- Release tax-free cash from your home with L&G Equity Release
- Can be used for buy to let property
- No monthly repayments
- Help a member of your family buy their own home that they couldn’t afford otherwise
- Continue to live in your own house
- Often used to help tax planning
- Aviva Lifetime Mortgages
- More 2 Life Tailored Choice Plan
- Bridgewater Equity Release Plans
- Just Retirement Drawdown Lifetime Mortgage
- More2Life Flexi Choice Drawdown Lite Plan
- TSB Lifetime Interest Only Mortgage
- Age Partnership Equity Release Schemes
- HSBC Equity Release
- More 2 Life Capital Choice Plus Plan
- NatWest Equity Release Schemes
- Aviva Equity Release Plans
- More2Life Tailored Choice Plan
- Bridgewater Lifetime Mortgage
- Canada Life Equity Release
- Royal Bank of Scotland Equity Release Plans
- Age Partnership Equity Release
- Canada Life Lifetime Mortgages
- Hodge Lifetime Flexible Drawdown Plan
- Nationwide Equity Release
- TSB Lifetime Interest Only Mortgage
- More 2 Life Flexi Choice Drawdown Lite Plan
Towns where retirement mortgages are common
- Halifax Retirement Mortgage Advice
- HSBC Equity Release Interest Rates
- Lloyds Equity Release Best Deals
- HSBC Lifetime Mortgage Drawdown Scheme
- Lloyds Bank Equity Release Plan
- Lloyds Bank Retirement Mortgages Interest Rates
- Natwest Equity Release Loan
- Nationwide Retirement Mortgage
- Lloyds Bank Lifetime Mortgage Drawdown Scheme
- Nationwide Lifetime Mortgage Maximum Ltv
- HSBC Retirement Mortgage Interest Only
- Santander Equity Release Plan
- Lloyds Retirement Mortgage Loan
- Santander Retirement Mortgage Interest Rates
- Natwest Lifetime Mortgage No Payments
It’s usual to find individuals looking for lifetime mortgages with flexible drawdown cash release, lumpsum lifetime mortgages or monthly payment equity release. However, Key Retirement like Royal London Equity Release is keen to see proof of your circumstances in the form of pension statements.
The 1st and 2nd charge lender will want to know if the property is a Detached freehold house or a Leasehold house and if the resident is a Private Tenant.
Successful business owners who could benefit from equity release tax planning
- Reproduction of computer media Farnborough
- Photographic activities not elsewhere classified Henley-on-Thames
- Manufacture of other games and toys, n e c Caistor
- Manufacture of man-made fibres Sandy
- Production of glass fibres Maldon
- Manufacture of knitted and crocheted hosiery Market Bosworth
- Cargo handling for water transport activities Maghull
- Wholesale of hardware, plumbing and heating equipment and supplies Elstree and Borehamwood
- Fitness facilities Totnes
- Repair of footwear and leather goods Richmond
- Operation of warehousing and storage facilities for water transport activities Haverhill
- Manufacture of non-electronic measuring, testing etc. equipment, not for industrial process control Horsham
- Manufacture of malt St Columb Major
- Renting and leasing of other personal and household goods Ashby Woulds
- Activities of extraterritorial organisations and bodies Winchelsea
- Opencast coal working Dalton Town with Newton
- Investigation activities Loughborough
- Manufacture of power-driven hand tools Wellingborough
- Publishing of newspapers Newbiggin-by-the-Sea
- Growing of other non-perennial crops Fleetwood
- Manufacture of explosives Thatcham
L&G Equity Release LTV Percentages
The more elderly you are and the sicker you are, the more cash you can release.
Equity Release UK Lenders
- Legal and General
Difficult to mortgage property types include properties in poor condition, age restricted properties, leasehold properties (England, Wales, Northern Ireland) subject to a lease length of 160 years, commonhold properties and properties where the borrower(s) own the freehold with any connected party.
Common pensioner mortgage products are Lloyds mortgages for over 60s, HSBC lifetime mortgages, Natwest pensioner mortgages over 70s, L&G mortgages for over 60s and Nationwide mortgages for people over 50.
Hard to finance property types can include eco houses and modern methods of construction, properties with any external treatment applied to the roof after construction, privately developed flats, maximum four storeys with a lift, privately developed flats in blocks of two storeys without a lift and properties where the flat is accessed via a deck or balcony.
Common loan to value ratios of Lloyds interest only lifetime mortgages for over 60s, Barclays Bank lifetime mortgages for people over 55, Halifax help to buy for over 60s, Legal and General later life mortgages for over 70s, RBS interest only lifetime mortgages for over 60s and Nationwide BS pensioner mortgages over 60 are 45%, 60% and 65%.
Tough to finance home titles can include grade ll Listed houses (grade C in Scotland and B2 in Northern Ireland), properties with a single annexe or other self-contained part of the property, grades l and ll* Listed Buildings in England & Wales (Grades A and B in Scotland; A, B+ and B1 in Northern Ireland), properties where there is a self-contained part of the property or annexe, i.e. basement flat etc 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.
Tough to finance property variants include properties built on contaminated land, leasehold properties with a short lease, typically less than 70 years, or a defective lease, properties where there are boundary disputes or where planning applications have not been applied for correctly, asbestos construction and Airey, Boot, Cornish Unit, Dorran, Dyke, Gregory, Hamish Cross, Myton, Newland, Orlit and Parkinson Frame.
How much money can I get?
You can get 60% of your home’s valuation. For example, if your house is valued at £190000 you can get £114000.
Equity Release LTV
- 55% lumpsum lifetime mortgages Fortify Insurance Solutions
- 50% LTV lifetime mortgage with flexible drawdown cash release Just Retirement
- 30% loan to value monthly payment lifetime mortgage Clearly Loans
- 55% LTV lifetime mortgage with compliant drawdown cash release Norton Finance
- 40% LTV monthly payment lifetime mortgage One Family
- 50% LTV lumpsum lifetime mortgages 1st Stop Home Loans
- 30% LTV lumpsum lifetime mortgages Clearly Loans
- 45% loan to value monthly payment equity release Shawbrook
- 30% loan to value lifetime mortgage with flexible drawdown cash release Bath Inv and Building Society
Downsides of L&G Equity Release Plans
Monthly payment equity release can reduce the inheritance for your family. L&G Equity Release schemes may impact the ability to claim entitlements. You may need to pay a legal fee, and you could be exposed to changes in interest rates with some products.
Flexible Lifetime Mortgage Product Summary– Issue Date 14/08/2019
Home Equity Release plans
Premier Flexible Black
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.