Legal & General Home Finance Equity Release

  • Remove tax-free cash from your house with Legal & General
  • Not necessary to make regular monthly payments unless you prefer to pay the interest
  • Use the money to help your family
  • Still, have some mortgage outstanding? No problems
  • Continue to stay in your home
  • Your Requirements

  • Please enter a number from 9000 to 20000000.
  • About You

  • Please enter a number from 25 to 90.
  • By clicking Submit and ticking the box above you agree to be contacted by email or telephone by an FCA authorised equity release advisor and confirm that you have read and agreed to our Terms & Conditions and our Privacy Policy

Legal & General Home Finance
West London Home
Homeowner in their 60s
Homeowner in their 60s
Over 55 Home owner

Equity Release Loan To Value

The older you are and the unhealthier you are the more cash you can release.

Drawbacks of Home Reversion Plans

Interest-only lifetime mortgages can reduce the value of your estate. Interest-only lifetime mortgages may impact ability to claim entitlements. You may need to pay a broker’s fee and some products expose you to changes in interest rates.

Lloyds Bank Equity Release Schemes

Providers for Equity Release

  • Bower
  • New Life
  • Age Concern
  • One Family

The lender will want to know if the property is a Semi detached freehold house or a Leasehold flat and if the resident is an Owner Occupier Primary Residence.

  • Canada Life Voluntary Select Gold Flexi
  • Hodge Equity Release Plans
  • Pure Retirement Equity Release Schemes
  • More to Life Capital Choice Plan
  • Age Partnership Interest Only Lifetime Mortgage
  • Nationwide Equity Release
  • HSBC Equity Release Schemes
  • TSB Lifetime Mortgage
  • More2Life Capital Choice Plus Plan
  • Bridgewater Equity Release Plans
  • Hodge Lifetime Flexible Drawdown Plan
  • Liverpool Victoria LV= Lump Sum Plus Lifetime Mortgage
  • Nationwide Equity Release Schemes
  • TSB Lifetime Interest Only Mortgage
  • NatWest Equity Release
  • Royal Bank of Scotland Equity Release
  • Canada Life Landlord Voluntary Select Plan
  • More2Life Capital Choice Plus Plan
  • More to Life Capital Choice Plan
  • Stonehaven Equity Release Plan
  • HSBC Lifetime Mortgage

 

Towns in the UK where retirement mortgages are routine

  • Redhill
  • Faringdon
  • Pudsey
  • Chorley
  • Wymondham
  • Pateley Bridge
  • Featherstone
  • Widnes
  • Kidsgrove
  • Wolsingham
  • Easingwold
  • Leigh-on-Sea
  • Northwich
  • Featherstone
  • Oswestry
  • Southwold

It’s very regular to discover individuals searching for home reversion schemes, monthly payment life time mortgage or monthly payment equity release, however, Just Retirement like Aegon are keen to see paperwork to show your circumstances in the form of bank statements.

Business owners who could benefit from equity release estate planning

  • Activities of agricultural holding companies Bishops Stortford
  • General medical practice activities Lydd
  • Freight air transport Ilkeston
  • Manufacture of other rubber products Ellesmere Port
  • Pre-primary education Longtown
  • Renting and leasing of other personal and household goods Filey
  • Manufacture of other organic basic chemicals Beaminster
  • The casting of light metals Barnes
  • Growing of other perennial crops Arlesey
  • Wholesale of dairy products, eggs and edible oils and fats Cannock
  • Retail sale of sports goods, fishing gear, camping goods, boats and bicycles Stroud
  • Cold rolling of narrow strip Shipston-on-Stour
  • Cold drawing of bars Fleetwood
  • Youth hostels West Malling
  • Wholesale of other food, including fish, crustaceans and molluscs Witney
  • Window cleaning services Willesden
  • Manufacture of other technical ceramic products Henley-on-Thames
  • Manufacture of plastic plates, sheets, tubes and profiles Thornaby-on-Tees
  • Retail sale of musical instruments and scores Broadstairs and St Peters
  • Investigation activities Faversham
  • Satellite telecommunications activities Exmouth

Legal & General

Why Take Out an Equity Release in the UK?  Is Legal and General the best deal?

Struggling to afford your mortgage (or need a better retirement) but still own your property? The good news, according to the ads at least, is that equity release is now an affordable and secure way of raising money. However, if you’re not careful, it can also be an expensive way of More2Life - Capital Choice Plus Plansecuring the future of your property.Legal & General Home Finance lifetime mortgage

One of the biggest advantages of taking out an equity loan in the UK is that it’s not normally available to first-time buyers. This means you will usually need to have a relatively good credit rating to be eligible. In addition, most loans, mortgages and refinancing deals are only available to those with stable employment and property in the UK, as the risk is so much greater for someone who might want to invest in a property abroad.

