- Release cash from your house
- No monthly repayments
- Use the money for anything you like
- Continue to live in your own home for as long as you like
Providers for UK Equity Release
- Just Retirement
- Lifetime Mortgage from L&G
- More 2 Life Capital Choice Plan
- Hodge Equity Release Plans
- L&G Legal & General Flexi Max Voluntary Repayment Plan
- More2Life Tailored Choice Plan
- Nationwide Equity Release
- HSBC Interest Only Lifetime Mortgage
- Bridgewater Lifetime Mortgage
- L&G Legal & General Flexible Plus Lifetime Mortgage
- Canada Life Lifetime Mortgages
- Hodge Lifetime Mortgage Plus
- Just Retirement Interest Only Lifetime Mortgage
- Pure Retirement Equity Release Plans
- HSBC Equity Release
- More to Life Capital Choice Plan
- Lloyds Bank Equity Release Schemes
- TSB Lifetime Interest Only Mortgage
- Age Partnership Equity Release
- Hodge Equity Release Schemes
- Liverpool Victoria LV Equity Release Schemes
- HSBC Equity Release Schemes
- Royal Bank of Scotland Interest Only Lifetime Mortgage
- Saga Lifetime Mortgage
Examples of small business owners with home equity to release
- Other activities auxiliary to insurance and pension funding Fazeley
- Fitness facilities Amersham
- Other education n e c Ryde
- Mining of other non-ferrous metal ores Askern
- Hotels and similar accommodation Leiston
- Agents involved in the sale of timber and building materials Hawes
- Manufacture of other wearing apparel and accessories n e c Lowestoft
- Manufacture of prepared meals and dishes Highbridge
- Temporary employment agency activities Northwich
- Public houses and bars Longridge
- Archives activities Waltham Abbey
- Manufacture of other games and toys, n e c Reigate
- Dispensing chemist in specialised stores Coleford
- Cold forming or folding North Petherton
- Manufacture of musical instruments Farnham
- Manufacture of other articles of paper and paperboard n e c Eye
- Retail sale via mail order houses or via Internet Maryport
- Wholesale of fruit and vegetable juices, mineral water and soft drinks Framlingham
- Retail sale of automotive fuel in specialised stores Stow-on-the-Wold
- Wholesale of other food, including fish, crustaceans and molluscs Redcar
- Wholesale of agricultural machinery, equipment and supplies Hexham
Equity Release Loan To Value
The more aged you are and the sicker you are the more tax-free money you can release.
Hard to finance property variants can include properties currently undergoing substantial alterations, extensions or repairs, properties where tenants live in a self-contained part of the property, leasehold properties (England, Wales, Northern Ireland) subject to a lease length of 160 years, crofted houses and properties owned under any form of shared equity scheme.
Some of the most popular retirement finance offerings are TSB lifetime mortgages, HSBC later life borrowing schemes, Halifax equity release plans, Legal and General later life mortgages and Nationwide BS interest only mortgages for over 70s.
Hard to mortgage home 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, privately developed flats in blocks of two storeys without a lift and privately developed flats in blocks of three or four storeys without a lift.
Some of the most common loan to value ratios of Lloyds Bank interest only lifetime mortgages for over 70s, Barclays interest only lifetime mortgages for over 70s, Post Office interest only lifetime mortgages for over 70s, Legal & General interest only mortgages for over 60s, Bank of Scotland interest only mortgages for people over 60 and Nationwide Building Society pensioner mortgages over 55 are 45%, 55% and 65%.
Tough to finance property variants 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 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 that have a private water supply provided a contract is in place with an approved maintenance company for regular testing and maintenance.
Challenging to finance home variants can include rentcharges properties with a high estate rentcharge, properties without a kitchen or bathroom, properties of non-standard construction, thatched buildings and concrete frame.
How much can I borrow?
You can release 70% of your home’s value. As an example, if your house is worth £300000 you can get £210000.
It is often found to find individuals seeking out home reversion schemes, lump sum lifetime mortgages or interest-only lifetime mortgages, however, Sunlife Plans like AIG Life are keen to see evidence of your personal circumstances in the form of pension statements.
Equity Release LTV
- 50% monthly payment lifetime mortgage Royal London Equity Release
- 50% loan to value (LTV) lump sum lifetime mortgages Legal and General
- 55% loan to value (LTV) monthly payment lifetime mortgage 1st Stop Home Loans
- 40% loan to value monthly payment lifetime mortgage 1st Stop Home Loans
- 30% loan to value (LTV) monthly payment lifetime mortgage Bank of China UK
- 30% loan to value (LTV) lumpsum lifetime mortgages Equifinance
- 45% loan to value home reversion schemes West One
Areas where Lifetime Mortgages are common
- Cleobury Mortimer
- Portishead and North Weston
- South Molton
- Snaith and Cowick
- Santander Retirement Mortgage Interest Rate
- Natwest Retirement Mortgage Rates 2022
- Santander Equity Release Brokers Uk
- Lloyds Bank Equity Release Plan
- Lloyds Equity Release From Property
- Nationwide Retirement Mortgage Broker
- Santander Lifetime Mortgage Maximum Ltv
- Lloyds Bank Lifetime Mortgage No Payments
- HSBC Equity Release Retirement
- Nationwide Equity Release Mortgage
- Lloyds Lifetime Mortgage Buy To Let
- Nationwide Lifetime Mortgage Buy To Let
- Natwest Equity Release Interest Rates
- Lloyds Retirement Mortgage Age
- Halifax Equity Release Plans
The mortgage lender will want to know if the property is a Semi detached freehold house or a Leasehold flat with a share of freehold and if the resident is an Owner Occupier Primary Residence.
Pitfalls of Lifetime Mortgages
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 a broker’s fee and you could be exposed to changes in interest rates with some products.