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Concise Finance Equity Release And Lifetime Mortgages

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A new lender is available for equity release from Concise Finance, not available on the comparison sites, 2.23% MER rate with just a valuation fee and no other fees.  No early redemption penalty.  You can make monthly payments if you prefer.

  • Lifetime mortgage products with a high loan amount
  • Flexible drawdown lifetime mortgage equity release options
  • Low interest rates without lenders fees
  • Use the equity from your home to get a lump sum payment without early repayment charges for property improvements
  • Keep your full exposure to UK property prices going up
  • Help your family members with your cash reserve
  • Get advice from an equity release advisor if it is wise to pay back your credit cards

How much cash can I borrow?

You can release 60% of your property’s value. As an example, if your house is valued at £260000 you can borrow £156000.

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Halifax cash lump sum legal general never owe money than your home is worth

Popular loan to value percentages of Lloyds Bank mortgages for over 70s, HSBC mortgages over 70s, Post Office interest-only mortgages for over 60s, Legal & General equity release schemes for over 55’s, Royal Bank of Scotland mortgages for 60 plus pensioners and Nationwide low overall cost interest only mortgages over 70 are 45%, 55% and 65%.

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Appealing retirement finance offerings include Lloyds Bank pensioner mortgages, HSBC pensioner mortgages, Post Office mortgages over 70s, L&G low cost interest-only mortgages over 70 and Nationwide BS mortgages for 60 plus.

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Common loan to value ratios of LVE help to buy for over 60s, More to Life interest-only mortgages for people over 60, OneFamily retirement mortgages over 65, Yorkshire Bank mortgages for 60 plus pensioners, Metro Bank retirement interest only mortgages over 75 and Sun Life retirement mortgages over 60 are 35%, 55% and 70%. You may need to look at the overall cost plus interest and if you make repayments they is a good idea to keep the cost down.

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Some of the most common loan-to-value percentages of Virgin Money mortgages for people over 50, Shepherds Friendly retirement mortgages over 70,  Coventry Building Society interest only mortgages for over 65 year olds, Newcastle Building Society interest only mortgages for over 65-year-olds and Progressive Building Society mortgages for pensioners over 60 are 35%, 60% and 70%.

lifetime mortgage products

 

Concise Finance offers information about equity release loan products for people under 55 and over 55 years old.

Even if you still have a mortgage, we can help you release the tax-free money you need.

  • Help your family buy their first home
  • Have your dream holiday or buy a motorhome
  • Get money to improve or extend your home
  • Use finance to manage your estate or inheritance tax bill
  • Pay down debts you have and supplement your income

Concise Finance has options available for people under 55 for equity release.

Hard to mortgage property variants can include poorly maintained at the time of the valuation inspection, properties where tenants live in a self-contained part of the property, leasehold properties where the lease length is currently unacceptable, leasehold properties (with the exception of flats and maisonettes) and properties with owned solar panels.

How much does equity release cost?

Equity release mortgages is a debt secured against your home.  You will likely need to pay off your existing mortgage in full if you have one.  An equity release calculator will help you work out the costs including broker fees, lender fees, solicitor fees, arrangement fees and valuation fees.  These likely add up to several thousand pounds which will probably be added to the loan.

 

Hard-to-finance home variants can include pre-fabricated reinforced concrete (PRC), properties with single skin brickwork where the single skin comprises more than 20% of the surface area of the external walls, large concrete panel systems, studio flats outside the M25 and basement or lower ground floor flats with level access to private or communal garden space.  The most popular form of equity release is a lifetime mortgage.

The most common use of equity release is to pay off an existing mortgage or to help loved ones get on the property ladder.  The money from your home can be raised at a good interest rate without monthly repayments.

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The legal charges on the home will be in place until you die or move into long-term care when your home will be sold the remainder of your home’s value will be released to you.

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Equity release customers may find there is an effect your entitlement to means-tested state benefits could be impacted and the equity release adviser may be able to advise you and another family member on this.  This is key to your retirement planning.

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Equity release specialists will explain to you how the concept of compound interest works where the amount you owe goes up over time.  Some lenders have a repayment charge if you sell your home.  A reversion company does not offer debt they want to buy part or all of your home.

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A great lender is Santander for retirement finance products.

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Fees

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Personal Circumstances Related

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Tough to mortgage property titles can include flats of less than 30 square metres in any location, properties converted from modern commercial premises, properties without direct access to an adopted highway or which are accessed over an unmade road, properties where there is a self-contained part of the property or annexe, i.e. basement flat etc and properties that have a private water supply provided a contract is in place with an approved maintenance company for regular testing and maintenance.

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A home reversion plan or equity release mortgage can mess up your state benefits so you should consider this before you work out how much you could release.

How does equity release work?

Equity release is a way to use the market value of your home to get one lump sum of cash or regular drawdown payments.  Taking out an equity loan will depend on your property type as equity release advisers will make clear.  Lump sums are tax free.

There is a massive demand for Halifax lifetime mortgages, the old Halifax interest only lifetime mortgage and Halifax later life mortgages. A Halifax lifetime mortgage can have a very low overall cost as can Halifax equity release.