Release tax-free money from your home- No regular monthly payments
- Use the money to buy another house
- Stay living in your own home
- Often used as a vehicle to reduce tax bills
Recently completed mortgage, equity release and lifetime mortgage cases
Julia A
My mother has dementia. With my solicitor and my power of attorney, I got equity release on my mother’s house to pay for specialist modifications for her comfort.
Mrs M from Birmingham
With no brokers fees and no lenders fees, I got an interest-only retirement mortgage which I pay each month from my private pension. The money released went to my daughter for her wedding and deposit for her next house. She wanted a family, and her flat was too small.
Mrs E from London
My mortgage needed to be repaid to the existing lender. I thought I was going to lose my house. Thanks to Concise I got equity release to pay off my mortgage.
William from London
I was told by my lawyer my inheritance tax bill would be around £250,000. I got a lifetime mortgage to give money to my son and daughter so they could buy bigger homes and we bought a house in the south of France for us all to use as a holiday home.
Mr Smith from Kendal
My financial advisor told me that I should get equity release and gift money to my 5 children now as it would save a massive amount of inheritance tax.
David P
With my power of attorney, I got equity release on my father’s house to pay for disability provisions including a lift and a new kitchen.
Mr G from Kent
I got an interest-only lifetime mortgage and gave my sons £100,000 each so they could put a deposit down on a home. My money made it possible for them to get a very good mortgage deal, especially one son who is not well paid.
Mrs Shaw from Lancaster
I had an interest-only mortgage with Birmingham Midshires. The mortgage had come to the end of its term and they wanted the £127000 back I still owed them. My lifetime mortgage saved me from losing my home and the rate was close to what I paid before.
Sophie G from Aberdeen
The financial advisor I’ve had for 25 years said I could save inheritance tax by getting £350,000 of equity release. The money was lent at a very low-interest rate close to 2% and competitive with normal mortgages you would get by proving income. I have saved a lot of tax.
Mrs Daly from Glasgow
My daughter lives in the states and does not have health insurance. My £30,000 lifetime mortgage paid the medical bills for her son to be born and a years rent in advance for a new flat for the baby.
Mrs V from Hastings
I had spent my life running up credit cards and loans then getting interest-only mortgages to pay off the debt. I got to retirement age and still owed the bank £160,000. The term was about to expire, and I could not afford the payments on my pension anyway. I got £180,000 equity release and now I am more comfortable with no monthly repayments and I spent £20,000 on a new bathroom and kitchen. I now know I can stay in my home.
Sandra from Manchester
I got equity release to give money to my daughter to buy a house. Without the money I borrowed, her buying a home would have been impossible.
Mrs E from London
I was advised to get equity release from my East London home to minimise inheritance tax. My son and daughter used the money to pay down their mortgages. The interest rate on the equity release was so low it was close to their mortgage rate.
Mr Williamson from Chiswick
My son is a chef in a care home. He is not well paid. No way his bank would lend him the money to buy a flat. My equity release enabled him to put a substantial deposit down so his mortgage was very small. My equity release interest rate was close to his interest rate offered by his bank.
Mrs G from Leeds
My daughter is a single mother, and I got a £120,000 lifetime mortgage to buy her a flat outright as she has had a succession of poorly maintained rental flats not suitable for her child.
Ms G from Dover
I divorced my husband who was a violent alcoholic. I really feared losing my home as I sometimes look after my daughter’s children. Equity release enabled me to pay off my ex and stay secure in my home.
Mrs L from Nottingham
I had to pay a valuation fee and a solicitor’s fee, but no lender or broker fees for my lifetime mortgage. As I was divorcing my husband of 30 years the money went to him for his share of the house. I am happy now as I am secure, and I do not need to move from my home.
Ms T from Hammersmith
My husband recently died leaving me with a mortgage I could not afford to pay. The lifetime mortgage allowed me to pay off the mortgage and have enough money left over for a new bathroom, kitchen, and roof repair.
