- Release-tax free equity from your house
- You don’t need to make regular monthly payments
- Use the money for home improvements
- Are you still paying a mortgage? We can help with that
- Continue to live in your own home for as long as you like
- Nationwide Equity Release Scheme
- Halifax Retirement Mortgage Interest Rates
- Lloyds Lifetime Mortgage Home Reversion Plan
- Nationwide Retirement Mortgage Loan
- Lloyds Bank Equity Release Brokers Uk
- Lloyds Bank Retirement Mortgages Rates 2022
- Natwest Retirement Mortgage Calculator
- Santander Equity Release Loan
- Santander Retirement Mortgage Advice
- HSBC Equity Release Scheme
- Natwest Lifetime Mortgage No Payments
- Natwest Equity Release Best Deals
- Santander Lifetime Mortgage Maximum Ltv
- Halifax Equity Release Interest Rates
- Lloyds Equity Release Drawdown
Drawbacks of Lifetime Mortgages
Home reversion schemes can reduce the inheritance for your family. Home reversion plans may impact the ability to claim entitlements. You may need to pay a broker’s fee and you could have higher rates to pay with some schemes.
What percentage can be released?
The more elderly you are and the sicker you are the more tax-free money you can release.
- Hodge Equity Release Plans
- Stonehaven Lifetime Mortgage
- Age Partnership Equity Release
- Aviva Flexible Voluntary Repayment Plan
- Just Retirement Equity Release
- Stonehaven Interest Select Plan
- Lloyds Bank Lifetime Mortgage
- TSB Equity Release Plans
- Royal Bank of Scotland Lifetime Mortgage
- Saga Equity Release Plans
- More2Life Flexi Choice Voluntary Payment Super Lite
- Liverpool Victoria LV Equity Release Schemes
- Pure Retirement Lifetime Mortgage
- Nationwide Equity Release Plans
- Bridgewater Lifetime Mortgage
- Canada Life Interest Select Gold Flexi
- Hodge Lifetime Mortgage Plus
- L&G Legal & General Flexi Max Voluntary Repayment Plan
- More to Life Capital Choice Plus Plan
- Pure Retirement Classic Voluntary Payment Super Lite
- Lloyds Bank Equity Release Plans
- Age Partnership Equity Release Plans
Hard to finance property variants can include homes requiring essential repairs, properties where multiple third parties are living in an annexe, freehold houses and bungalows (England, Wales, Northern Ireland), commonhold properties and properties owned under any form of shared equity scheme.
Many of the most appealing pensioner mortgage products are TSB mortgages over 65, HSBC later life borrowing schemes, Halifax pensioner mortgages, L&G interest only mortgages for over 60s near London and Nationwide Building Society mortgages for people 60 plus.
Difficult to finance property variants include Timber-framed properties constructed post-1965, properties with single skin brickwork where the single skin comprises more than 20% of the surface area of the external walls, privately developed flats, maximum four storeys with a lift, former local authority flats and privately developed flats in blocks of three or four storeys without a lift.
Popular loan to values of Lloyds retirement mortgages over 65, HSBC mortgages for over 50 year olds, Halifax mortgages for people over 50, L&G mortgages for people 60 plus, Royal Bank of Scotland mortgages for over 70s and Nationwide BS mortgages for over 60s are 40%, 60% and 65%.
Tough to finance property variants can include properties built or converted into dwellings more than 10 years ago, properties converted from modern commercial premises, properties without direct access to an adopted highway or which are accessed over an unmade road, properties using rooms, land or outbuildings for business purposes which are not personal to the borrower(s) or which extend to more than 50% of the property to be secured and properties with mobile phone masts which are within influencing distance of the house.
Challenging to mortgage home titles can 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), properties of non-standard construction, corrugated iron construction and Airey, Boot, Cornish Unit, Dorran, Dyke, Gregory, Hamish Cross, Myton, Newland, Orlit and Parkinson Frame.
How much money can I release?
You can get 65% of your home’s valuation. For example, if your home is worth £220000 you can release £143000.
Its often found to discover people searching for a monthly payment lifetime mortgage, lump sum lifetime mortgages or interest-only lifetime mortgages, however, Key Retirement like The Exeter Equity Release are keen to see proof of your situation in the form of pension statements.
The lender will want to know if the property is a Semi detached freehold house or a Leasehold house and if the resident is an Owner Occupier.
Lenders for Equity Release
- Just Retirement
- Key Retirement
Equity Release percentages of your current property value
- 50% monthly payment equity release Old Mutual Wealth
- 55% loan to value monthly payment equity release Key Solutions
- 60% LTV home reversion schemes 1st Stop Home Loans
- 25% LTV lump sum lifetime mortgages Together
- 25% loan to value lump sum lifetime mortgages Prestige Finance
- 30% loan to value (LTV) home reversion plans Marsden
Successful business owners who could benefit from equity release estate planning
- Agents involved in the sale of textiles, clothing, fur, footwear and leather goods Morecambe
- Growing of vegetables and melons, roots and tubers Eastwood
- Manufacture of other chemical products n e c Eye
- Manufacture of mattresses Blackburn
- Space transport Northfleet
- Manufacture of military fighting vehicles Quedgeley
- Library activities Stonehouse
- Manufacture of perfumes and toilet preparations Halewood
- Manufacture of other technical and industrial textiles Ashton-under-Lyne
- Manufacture of other electrical equipment Beckenham
- Manufacture of batteries and accumulators Yarm
- Manufacture of ovens, furnaces and furnace burners Hailsham
- Manufacture of non-electronic industrial process control equipment Birchwood
- Trade of gas through mains Crewe
- Mining of uranium and thorium ores Amersham
- Other cleaning services Reepham
- Mineral oil refining Silsden
- Other specialist photography Ashby-de-la-Zouch
- Wholesale of dairy products, eggs and edible oils and fats Doncaster
- Raising of horses and other equines Ferndown
- Retail sale of fish, crustaceans and molluscs in specialised stores Scarborough
Towns of the UK where Lifetime Mortgages are routine
- Bletchley and Fenny Stratford
- Ashby Woulds
- Northleach with Eastington