- Release tax-free money from your house with Santander retirement mortgages
- No need to make monthly payments
- Use the money for home improvements
- Continue to stay in your house
- Could be a vehicle to reduce tax bills
Towns of the UK where equity release is routine
- Horsforth
- Ilkley
- West Malling
- Cleckheaton
- Withernsea
- Rugeley
- Cleckheaton
- Thaxted
- Thornaby-on-Tees
- Coleshill
- Royston
- Droitwich Spa
Pitfalls of Equity Release Plans
Interest-only lifetime mortgages can reduce the inheritance for your family. Home reversion schemes may impact the ability to claim benefits. You may need to pay an advisor’s fee, and you could have higher rates to pay with some plans.
UK Equity Release Scheme Lenders
- Key Retirement
- LV lifetime mortgage
- Key Retirement
- Zurich
- Liverpool Victoria LV= Flexible Lifetime Mortgage
- HSBC Interest Only Lifetime Mortgage
- Lloyds Bank Lifetime Mortgage
- TSB Equity Release Schemes
- Saga home reversion plan
- More2Life Capital Choice Plan
- Just Retirement Equity Release
- HSBC Equity Release Schemes
- Lloyds Bank Equity Release
- More 2 Life Flexi Choice Drawdown Lite Plan
- Age Partnership Equity Release Schemes
- More 2 Life Flexi Choice Drawdown Lite Plan
- Lloyds Bank Equity Release Plans
- NatWest Lifetime Mortgage
- Just Retirement Equity Release
- More2Life Capital Choice Plan
- Age Partnership Equity Release Plans
Equity Release LTV
The more elderly you are and the unhealthier you are, the more cash you can release.
Hodge Lifetime Lifetime Mortgages
Wealthy business owners who could benefit from equity release tax planning
- Research and experimental development on biotechnology Totton and Eling
- Business and domestic software development Petersfield
- Manufacture of electronic measuring, testing etc. equipment, not for industrial process control East Retford
- Liquid milk and cream production Crosby
- Manufacture of plastics in primary forms Brampton
- Hospital activities Kidderminster
- Reproduction of computer media Steyning
- Test drilling and boring Middlewich
- Activities of racehorse owners Howden
- Manufacture of electricity distribution and control apparatus Tadcaster
- Activities of mortgage finance companies Wiveliscombe
- Hairdressing and other beauty treatment Dawlish
- Operation of gravel and sand pits; mining of clays and kaolin Cleobury Mortimer
- Butter and cheese production Whitnash
- Manufacture of cider and other fruit wines Faversham
- Manufacture of taps and valves Coalville
- Manufacture of other plastic products Cleckheaton
- Activities of amusement parks and theme parks Axbridge
- Other holiday and other collective accommodation North Walsham
- Wholesale of waste and scrap Leyburn
- Other amusement and recreation activities n e c Lewes
Hard to mortgage home variants can include properties in the course of construction or pre-construction, age restricted properties, leasehold properties (England, Wales, Northern Ireland) subject to a lease length of 160 years, properties with unregistered titles subject to these being registered as part of the legal process and properties where the borrower(s) own the freehold with any connected party.
Common pensioner finance products are Lloyds retirement interest only mortgages, Barclays Bank retirement interest only mortgages, Natwest interest only mortgages for over 60s near London, L&G interest only mortgages for over 60s and Nationwide Building Society retirement mortgages.
Hard to mortgage home variants include difficult roof structures, properties with any externally applied insulation to the walls after construction, steel frame/clad properties built before 1990, freehold/feuhold flats (Scotland only) and basement or lower ground floor flats with level access to private or communal garden space.
Some of the most common LTV ratios of Lloyds Bank interest only mortgages for people over 70, Barclays Bank RIO mortgages over 75, Post Office later life borrowing schemes over 55, Legal & General later life mortgages for over 70s, Royal Bank of Scotland later life mortgages for over 60s and Nationwide Building Society mortgages for pensioners over 60 are 35%, 55% and 70%.
Challenging to mortgage home titles include properties built or converted into dwellings within the last 10 years , properties converted from modern commercial premises, properties with a small number of solar panels or a wind turbine on the land for domestic use, properties with mobile phone masts which are not within influencing distance of the house and properties in coastal areas that may be affected by erosion.
Challenging to finance property titles can include high service charges, high service charges – properties where the Service Charge per annum at the time of application is more than 2% of the property value, property is uninhabitable, corrugated iron construction and concrete frame.
Loan to value for equity release?
You can achieve 60% of your property’s valuation. As an example, if your house is worth £290000 you can get £174000.
It is common to encounter people searching for lump sum lifetime mortgages, lumpsum lifetime mortgages or home reversion plans. However, Lifetime Mortgage from L&G like Maximum cover Equity Release is keen to see evidence of your personal circumstances in the form of bank statements.
- HSBC Lifetime Mortgage Interest Only Rates
- Nationwide Retirement Mortgage Age
- Natwest Lifetime Mortgage Interest Only Rates
- Lloyds Bank Lifetime Mortgage Drawdown Scheme
- Santander Lifetime Mortgage
- Halifax Equity Release Interest Rates
- Natwest Equity Release Retirement
- Lloyds Bank Retirement Mortgages Rates 2022
- Lloyds Retirement Mortgage Uk
- Halifax Retirement Mortgage Comparison
- Nationwide Lifetime Mortgage Interest Only Rates
- Halifax Lifetime Mortgage Buy To Let
- Nationwide
- Santander Retirement Mortgage Interest Rate
- Lloyds Bank Equity Release Interest Rates
- Santander Equity Release Plans
The lender will want to know if the property is a Detached freehold house or a Leasehold house and if the resident is an Owner Occupier.
How much is it common to release from a home with Santander retirement mortgages
- 50% lumpsum lifetime mortgages The Exeter Equity Release
- 35% LTV interest-only lifetime mortgages Norwich Union
- 30% LTV monthly payment lifetime mortgage Darlington
- 45% LTV lumpsum lifetime mortgages Shawbrook