UK Equity Release Scheme Lenders
- Age Concern
- One Family
- Lifetime Mortgage from L&G
- Crown
- The Exeter Equity Release
- Canada Life Landlord Voluntary Select Plan
- Liverpool Victoria LV= Lump Sum Plus Lifetime Mortgage
- More2Life Flexi Choice Drawdown Lite Plan
- Stonehaven Equity Release Plan
- Lloyds Bank Equity Release
- Royal Bank of Scotland Equity Release Schemes
- Age Partnership Equity Release Schemes
- Hodge Lifetime Flexible Voluntary Repayment Plan
- L&G Legal & General Flexible Max Plus
- Pure Retirement Equity Release Plans
- Lloyds Bank Lifetime Mortgage
- Royal Bank of Scotland Lifetime Mortgage
- More2Life Capital Choice Plan
- Hodge Lifetime Mortgage Flexible Drawdown Plan
- Just retirement equity release key features
- Stonehaven Equity Release Plan
- Nationwide Interest Only Lifetime Mortgage
- TSB Equity Release Schemes
- L&G Legal & General Flexible Plus Lifetime Mortgage
- Stonehaven Lifetime Mortgage
- Nationwide Interest Only Lifetime Mortgage
- Lloyds Bank Equity Release
- Lloyds Bank Lifetime Mortgage Reviews
- HSBC Lifetime Mortgage Over 55
- Santander Equity Release Mortgage
- Lloyds Lifetime Mortgage Drawdown Scheme
- Lloyds Bank Retirement Mortgages Interest Only
- HSBC Retirement Mortgage Interest Rate
- Halifax Lifetime Mortgage On Second Property
- Lloyds Equity Release Brokers Uk
- Santander Lifetime Mortgage
- Nationwide Equity Release Mortgage
- Natwest Retirement Mortgage Home
- Santander Retirement Mortgage Advice
- Natwest Lifetime Mortgage Advisers
- Halifax Retirement Mortgage Interest Only
- Lloyds Retirement Mortgage Interest Rate
- Nationwide Retirement Mortgage Calculator
- Nationwide Lifetime Mortgage Reviews
- Halifax Equity Release Retirement
- HSBC Equity Release Retirement
Towns where equity release is popular
- Hatfield
- Norton-on-Derwent
- Cotgrave
- Sittingbourne
- Launceston
- Crowle
- Boroughbridge
- Leigh-on-Sea
- Haverhill
- Easingwold
- Castleford
It is common to find people looking for monthly payment lifetime mortgage, monthly payment lifetime mortgage or home reversion schemes, however, Bower like VitalityLife Equity Release are keen to see evidence of your circumstances in the form of investment statements.
Drawbacks of Home Reversion Plans
A monthly payment lifetime mortgage can reduce the value of your estate. A monthly payment lifetime mortgage may impact the ability to claim entitlements. You may need to pay a broker’s fee and you could have higher rates to pay with some schemes.
Retired small business owners that may be interested in lifetime mortgages
- Roofing activities Tynemouth
- Repair and maintenance of ships and boats Raunds
- Manufacture of tubes, pipes, hollow profiles and related fittings, of steel Halesowen
- Repair of personal and household goods n e c Whitehill
- News agency activities Chard
- Television programme distribution activities Heywood
- Renting and leasing of passenger water transport equipment Polegate
- Support activities to performing arts Partington
- Retail sale of newspapers and stationery in specialised stores Wolsingham
- Motion picture production activities Trowbridge
- Farm animal boarding and care Brading
- Sawmilling and planing of wood Alston
- Renting and leasing of air passenger transport equipment Bedworth
- Manufacture of other tanks, reservoirs and containers of metal Beaconsfield
- Wholesale of radio, television goods & electrical household appliances other than records, tapes, CD’s & video tapes and the equipment used for playing them Coalville
- Operation of warehousing and storage facilities for land transport activities Fleetwood
- Holiday centres and villages Horsforth
- Steam and air conditioning supply Moreton-in-Marsh
The lender will want to know if the property is a Semi detached freehold house or a Leasehold flat with share of freehold and if the resident is an Assured shorthold tenancy tenant.
Equity Release LTV
- 60% lifetime mortgage with flexible drawdown cash release LV Liverpool Victoria
- 25% LTV lumpsum lifetime mortgages Masthaven
- 40% loan to value lump sum lifetime mortgages Saga
- 25% loan to value home reversion plans Masthaven
- 40% loan to value lump sum lifetime mortgages United Trust Bank
- 30% loan to value (LTV) home reversion plans 1st Stop
How much is it common to release from a home
The older you are and the more illnesses you have you are the more money you can release.