However, there are other reasons why taking out an equity loan in the UK might be an attractive option. Here are some of the most common:

* It’s easy to qualify for an equity loan in the UK. There are lenders offering competitive deals, making borrowing easy on any income group and offering competitive repayment options and terms.

* Interest rates are generally quite low – a lot lower than in the USA. If you can find an equity loan with a low rate then this can save you thousands. Even the best deals are still much cheaper than what you would pay by borrowing from the bank or building society.Legal & General Home Finance lifetime mortgage

* You are guaranteed to get a good deal on a loan if you have a steady job and you’re paying your mortgage on time. Even if you don’t have a house or an income, you can get a fixed rate that’s almost always better than those offered by a broker, and if your credit rating is good, then the terms and repayments are also very friendly.

* Getting an equity loan in the UK is very secure. There are a few risks involved. It’s a great way of putting your property back into your family’s hands, in the same way as when you were a child and ensuring that you have the financial means to support your children financially in the future.

The disadvantages of borrowing in the UK are mainly the same as those with other loans, such as the interest rates, the cost of borrowing and the potential for getting into trouble with the law. If you are considering taking out an equity loan in the UK then it’s wise to do some research online and check the law for the area you live in before taking out a loan.

If you are a first-time buyer, you will probably have to pay a larger deposit than usual, but this will vary depending on the type of equity loan you take out and the interest rate you choose. In most cases, you’ll also have to provide information relating to any previous properties and the length of time you have been paying off loans. You should also give the lender information about your current employment.

Although your monthly repayments will be lower on an equity release, there is a risk of repossession. Make sure you choose the right lender and choose carefully.Legal & General - Flexible Blue

If you plan to sell your home or borrow against your equity release, you need to make sure you sell it before you start paying off your loan. Selling it before the period for the repayments has expired is probably the best thing to do, because the longer you wait the more difficult it will be to get your money. Most lenders will only allow you to sell the property if you have paid off your loan in full, even though they are not legally obliged to do so.

Once you’ve got your loan paid off, you will also be able to reclaim a portion of your equity. Make sure that you use the money for something that will give you more financial security. This could mean that you can afford to go out to eat in a nice restaurant, buy a new car or take your children out for the weekend.


Legal and General Equity Release

One Family

Just Retirement Mortgages

 

Equity Release LTV PercentagesOneFamily joint lifetime mortgage

  • 50% lumpsum lifetime mortgages Legal & General
  • 60% loan to value lumpsum lifetime mortgages Key Retirement
  • 35% loan to value lump sum lifetime mortgages Shawbrook
  • 55% loan to value lumpsum lifetime mortgages More2Life
  • 40% loan to value (LTV) lump sum lifetime mortgages Santander
  • 25% loan to value (LTV) home reversion plans Clearly Loans
  • 40% LTV lifetime mortgage with flexible drawdown cash release Optimum Credit
  • 25% LTV lump sum lifetime mortgages Post Office Mtgs

 

 

 

Flexible Lifetime Mortgage Product Summary– Issue Date 14/08/2019
Home Equity Release plans
Product variant
Premier Flexible BlackCanada Life - Lifestyle Lite
Flexible Pink
Flexible Orange
Flexible Yellow
Flexible Green
Interest rates Fixed and Variable

Standard 3.36% MER 3.41% AER 3.45% MER 3.51% AER 3.45% MER 3.51% AER 3.62% MER 3.68% AER 3.76% MER 3.83% AER 2% Cashback N/A 3.65% MER 3.71% AER 3.65% MER 3.71% AER 3.81% MER 3.88% AER 3.96% MER 4.03% AER £599 Arrangement fee 3.32% MER 3.37% AER 3.42% MER 3.47% AER 3.42% MER 3.47% AER 3.58% MER 3.64% AER 3.73% MER 3.79% AER Flexible Turquoise 3.96% MER 4.03% AER 4.15% MER 4.23% AER 3.92% MER 3.99% AER Flexible Blue 4.46% MER 4.55% AER 4.65% MER 4.75% AER 4.42% MER 4.51% AER Flexible Navy 4.81% MER 4.92% AER 5.00% MER 5.12% AER 4.77% MER 4.88% AER Flexible Indigo 5.25% MER 5.38% AER 5.44% MER 5.58% AER 5.21% MER 5.34% AER  Call us on 03330 048444 Lines are open 8.30am to 5.30pm Monday to Friday. Call charges will vary. Calls may be monitored and recorded.
Legal & General Home Finance Limited is a wholly-owned subsidiary of Legal & General Group plc. We are registered in England and Wales number 04896447. Registered office: One Coleman Street, London EC2R 5AA. Legal & General Home Finance Limited is authorised and regulated by the Financial Conduct Authority.