- Remove tax-free cash from your home
- No regular monthly repayments
- Help your family with the equity you release
- Continue to stay in your house for as long as you like
Equity Release percentages of your current property value
- 60% home reversion schemes VitalityLife Equity Release
- 50% loan to value interest-only lifetime mortgages Key Retirement
What percentage can be released?
The more aged you are and the unhealthier you are the more tax-free cash you can release.
It is often found to find individuals seeking out monthly payment lifetime mortgage, monthly payment lifetime mortgage or monthly payment equity release, however, Lifetime Mortgage from L&G like AA equity release are keen to see paperwork to show your situation in the form of bank statements.
- HSBC Retirement Mortgage Calculator
- Lloyds Bank Equity Release From Property
- HSBC Lifetime Mortgage On Second Property
- Lloyds Bank Lifetime Mortgage Over 55
- Halifax Retirement Mortgage Interest Rates
- Santander Retirement Mortgage Home
- Lloyds Retirement Mortgage Uk
- Halifax Lifetime Mortgage Interest Only Rates
- Natwest Equity Release Plan
- Natwest Retirement Mortgage Interest Rates
- Natwest Lifetime Mortgage Maximum Ltv
- Nationwide Equity Release Schemes
- Lloyds Equity Release Best Deals
- Santander Lifetime Mortgage Fixed Rate
- HSBC Equity Release Advice
- Santander Equity Release Interest Rates
UK Equity Release Scheme Lenders
- Just Retirement
- LV lifetime mortgage
- Sunlife Plans
Drawbacks of Equity Release Schemes
A lifetime mortgage with flexible drawdown cash release can reduce the inheritance for your family. Home reversion schemes may impact entitlements to state benefits. You may need to pay a valuation fee and some products expose you to changes in interest rates.
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.
Hard to finance property variants can include poorly maintained at the time of the valuation inspection, properties where multiple third parties are living in an annexe, right to buy – properties in Scotland, leasehold properties (with the exception of flats and maisonettes) and properties with single skin brickwork.
Some of the most popular retirement finance offerings include TSB mortgages for people over 50, Barclays Bank retirement interest only mortgages, Natwest interest only lifetime mortgages, Legal & General equity release plans and Nationwide BS later life interest only mortgages over 70.
Hard to finance property variants can include properties with post 1945 asbestos or similar composition roof tiles , properties with any external treatment applied to the roof after construction, properties constructed or converted within the past 10 years, former local authority flats and privately developed flats in blocks of three or four storeys without a lift.
Popular loan to value percentages of Lloyds RIO mortgages over 75, HSBC pensioner mortgages over 55, Natwest interest only mortgages for people over 60, Legal & General remortgages for people over 50 years old, RBS remortgages for people over 50 years old and Nationwide BS retirement mortgages over 60 are 45%, 55% and 65%.
Tough to finance property variants include properties built or converted into dwellings more than 10 years ago, properties with room(s) or outbuilding(s) used for a small amount of personal commercial use, properties without direct access to an adopted highway or which are accessed over an unmade road, properties that have solar farms or a large number of wind turbines on the land and properties in coastal areas that may be affected by erosion.
Tough to finance home titles can include properties with a sinking fund of 7% or more of the property sale price when the property is sold, properties with any kind of structural defect, damp, dry or wet rot, derelict property or where part of the building is in severe disrepair and needs demolishing, cob property and concrete panel houses.
How much cash can I borrow?
You can release 65% of your property’s valuation. For example, if your home is valued at £300000 you can borrow £195000.
- Aviva Lifetime Mortgages for Pensioners
- More 2 Life Flexi Choice Drawdown Lite Plan
- Bridgewater Lifetime Mortgage
- Hodge Indexed Lifetime Mortgage
- L&G Legal & General Flexible Lifetime Mortgage
- Liverpool Victoria LV Equity Release Plans
- NatWest Equity Release Schemes
- Canada Life Prestige Flexi Option
- L&G Legal & General Premier Flexible Lifetime Mortgage
- More to Life Flexi Choice Voluntary Payment Super Lite
- Stonehaven Equity Release
- Nationwide Interest Only Lifetime Mortgage
- NatWest Interest Only Lifetime Mortgage
- Aviva Lifetime Mortgage
- Bridgewater Equity Release Plans
- Canada Life Lifestyle Gold Flexi
- Just Retirement Drawdown Lifetime Mortgage
- Liverpool Victoria LV Equity Release Schemes
- More 2 Life Flexi Choice Voluntary Payment Super Lite
- Pure Retirement Equity Release Schemes
- Stonehaven Lifetime Mortgage
- HSBC Interest Only Lifetime Mortgage
- Age Partnership Equity Release Schemes
- Bridgewater Equity Release
- Age Partnership Equity Release
Areas where equity release is common
- New Alresford
- Halewood
- Didcot
- Masham
- Wells-next-the-Sea
- Carterton
- Scunthorpe
- Rye
- Wallingford
- Bognor Regis
- Egremont
Examples of retired business owners likely to have equity to release
- Trade of gas through mains Barnes
- Retail sale of books in specialised stores West Bromwich
- Aluminium production Whittlesey
- Foreign affairs Nailsworth
- Film processing Brampton
- Hotels and similar accommodation Sedgefield
- Retail sale of fruit and vegetables in specialised stores Redruth
- Retail sale of cosmetic and toilet articles in specialised stores Tiverton
- Manufacture of glues Sittingbourne
- Wholesale of grain, unmanufactured tobacco, seeds and animal feeds Darwen
- Manufacture of engines and turbines, except aircraft, vehicle and cycle engines Spalding
- Cold rolling of narrow strip Belper
- Activities of investment trust Corbridge
- Other transportation support activities Tring
- manufacture of canvas goods, sacks, etc Featherstone
- Preparation and spinning of textile fibres Mablethorpe and Sutton
- Fund management activities Barnoldswick
- Driving school activities Bicester
- Manufacture of machinery for textile, apparel and leather production Corringham
- Other urban, suburban or metropolitan passenger land transport not underground, metro or similar Poynton-with-Worth
- Manufacture of ready-mixed concrete Helmsley