- Pay 2.13% interest rate
- You don’t need to make regular monthly payments unless you prefer to
- Use the money for a holiday
- Stay living in your own house for as long as you like
- Can be used to help tax planning
How much money can I borrow?
You can borrow 60% of your home’s value. As an example, if your house is valued at £330000 you can get £198000.
It’s common to discover individuals seeking out lumpsum lifetime mortgages, lump sum life time mortgages or home reversion schemes, however, Key Solutions like AA equity release are keen to see proof of your personal circumstances in the form of pension statements.
Towns in the UK where retirement mortgages are common
- Wimborne Minster
- Bury St Edmunds
How much is it common to release from a home
The older you are and the sicker you are the more money you can release.
The 1st and 2nd charge lender will want to know if the property is a Detached freehold house or a Leasehold flat with share of freehold and if the resident is an Assured shorthold tenancy tenant.
Challenging to finance property variants include rentcharges properties with a high estate rentcharge, leasehold properties with a short lease, typically less than 70 years, or a defective lease, properties of non-standard construction, corrugated iron construction and Airey, Boot, Cornish Unit, Dorran, Dyke, Gregory, Hamish Cross, Myton, Newland, Orlit and Parkinson Frame.
Tough to mortgage property titles can include properties with land in addition to the domestic grounds up to a maximum property size of five acres, where the land is for normal domestic use, properties with a large number/scale of outbuildings, grades l and ll* Listed Buildings in England & Wales (Grades A and B in Scotland; A, B+ and B1 in Northern Ireland), properties that are being used for personal commercial use and properties in coastal areas that may be affected by erosion.
Difficult to finance home types can include properties with post 1945 asbestos or similar composition roof tiles , properties with any externally applied insulation to the walls after construction, steel frame/clad properties built before 1990, studio flats outside the M25 and basement or lower ground floor flats without level access to private or communal garden space.
Hard to mortgage property variants include poorly maintained at the time of the valuation inspection, properties where tenants live in a self-contained part of the property, freehold houses and bungalows (England, Wales, Northern Ireland), properties where the customer is offering only part of the title as security for the loan and properties with owned solar panels.
Popular loan to value percentage ratios of Standard Chartered retirement mortgages over 70, Zurich mortgages for 60 year olds, Churchill lifetime mortgages for over 60s, Principality Building Society mortgages for over 65, Nottingham Building Society mortgages for pensioners over 60 and Progressive Building Society retirement interest only mortgages over 75 are 45%, 55% and 65%.
Equity Release UK Lenders
- Age Concern
- Norwich Union
- Lifetime Mortgage from L&G
Equity Release LTV Percentages
- 50% home reversion schemes LV Liverpool Victoria
- 25% LTV monthly payment lifetime mortgage Masthaven
- 25% LTV monthly payment equity release Masthaven
Some of the most common loan to value percentages of LV= later life interest only mortgages over 70, More to life mortgages for pensioners over 60, One Family interest only mortgages for over 60s, Yorkshire Building Society mortgages for people 60 plus, Metro Bank mortgages for over 60s and SunLife mortgages for 60 plus are 50%, 60% and 65%.
- Bath Building Society Equity Release House
- Progressive Building Society Over 75 Mortgage
- Failed Environmental Search Contaminated Land
- Modern Timber Frame Lifetime Mortgage
- Flying Freehold Over Shared Passageway
- Equity Release Belfast Providers
- Ex Local Authority Pensioner Mortgage
- Hsbc Retirement Mortgage Broker
- Thatched Houses
- Harpenden Building Society Over 70 Mortgage
- 55 Mortgage
- Mortgages For Retirees
- Sunlife Lifetime Equity Loan
- Yorkshire Building Society Interest Only Mortgage
- Flooding Areas UK Equity Release
- Lg Over 55 Mortgage
- Hsbc Over 75 Mortgage
- Broad Leaved Dock Japanese Knotweed
- Santander Equity Release Interest Rates
- Over 65 Mortgages
- Metrobank Interest Only Lifetime Mortgage
- Mortgages For New Builds
- Equity Release Property With Land
- Equity Release Under 50 Broker
- Dudley Building Society Equity Release Rates 2022
- Nottingham Mortgages
- Tsb Bank Equity Release Age
- Santander Lifetime Mortgage Broker
- Melton Mowbray Building Society Over 75 Mortgage
- Rbs Lifetime Mortgage Age
- Just Retirement Over 65 Mortgage
- National Counties Family Building Society Retirement Mortgage
- Legal And General Over 50 Mortgage
- Key Retirement Over 75 Mortgage
- Equity Release Under 40 House
- Bisf House Construction
- Best Equity Release Interest Rates
- Best Equity Release Company
- Natwest Retirement Mortgage Calculator
- Mansfield Building Society Pensioner Mortgage Calculator
- No Fees Equity Release
- Nationwide Retirement Mortgage Loan
- Santander Retirement Mortgage Interest Rates
- Natwest Equity Release Schemes
- Equity Release Under 60 House
- Timber Frame Mortgage Broker
- Ecology Building Society Over 65 Mortgage
- Over 60 Mortgage
- Under 50 Equity Release Scheme
Disadvantages of Home Reversion Plans – buy a house
Lump-sum lifetime mortgages can reduce the inheritance for your family. Monthly payment equity release may impact entitlements to state benefits. You may need to pay a legal fee and you could be exposed to changes in interest rates with some products.
- Just Retirement Interest Only Lifetime Mortgage
- L&G Legal & General Flexi Max Voluntary Repayment Plan
- Lloyds Bank Equity Release Schemes
- Stonehaven Interest Only Lifetime Mortgage
- Lloyds Bank Lifetime Mortgage
- NatWest Interest Only Lifetime Mortgage
- Royal Bank of Scotland Equity Release
- Saga home reversion plan to buy a house
- Bridgewater Equity Release Plans
- Just Retirement Equity Release
- Stonehaven Interest Only Lifetime Mortgage
- Nationwide Equity Release Plans
- HSBC Equity Release Schemes
- Lloyds Bank Lifetime Mortgage
Some of the most popular pensioner loan products are Lloyds mortgages for people 60 plus, Barclays lifetime mortgages, Post Office RIO mortgages, Legal & General retirement interest only mortgages and Nationwide Building Society later life interest only mortgages over 60.
Business owners details likely with equity to release
- Shaping and processing of flat glass Crook
- Fitness facilities Whitworth
- Support activities for crop production Maryport
- Liquid milk and cream production Wragby
- Finishing of textiles Bexley
- Retail sale of musical instruments and scores Chorleywood
- Raising of swine pigs Minehead
- Manufacture of paper and paperboard Spalding
- Computer facilities management activities Westbury
- Manufacture of men’s underwear Gillingham
- Retail sale of newspapers and stationery in specialised stores Haltwhistle
- Manufacture of electronic components Bicester
- Other retail sales in non-specialised stores Alton
- Other retail sales of new goods in specialised stores, not commercial art galleries and opticians Winchelsea
- Justice and judicial activities Luton
- Manufacture of ice cream Sutton
- Wholesale of perfume and cosmetics Grimsby
- Raising of dairy cattle Verwood
Common loan to value percentage ratios of Lloyds Bank mortgages for over 70s, Barclays Bank interest only lifetime mortgages for over 60s, Halifax later life interest only mortgages over 70, L&G interest only mortgages for people over 60, RBS interest only lifetime mortgages for over 70s and Nationwide Building Society remortgages for people over 50 years old are 45%, 60% and 65%.