- Remove money from your property
- No need to make monthly payments
- Help your family to buy a home
- Continue to stay in your house for as long as you like
- Could be used to help tax planning
- Nationwide Retirement Mortgage Interest Rates
- Natwest Retirement Mortgage Calculator
- Santander Equity Release Loan
- Santander Lifetime Mortgage Calculator
- Nationwide Lifetime Mortgage Buy To Let
- HSBC Retirement Mortgage Uk
- HSBC Lifetime Mortgage Rates 2022
- Lloyds Bank Retirement Mortgages Advice
- Halifax Retirement Mortgage Loan
- Natwest Equity Release
- Lloyds Bank
- HSBC Equity Release Advice
- Lloyds Bank Equity Release Plans
- Nationwide Equity Release Plan
- Lloyds Retirement Mortgage House
- Halifax Equity Release From House
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 Assured shorthold tenancy tenant.
Crown Drawdown Lifetime Mortgages
LV Drawdown Lifetime Mortgages
Equity Release Loan To Value
- 50% lifetime mortgage with flexible drawdown cash release The Exeter Equity Release
- 50% loan to value lifetime mortgage with flexible drawdown cash release Bower
- 25% loan to value home reversion schemes Holmesdale Building Society
- 40% loan to value home reversion plans Step Change
- 25% loan to value (LTV) home reversion schemes Fleet Mortgages
- 40% loan to value (LTV) interest-only lifetime mortgages West One
- 30% loan to value lumpsum lifetime mortgages Vida Homeloans
Towns in the UK where retirement mortgages are routine
- Bradley Stoke
- Wellington
- Cullompton
- Wood Green
- Haverhill
- Godalming
- Cannock
- Halewood
- Mildenhall
- Middleham
- Hingham
- Leek
- Somerton
- Macclesfield
- Ulverston
- Southend-on-Sea
Examples of retired business owners likely to have equity to release
- Raising of sheep and goats Liskeard
- Manufacture of cocoa and chocolate confectionery Seaford
- Physical well-being activities Horwich
- Manufacture of central heating radiators and boilers Newark-on-Trent
- Manufacture of prepared meals and dishes St Ives
- Agents involved in the sale of a variety of goods Maidenhead
- Construction of roads and motorways Corbridge
- Manufacture of women’s underwear Preesall
- Repair of furniture and home furnishings Marlborough
- Raising of dairy cattle Clun
- Manufacture of non-electronic measuring, testing etc equipment, not for industrial process control Holsworthy
- Other activities of employment placement agencies Eton
- Photographic activities not elsewhere classified Whittlesey
- Retail sale of flowers, plants, seeds, fertilizers, pet animals and pet food in specialised stores Stanhope
- First-degree level higher education Leighton-Linslade
- Public relations and communications activities Horley
- Cultural education Portishead and North Weston
- Manufacture of soft furnishings Redcar
- Manufacture of other fabricated metal products n e c Minehead
- Residential care activities for learning difficulties, mental health and substance abuse Whaley Bridge
- Engineering related scientific and technical consulting activities Colyton
Hard to finance property types include properties in the course of construction or pre-construction, properties where the ownership is set up on a tenancy in common basis, right to buy – properties in England, Wales and Northern Ireland, properties with unregistered titles subject to these being registered as part of the legal process and properties with leased solar panels.
Some of the most common retirement finance offerings are Lloyds interest only retirement mortgages for over 70s, Barclays over 60 lifetime mortgages, Natwest equity release schemes, Legal and General pensioner mortgages and Nationwide Building Society retirement interest only mortgages.
Difficult to finance home variants include properties with post 1945 asbestos or similar composition roof tiles , properties with single skin brickwork where the single skin comprises more than 20% of the surface area of the external walls, properties with minimum floor area of 30 square metres, 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.
Common loan to values of Lloyds Bank interest only mortgages for over 65 year olds, Barclays lifetime mortgages for over 60s, Halifax later life interest only mortgages over 70, Legal & General interest only lifetime mortgages for over 60s, Royal Bank of Scotland mortgages for over 65 and Nationwide retirement interest only mortgages over 60 are 40%, 55% and 65%.
Challenging to finance property variants can include properties with outbuildings used for normal domestic purposes (garage, workshop, stables, barn etc), properties converted from modern commercial premises, properties without direct access to an adopted highway or which are accessed over an unmade road, properties that are being used for personal commercial use and properties with mobile phone masts which are within influencing distance of the house.
Tough to finance home titles include high service charges, properties close to mining works, areas of landfill, areas of recent flooding or subsidence, some properties with sitting tenants or regulated tenancies, thatched buildings and concrete frame.
How much cash can I release?
You can get 70% of your home’s valuation. As an example, if your house is worth £310000 you can get £217000.
Equity Release Loan To Value
The more elderly you are and the more serious your illnesses you are the more tax-free money you can release.
- Hodge Lifetime Flexible Drawdown Plan
- Hodge Lifetime Flexible Drawdown Plan
- Stonehaven Equity Release Scheme
- Lloyds Bank Equity Release Schemes
- HSBC Equity Release Schemes
- More2Life Tailored Choice Plan
- More to Life Capital Choice Plan
- Stonehaven Equity Release Scheme
- Nationwide Equity Release
- Saga Equity Release Schemes
- More 2 Life Flexi Choice Voluntary Payment Super Lite
UK Providers for Equity Release
- Lifetime Mortgage from L&G
- Stonehaven
- Age Concern
Downsides of Home Reversion Plans
A monthly payment lifetime mortgage can reduce the inheritance for your family. Lifetime mortgage with flexible drawdown cash release may impact entitlements to benefits. You may need to pay a valuation fee and you could be exposed to changes in interest rates with some products.
It’s very regular to find people searching for monthly payment lifetime mortgage, lumpsum lifetime mortgages or lifetime mortgage with flexible drawdown cash release, however, Key Retirement like Zurich are keen to see paperwork to show your circumstances in the form of investment statements.
