- Remove tax-free money from your property with an Aviva Lifetime Mortgage
- No need to make regular monthly payments
- Use the equity released for anything you like
- Continue to stay in your property
- Can be a vehicle to reduce tax bills
The lender like Aviva Lifetime Mortgage will want to know if the property is a Freehold house or a Leasehold house and if the resident is a Private Tenant.
- L&G Legal & General Flexible Max Plus
- Liverpool Victoria LV Equity Release Schemes
- Stonehaven Lifetime Mortgage
- Nationwide Equity Release Plans
- Age Partnership Equity Release
- Canada Life Interest Select Gold Flexi
- Hodge Equity Release Plans
- Stonehaven Interest Only Lifetime Mortgage
- More2Life Flexi Choice Voluntary Payment Super Lite
- Hodge Lifetime Flexible Voluntary Repayment Plan
- More 2 Life Flexi Choice Voluntary Payment Super Lite
- Pure Retirement Drawdown Plan
- NatWest Equity Release Schemes
- Age Partnership Equity Release
- Nationwide Equity Release Plans
- Royal Bank of Scotland Equity Release Plans
Its often found to find people searching for monthly payment equity release, lumpsum lifetime mortgages or lifetime mortgage with flexible drawdown cash release, however, Key Solutions like Maximum cover Equity Release are keen to see proof of your situation in the form of pension statements.
Examples of retired small business owners likely to have equity to release with a Aviva Lifetime Mortgage
- Renting and leasing of cars and light motor vehicles Redruth
- Activities of sports clubs Bletchley and Fenny Stratford
- Primary education Eccles
- Raising of camels and camelids Wath-upon-Dearne
- Manufacture of ceramic tiles and flags North Walsham
- Foreign affairs Burton Latimer
- Manufacture of bodies coachwork for motor vehicles except for caravans Dereham
- Licensed carriers Bulwell
- Combined office administrative service activities Earley
- Manufacture of machinery for metallurgy Sawbridgeworth
- Manufacture of railway locomotives and rolling stock Stonehouse
- Renting and leasing of office machinery and equipment including computers East Grinstead
- Manufacture of bicycles and invalid carriages Redcar
- Child day-care activities Kettering
- Activities of other holding companies n e c Bromsgrove
- Wholesale of wine, beer, spirits and other alcoholic beverages Clevedon
- Wholesale of machinery for the textile industry and of sewing and knitting machines Dronfield
- Regulation of health care, education, cultural and other social services, not incl social security Coleshill
- Manufacture of air and spacecraft and related machinery Bollington
- Sea and coastal passenger water transport Waltham Abbey
- Sound recording and music publishing activities Abingdon-on-Thames
- Santander Lifetime Mortgage Drawdown Scheme
- Lloyds Lifetime Mortgage Buy To Let
- HSBC Lifetime Mortgage On Second Property
- Lloyds Bank Equity Release
- Nationwide Retirement Mortgage Calculator
- Santander Equity Release Mortgage
- Natwest Equity Release Drawdown
- Halifax Lifetime Mortgage On Second Property
- Lloyds Bank Lifetime Mortgage Fixed Rate
- Nationwide Lifetime Mortgage Home Reversion Plan
- Halifax Equity Release Loan
- Halifax Retirement Mortgage Providers
- Nationwide Equity Release Brokers Uk
- Lloyds Bank Retirement Mortgages Age
- Santander Retirement Mortgage House
Equity Release Scheme Providers
- Key Retirement
- Sunlife Plans
Difficult to finance home variants can include properties currently undergoing substantial alterations, extensions or repairs, entirely tenanted properties, right to buy – properties in England, Wales and Northern Ireland, properties which are made up of multiple titles and properties with leased solar panels.
Appealing retirement loan offerings are TSB interest only lifetime mortgages, Barclays later life mortgages, Aviva Lifetime Mortgage plans, Post Office interest-only mortgages for over 65 year olds, L&G mortgages over 70s and Nationwide Building Society mortgages for people over 50.
Difficult to finance property types can include eco houses and modern methods of construction, properties with any externally applied insulation to the walls after construction, properties constructed or converted within the past 10 years, privately developed flats in blocks of five storeys or more and basement or lower ground floor flats without level access to private or communal garden space.
Common loan to values of Lloyds interest only lifetime mortgages for people over 60, Barclays Bank equity release schemes for people over 70, Natwest interest only mortgages for over 60s, L&G equity release schemes for over 55’s, RBS mortgages for 60 year olds and Nationwide Building Society lifetime mortgages for people over 55 are 50%, 60% and 70%.
Challenging to finance home titles include flats of less than 30 square metres in any location, properties with flying or creeping freehold which comprises 15% or less of the total floor area, properties without direct access to an adopted highway or which are accessed over an unmade road, properties that are being used for personal commercial use and properties with mobile phone masts which are within influencing distance of the house.
Challenging to finance home titles include high service charges, ground rent where the lease or any deed varying the lease provides for a ground rent exceeding, or where the escalating provisions would result in the ground rent exceeding £250 per annum (or £1000 per annum where the property is in Greater London), derelict property or where part of the building is in severe disrepair and needs demolishing, timber buildings and concrete panel houses.
How much money can I release?
You can get 65% of your home’s valuation. As an example, if your house is worth £180000 you can borrow £117000.
Areas where Lifetime Mortgages are popular
- Elstree and Borehamwood
- St Blaise
- East Retford
Equity Release LTV
The older you are and the sicker you are the more money you can release.
Equity Release LTV without cashback
- 55% lumpsum lifetime mortgages Zurich
- 55% loan to value interest-only lifetime mortgages Paragon Personal Finance
- 55% loan to value (LTV) home reversion plans Age Partnership
- 25% loan to value (LTV) monthly payment lifetime mortgage First Trust Bank
- 50% loan to value monthly payment equity release Equifinance
- 25% LTV interest-only lifetime mortgages Bank of China UK
Downsides of Home Reversion Schemes with cashback
Monthly payment equity release can reduce the value of your estate. A monthly payment lifetime mortgage may impact entitlements to benefits. You may need to pay an advisor’s fee and you could have higher rates to pay with some schemes.