- Remove money from your home
- No monthly repayments
- Help a family member buy their own home with a modest mortgage
- Continue to live in your own home for as long as you like
- Could be used to help tax planning
Retired small business owners that may be interested in Home Reversion Schemes
- Other human health activities Sutton Coldfield
- Activities of property unit trusts Southport
- Other accommodation Buckingham
- Forging, pressing, stamping and roll-forming of metal; powder metallurgy Congleton
- Unlicensed restaurants and cafes Whaley Bridge
- Support services to forestry Ilminster
- Manufacture of sugar Darlington
- Renting and leasing of cars and light motor vehicles Bradford-on-Avon
- Trade of gas through mains Cleckheaton
- Manufacture of other ceramic products n e c Spennymoor
- Wholesale of computers, computer peripheral equipment and software Market Drayton
- Manufacture of household and sanitary goods and of toilet requisites Henley-on-Thames
- Mining of lignite Watchet
- manufacture of household textiles Kings Lynn
- Processing of nuclear fuel Falmouth
- Support activities for petroleum and natural gas extraction Willenhall
- Recovery of sorted materials Ashton-under-Lyne
- Archives activities Wirksworth
- Research and experimental development on social sciences and humanities Stamford
- Manufacture of bearings, gears, gearing and driving elements Knaresborough
- Quarrying of ornamental and building stone, limestone, gypsum, chalk and slate Boroughbridge
- Aviva Lifestyle Flexible Option
- More 2 Life Capital Choice Plus Plan
- Stonehaven Lifetime Mortgage
- TSB Lifetime Mortgage
- Aviva Equity Release Schemes
- More2Life Flexi Choice Drawdown Lite Plan
- Just Retirement Drawdown Lifetime Mortgage
- L&G Legal & General Flexible Max Scheme
- More to Life Capital Choice Plan
- More2Life Tailored Choice Plan
- Liverpool Victoria LV= Lump Sum Plus Lifetime Mortgage
- Nationwide Equity Release Plans
- Lloyds Bank Equity Release Plans
- TSB Equity Release
- Aviva Equity Release
- Stonehaven Interest Only Lifetime Mortgage
- NatWest Equity Release Plans
- More 2 Life Flexi Choice Voluntary Payment Super Lite
- Age Partnership Equity Release Plans
Areas where equity release is common
- Lloyds Bank Lifetime Mortgage Interest Only Rates
- Santander Retirement Mortgage Rates 2022
- Halifax Lifetime Mortgage Advisers
- Lloyds Bank
- Lloyds Bank Retirement Mortgages Age
- Natwest Lifetime Mortgage Over 55
- Nationwide Lifetime Mortgage No Payments
- Nationwide Equity Release Retirement
- Lloyds Lifetime Mortgage Interest Only Rates
- Halifax Equity Release Interest Rates
- Lloyds Retirement Mortgage Rates 2022
- Natwest Retirement Mortgage Loan
- Lloyds Equity Release Mortgage
- HSBC Equity Release Scheme
- Nationwide Retirement Mortgage Interest Rates
It is very regular to find individuals looking for lifetime mortgages with flexible drawdown cash releases, monthly payments lifetime mortgages or home reversion plans, however, Just Retirement like AA equity release are keen to see evidence of your situation in the form of investment statements.
Equity Release Providers
- the Telegraph
Hard to mortgage property variants can include properties in the course of construction or pre-construction, properties where tenants live in a self-contained part of the property, leasehold properties where the lease length is currently unacceptable, properties with unregistered titles subject to these being registered as part of the legal process and properties with leased solar panels.
Many of the most appealing pensioner loan products are TSB retirement interest only mortgages, HSBC interest only mortgages for people over 60, Halifax mortgages for people 60 plus, Legal & General mortgages for over 65 and Nationwide equity release schemes.
Hard to finance home variants include pre-fabricated reinforced concrete (PRC), properties with pre 1945 asbestos or similar composition roof tiles, large concrete panel systems, former local authority flats and flats above or adjacent to commercial premises.
Common loan to value ratios of Lloyds interest only mortgages for over 70s, Barclays Bank mortgages for over 70s, Halifax interest only lifetime mortgages for over 60s, L&G retirement mortgagesover 65, RBS mortgages for pensioners over 60 and Nationwide later life interest only mortgages over 70 are 45%, 60% and 65%.
Tough to finance property variants can include properties built or converted into dwellings within the last 10 years , properties with grounds in excess of five acres, use of the land and any outbuildings for a small amount of personal commercial use., properties with flying or creeping freeholds which comprise over 15% of the total floor area 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 variants can include properties with a sinking fund of 7% or more of the property sale price when the property is sold, properties without a kitchen or bathroom, properties with structural problems, asbestos construction and concrete frame.
How much cash can I release?
You can get 70% of your property’s valuation. As an example, if your house is worth £270000 you can release £189000.
The 1st and 2nd charge lender will want to know if the property is a Freehold terraced house or a Leasehold house and if the resident is an Assured shorthold tenancy tenant.
Pitfalls of Home Reversion Schemes
A lifetime mortgage with flexible drawdown cash release can reduce the value of your estate. Home reversion plans may impact the ability to claim entitlements. You may need to pay an advisor’s fee and you could have higher rates to pay with some schemes.
Equity Release LTV Percentages
- 55% home reversion plans Maximum cover Equity Release
- 55% loan to value interest-only lifetime mortgages Aviva
- 60% loan to value (LTV) monthly payment lifetime mortgage Equifinance
- 60% LTV lumpsum lifetime mortgages Just Retirement
- 50% loan to value interest-only lifetime mortgages Together Money
- 35% LTV interest-only lifetime mortgages Shawbrook
- 30% loan to value lump sum lifetime mortgages Family Building Society
- 35% LTV interest-only lifetime mortgages Pepper
- 25% loan to value lump sum lifetime mortgages Holmesdale Building Society
What percentage can be released?
The older you are and the more illnesses you have you are the more cash you can release.