- Retail sale via stalls and markets of textiles, clothing and footwear Lydd
- First-degree level higher education Edgware
- Retail sale of books in specialised stores March
- Other treatment of petroleum products excluding petrochemicals manufacture Cheadle
- Sale of used cars and light motor vehicles Castleford
- Manufacture of non-domestic cooling and ventilation equipment North Hykeham
- Manufacture of magnetic and optical media Bulwell
- Growing of other non-perennial crops Aspatria
- Financial management Maryport
- Other mining and quarrying n e c Goole
- Processing and preserving of fish, crustaceans and molluscs Sutton Coldfield
- Construction of utility projects for electricity and telecommunications Richmond
- Operation of warehousing and storage facilities for water transport activities Wooler
- Wholesale of other intermediate products Southport
- Growing of tropical and subtropical fruits Bromyard
- The building of pleasure and sporting boats Cotgrave
- Specialised cleaning services Harpenden
- Construction of railways and underground railways Burntwood
- Activities of real estate investment trust Clay Cross
- Manufacture of prepared meals and dishes Grantham
