- Remove money from your home
- No monthly payments
- Help a family member buy their own home with a modest mortgage
- Continue to live in your own house
Retired business owners that may be interested in lifetime mortgages
- Raising of other animals Wadhurst
- Activities auxiliary to financial intermediation n e c Moretonhampstead
- Reproduction of computer media Ferryhill
- Manufacture of homogenized food preparations and dietetic food Gosport
- Activities of conference organisers Yateley
- Manufacture of breakfast cereals and cereals-based food Blackburn
- Manufacture of women’s underwear Whitworth
- Other residential care activities n e c Workington
- Post-graduate level higher education Tow Law
- Wholesale of tobacco products Minehead
- Disinfecting and exterminating services Burgh-le-Marsh
- Manufacture of optical precision instruments Wimborne Minster
- Freshwater fishing Dunstable
- Wholesale of watches and jewellery Bletchley and Fenny Stratford
- Renting and leasing of recreational and sports goods Chatham
- Renting and leasing of trucks and other heavy vehicles Farnborough
- Other telecommunications activities Stalham
- Wholesale of fruit and vegetables High Wycombe
- Other education n e c Paddock Wood
- Manufacture of paper and paperboard Melksham
- Child day-care activities Keynsham
Its often found to find individuals looking for home reversion schemes, lumpsum lifetime mortgages or monthly payment equity release, however, Key Solutions like Aegon are keen to see paperwork to show your personal circumstances in the form of investment statements.
Hard to mortgage home types include homes requiring essential repairs, properties where letting arrangement where the tenancy agreement is not appropriate, right to buy – properties in Scotland, crofted houses and properties with owned solar panels.
Appealing retirement mortgage products are Lloyds mortgages for 60 plus, Barclays Bank mortgages for 60 plus, Post Office mortgages for pensioners, Legal and General interest only lifetime mortgages and Nationwide pensioner mortgages.
Difficult to mortgage property types can include timber framed properties built before 1920, properties with any external treatment applied to the roof after construction, privately developed flats, maximum four storeys with a lift, privately developed flats in blocks of five storeys or more and basement or lower ground floor flats without level access to private or communal garden space.
Some of the most common loan to value ratios of Lloyds Bank later life interest only mortgages over 70, HSBC over 60 lifetime mortgages no fees, Halifax interest only retirement mortgages for over 70s, Legal and General retirement mortgagesover 65, Bank of Scotland equity release schemes for people over 70 and Nationwide Building Society mortgages for pensioners over 60 are 45%, 60% and 70%.
Tough to finance property variants include properties built or converted into dwellings within the last 10 years , properties with room(s) or outbuilding(s) used for a small amount of personal commercial use, properties with a small number of solar panels or a wind turbine on the land for domestic use, properties where there is a self-contained part of the property or annexe, i.e. basement flat etc and properties in coastal areas that may be affected by erosion.
Challenging to finance home titles include properties built on contaminated land, leasehold properties with a short lease, typically less than 70 years, or a defective lease, derelict property or where part of the building is in severe disrepair and needs demolishing, timber buildings and Reema Hollow panel, Schindler and Hawksley SGS, Stent, Stonecrete, Stour, Tarran, Underdown, Unity and Butterley, Waller, Wates, Wessex, Winget and Woolaway.
How much can I get?
You can achieve 70% of your property’s value. For example, if your house is worth £260000 you can borrow £182000.
UK Equity Release Lenders
- the Telegraph
- Lloyds Equity Release Plans
- Natwest Lifetime Mortgage Calculator
- Halifax Equity Release Mortgage
- Lloyds Bank
- Santander Lifetime Mortgage Buy To Let
- HSBC Retirement Mortgage Age
- Halifax Lifetime Mortgage Reviews
- Nationwide Equity Release From House
- Santander Retirement Mortgage
- HSBC Lifetime Mortgage Comparison
- Lloyds Lifetime Mortgage Fixed Rate
- Natwest Equity Release Brokers Uk
- Halifax Retirement Mortgage Uk
- Lloyds Bank Lifetime Mortgage Buy To Let
- HSBC Equity Release From Property
- Bridgewater Equity Release
- Stonehaven Lifetime Mortgage
- Lloyds Bank Equity Release Plans
- TSB Equity Release
- Saga Lifetime Mortgage
- More2Life Flexi Choice Voluntary Payment Super Lite
- Hodge Lifetime Flexible Drawdown Plan
- L&G Legal & General Flexi Max Voluntary Repayment Plan
- Nationwide Equity Release Plans
- HSBC Equity Release Plans
- Lloyds Bank Equity Release Schemes
- NatWest Equity Release Schemes
- Age Partnership Equity Release
- Pure Retirement Equity Release
- Stonehaven Interest Select Plan
- L&G Legal & General Flexible Max Plus
- More2Life Capital Choice Plan
- Stonehaven Equity Release Scheme
- Royal Bank of Scotland Equity Release Schemes
- Age Partnership Equity Release Schemes
The 1st and 2nd charge 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.
Areas in the UK where retirement mortgages are routine
Equity Release LTV
The more aged you are and the more illnesses you have you are the more money you can release.
Pitfalls of Home Reversion Schemes
Lump-sum 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 valuation fee and you could be exposed to changes in interest rates with some products.
How much is it common to release from a home
- 50% monthly payment lifetime mortgage Aegon
- 60% loan to value monthly payment lifetime mortgage Precise
- 35% loan to value (LTV) home reversion schemes Optimum Credit
- 55% loan to value monthly payment equity release Precise
- 40% loan to value home reversion schemes Pepper
- 30% loan to value (LTV) lumpsum lifetime mortgages Cambridge Building Society