- Remove money from your property
- Not necessary to make regular monthly payments
- Use the money to buy another property
- Continue to live in your own home
Downsides of Home Reversion Schemes
Lumpsum lifetime mortgages can reduce the inheritance for your family. A monthly payment lifetime mortgage may impact the ability to claim benefits. You may need to pay a legal fee and you could be exposed to changes in interest rates with some products.
- Bridgewater Equity Release Schemes
- Canada Life Equity Release Schemes
- Nationwide Equity Release Plans
- TSB Equity Release Schemes
- Just Retirement Equity Release Schemes
- Age Partnership Equity Release Schemes
- More2Life Flexi Choice Drawdown Lite Plan
- Hodge Indexed Lifetime Mortgage
- Just retirement equity release key features
- L&G Legal & General Flexible Plus Lifetime Mortgage
- Nationwide Interest Only Lifetime Mortgage
- HSBC Lifetime Mortgage
- Just retirement equity release key features
- Liverpool Victoria LV= Lump Sum Plus Lifetime Mortgage
- More to Life Capital Choice Plus Plan
- Pure Retirement Drawdown Plan
- Saga home reversion plan
- Age Partnership Equity Release
- Halifax Equity Release
- HSBC Lifetime Mortgage Broker
- Lloyds Equity Release Interest Rates
- Natwest Retirement Mortgage Loan
- Santander Lifetime Mortgage Drawdown Scheme
- Lloyds Lifetime Mortgage Comparison
- Lloyds Bank Retirement Mortgages Rates 2022
- Nationwide Equity Release Advice
- Lloyds Bank Lifetime Mortgage Reviews
- Santander Retirement Mortgage Uk
- Natwest Equity Release Plans
- Halifax Retirement Mortgage Interest Rate
- Lloyds Retirement Mortgage Comparison
- HSBC Equity Release Drawdown
- Lloyds Bank Equity Release Brokers Uk
Equity Release Loan To Value
The more elderly you are and the more serious your illnesses you are the more money you can release.
Difficult to finance property variants include properties where proposed building works have not yet commenced, properties where multiple third parties are living in an annexe, feuhold/freehold properties (including flats) in Scotland, commonhold properties and freehold flats (England, Wales, Northern Ireland).
Some of the most popular pensioner loan products are TSB interest only lifetime mortgages, Barclays Bank mortgages for pensioners, Post Office retirement interest only mortgages, L&G later life interest only mortgages over 70 and Nationwide Building Society interest only mortgages for people over 70.
Difficult to finance home variants include timber-framed properties built before 1920, properties with spray foam insulation applied to the underside of the roof, properties with a 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.
Popular loan to value percentages of Lloyds mortgages for pensioners over 60, Barclays equity release plans for people over 60, Natwest RIO mortgages over 75, Legal & General later life interest only mortgages over 75, Royal Bank of Scotland mortgages for over 50 year olds and Nationwide equity release plans for people over 60 are 45%, 55% and 65%.
Challenging to finance home variants can include flats of less than 30 square metres in any location, properties with a single annexe or other self-contained parts of the property, properties with more than one annexe or self-contained part of the property, 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 titles can include properties with legal agreements such as Overage, Clawback, Option, Pre-emption, or any onerous Restrictive Covenant, properties without a kitchen or bathroom, properties with structural problems, cob property and concrete frame.
How much cash can I release?
You can release 65% of your home’s valuation. As an example, if your house is worth £360000 you can borrow £234000.
It is usual to encounter people searching for home reversion plans, lumpsum lifetime mortgages or home reversion plans, however, Bower like Maximum cover Equity Release are keen to see evidence of your circumstances in the form of investment statements.
Areas where retirement mortgages are popular
- Chipping Campden
- Kirkby Stephen
- Houghton Regis
- Burton Latimer
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 an Assured shorthold tenancy tenant.
Equity Release LTV Percentages
- 50% lumpsum lifetime mortgages Old Mutual Wealth
- 25% LTV monthly payment lifetime mortgage Shawbrook
- 60% loan to value (LTV) lumpsum lifetime mortgages Paragon Personal Finance
- 55% LTV monthly payment lifetime mortgage Sunlife Plans
- 40% loan to value home reversion schemes Pepper
- 45% loan to value home reversion plans Pepper
Examples of retired small business owners likely to have equity to release
- Other reservation service activities n e c Chatteris
- Retail sale of mobile telephones Epsom and Ewell
- Aluminium production Chard
- Manufacture of industrial gases Ferndown
- Manufacture of bearings, gears, gearing and driving elements Brightlingsea
- Activities auxiliary to financial intermediation n e c Alton
- Other telecommunications activities Kirkby Stephen
- Activities of call centres Saxmundham
- Wholesale of wood, construction materials and sanitary equipment Warminster
- Striking of coins Burntwood
- Manufacture of other games and toys, n e c Towcester
- Reproduction of computer media Totton and Eling
- Life insurance Darwen
- Renting and leasing of passenger water transport equipment Cleator Moor
- Wholesale of meat and meat products Yateley
- Retail sale of textiles in specialised stores Watchet
- Sports and recreation education Rochester
- Production of coffee and coffee substitutes Banbury
- Retail trade of motor vehicle parts and accessories Great Dunmow
- Repair of electrical equipment Doncaster
- Wholesale of mining, construction and civil engineering machinery Woburn Sands
UK Providers for Equity Release
- Legal and General
- Stonehaven Mortgage
- Key Retirement
- AA equity release