- Release tax-free money from your house with Santander Equity Release
- You don’t need to make regular monthly payments
- Use the money you release for anything you like
- Stay living in your own home
Hard to mortgage home variants can include properties where proposed building works have not yet commenced, age restricted properties, right to buy – properties in Scotland, leasehold properties (with the exception of flats and maisonettes) and properties with single skin brickwork.
Some of the most common pensioner loan products are Lloyds later life interest only mortgages over 60, Barclays Bank over 60 mortgages, Halifax mortgages for 60 plus pensioners, Legal and General mortgages for 60 year olds and Nationwide Building Society over 60 mortgages.
Difficult to finance property variants include Timber-framed properties constructed post-1965, properties with spray foam insulation applied to the underside of the roof, properties with minimum floor area of 30 square metres, privately developed flats in blocks of two storeys without a lift and freehold flats (England, Wales, Northern Ireland).
Some of the most common loan to value percentages of Lloyds interest only lifetime mortgages for people over 60, Barclays mortgages for over 60s, Natwest mortgages over 65, Legal & General later life borrowing schemes over 55, Royal Bank of Scotland later life mortgages for over 60s and Nationwide BS RIO mortgages over 75 are 40%, 60% and 65%.
Challenging to mortgage home variants can include flats of less than 30 square metres in any location, properties with a large number/scale of outbuildings, use of the land and any outbuildings for a small amount of personal commercial use., properties that have solar farms or a large number of wind turbines on the land and properties adversely affected by existing or proposed issues including roads, rail, airports, power plants, power lines/pylons, wind turbines, sub stations, sewage works, quarries, fuel stations, refuse sites, sports grounds, noise, light or environmental pollution.
Tough to mortgage 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, property is uninhabitable, timber buildings and concrete frame.
How much can I borrow?
You can achieve 70% of your property’s value. As an example, if your home is worth £250000 you can get £175000.
How much is it common to release from a home
- 55% lifetime mortgage with flexible drawdown cash release The Exeter Equity Release
- 40% loan to value lumpsum lifetime mortgages Stonehaven Mortgage
- 55% loan to value (LTV) lump sum lifetime mortgages Legal and General
- 50% loan to value (LTV) lumpsum lifetime mortgages Norton Finance
- 25% loan to value lumpsum lifetime mortgages Bank of Ireland
- 25% loan to value monthly payment lifetime mortgage Masthaven
- 60% loan to value lumpsum lifetime mortgages 1st Stop Home Loans
- 30% loan to value lump sum lifetime mortgages Aldermore Bank PLC
Equity Release percentages of your current property value
The more aged you are and the more illnesses you have you are the more cash you can release.
Areas in the UK where Santander Equity Release is common
- Bury St Edmunds
- North Hykeham
- Wood Green
Equity Release UK Providers
- Legal and General
- New Life
- Legal & General
- Lloyds Equity Release Mortgage
- Santander Retirement Mortgage Broker
- Natwest Lifetime Mortgage Calculator
- Santander Lifetime Mortgage Rates 2022
- Lloyds Bank Lifetime Mortgage Reviews
- Halifax Equity Release On Second Homes
- Nationwide Equity Release
- Lloyds Lifetime Mortgage Buy To Let
- Nationwide Retirement Mortgage Comparison
- Santander Equity Release Scheme
- Lloyds Bank Equity Release Plan
- HSBC Retirement Mortgage Interest Rate
- HSBC Lifetime Mortgage Broker
- Halifax Retirement Mortgage Reviews
- HSBC Equity Release From Property
Small business owners detail likely with equity to release from their homes with Santander Equity Release
- Manufacture of jewellery and related articles Wath-upon-Dearne
- Seed processing for propagation Andover
- Operation of rail freight terminals Great Yarmouth
- Machining Tamworth
- Retail sale of carpets, rugs, wall and floor coverings in specialised stores Settle
- Renting and leasing of recreational and sports goods Penwortham
- Retail sale of fish, crustaceans and molluscs in specialised stores West Bedlington
- Growing of pome fruits and stone fruits Cleethorpes
- Manufacture of prepared pet foods Fordingbridge
- Wholesale of other office machinery and equipment Skelmersdale
- Retail sale via stalls and markets of food, beverages and tobacco products Whitehill
- Quarrying of ornamental and building stone, limestone, gypsum, chalk and slate Tavistock
- Dismantling of wrecks Wallsend
- Processing and preserving of poultry meat Harrogate
- Extraction of crude petroleum Wolsingham
- Mining of uranium and thorium ores Surbiton
- Retail sale of beverages in specialised stores Newton Abbot
- Renting and leasing of passenger water transport equipment Grantham
- Publishing of computer games North Hykeham
- Agents involved in the sale of food, beverages and tobacco Richmond
- Processing and preserving of potatoes Stockport
- Hodge Equity Release Plans
- L&G Legal & General Flexible Max Scheme
- More2Life Flexi Choice Voluntary Payment Super Lite
- Royal Bank of Scotland Equity Release
- Saga home reversion plan
- Age Partnership Interest Only Lifetime Mortgage
- Aviva Equity Release Schemes
- Stonehaven Equity Release Plan
- Nationwide Interest Only Lifetime Mortgage
- TSB Equity Release Plans
- NatWest Interest Only Lifetime Mortgage
- Age Partnership Lifetime Mortgage
- Santander Equity Release
- Bridgewater Equity Release
- Hodge Indexed Lifetime Mortgage
- Liverpool Victoria LV= Lump Sum Plus Lifetime Mortgage
- Royal Bank of Scotland Equity Release Schemes
- L&G Legal & General Flexible Plus Lifetime Mortgage
- Liverpool Victoria LV Equity Release Plans
- Stonehaven Interest Only Lifetime Mortgage
- Nationwide Interest Only Lifetime Mortgage
- NatWest Equity Release Plans
- Saga Equity Release Plans
Disadvantages of Santander equity release
A monthly payment lifetime mortgage can reduce the value of your estate. Lumpsum lifetime mortgages may impact entitlements to benefits. You may need to pay a legal fee and some products expose you to changes in interest rates.
It’s very regular to encounter people seeking out monthly payment lifetime mortgage, monthly payment lifetime mortgage or monthly payment equity release, however, Key Solutions like The Exeter Equity Release are keen to see paperwork to show your personal situation in the form of pension statements.
The lender will want to know if the property is a Freehold terraced house or a Leasehold flat and if the resident is an AST Tenant.