5.05% Cheshire BS Equity Release for 2024

• Release-tax free equity from your house with Cheshire Building Society Equity Release at 5.05%
• No need to make monthly payments
• Help your family to buy a house
• Stay living in your own house for as long as you like
• Can be a vehicle to reduce tax bills

How much can I release?

You can borrow 60% of your property’s value. For example, if your house is valued at £220000 you can borrow £132000.

Recently completed mortgage, equity release and lifetime mortgage cases

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.

Mrs L from Nottingham

For my lifetime mortgage, I had to pay a valuation fee and a solicitor’s fee, but no lender or broker fees. 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 do not need to move from home.

Ms G from Dover

I divorced my husband, who was a violent alcoholic. I feared losing my home as I sometimes looked after my daughter’s children. Equity release enabled me to pay off my ex and stay secure in my house.

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.

Mrs E from London

My mortgage needed to be repaid to the existing lender, and I thought I was going to lose my house. Thanks to Concise, I got an equity release to pay off my mortgage.

Mrs M from Birmingham

With no broker or lender 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 a deposit for her next house. She wanted a family, and her flat was too small.

Julia A

My mother has dementia. With my solicitor and my power of attorney, I got an equity release on my mother’s house to pay for specialist modifications for her comfort.

Challenging to mortgage home variants can include properties being assessed for flood risk, ground rent where the lease or any deed varying the lease provides for a ground rent exceeding, or where the escalating provisions would result in the ground rent exceeding £250 per annum (or £1000 per annum where the property is in Greater London), some properties with sitting tenants or regulated tenancies, mundic homes and missing planning permission or building regulations approval.

• Natwest Equity Release Brokers UK
• Best Mortgages For Over 50s Retirement Mortgage Providers
• Nationwide Equity Release Schemes
• Natwest Lifetime Mortgage Comparison
• Overhead lines Equity Release Interest Rates
• Yorkshire Building Society Lifetime Mortgage On Second Property
• Nationwide Retirement Mortgages over 60 Interest Rates
• Bad Credit Mortgage UK
• Nationwide Lifetime Mortgage Broker
• Tipton & Coseley Mortgage No Payments
• Chorley and District Building Society Lifetime Mortgage Calculator
• Under 50 Equity Release Schemes
• Age Partnership
• Barclays Retirement Interest Only Mortgage Comparison
• Nationwide Retirement Mortgage Broker
• BISF Equity Release Scheme
• Natwest Retirement Mortgage Interest Only

Equity Release LTV Percentages similar to Cheshire Building Society Equity Release

• 50% monthly payment equity release The Exeter Equity Release
• 25% LTV monthly payment lifetime mortgage Platform Mainstream
• 25% loan to value (LTV) lump sum lifetime mortgages Prestige Finance
• 55% loan to value interest-only lifetime mortgages Together Money

Tough-to-finance home titles include properties with outbuildings used for everyday domestic purposes (garage, workshop, stables, barn, etc), properties with flying or creeping freehold, which comprises 15% or less of the total floor area, properties without direct access to a adopted highway or which are accessed over an unmade road, properties that are being used for personal commercial use and properties with mobile phone masts which are within influencing distance of the house.

Areas where Cheshire Building Society Equity Release is popular

• Syston
• Shepton Mallet
• Chorleywood
• Blackburn
• Haxby
• Stanhope
• Lydney
• Cleator Moor
• Corringham
• Staveley
• Diss
• Stowmarket
• Dereham
• Barnard Castle
• Farnham

Retired small business owners who may be interested in the Cheshire Building Society Equity Release

• Construction of railways and underground railways Bishops Castle
• Retail sale of books in specialised stores in Malvern
• Manufacture of bearings, gears, gearing and driving elements Barnet
• Wholesale of sugar and chocolate and sugar confectionery Salcombe
• Manufacture of electricity distribution and control apparatus Kington
• Event catering activities Letchworth Garden City

• Canada Life Equity Release Plans
• Just Retirement Equity Release
• Cheshire Building Society Equity Release
• Bridgewater Equity Release
• Just Retirement Equity Release Plans
• Pure Retirement Equity Release
• Saga Equity Release Plans
• Liverpool Victoria LV Equity Release Schemes
• Royal Bank of Scotland Lifetime Mortgage
• Age Partnership Equity Release Schemes
• Canada Life Lifestyle Lite Flexi
• Hodge Lifetime Flexible Voluntary Repayment Plan
• Pure Retirement Lifetime Mortgage
• Stonehaven Interest Only Lifetime Mortgage
• Lloyds Bank Equity Release Schemes
• Royal Bank of Scotland Equity Release Schemes
• More 2 Life Capital Choice Plus Plan

The mortgage lender will want to know if the property is a Detached freehold house or a Leasehold house and if the resident is an AST Tenant.

Downsides of Cheshire Building Society Equity Release

Lumpsum lifetime mortgages can reduce the value of your estate. Monthly payment of the Cheshire Building Society Equity Release may impact the ability to get state benefits. You may need to pay an advisor’s fee, and some products may expose you to changes in interest rates.

It is widespread to discover people seeking out monthly payment equity releases, monthly payment lifetime mortgages, or home reversion schemes; however, Key Retirement, like The Exeter Equity Release, is keen to see evidence of your situation in the form of pension statements.

Hard-to-finance home types can include properties with post-1945 asbestos or similar composition roof tiles, properties with pre-1945 asbestos or similar composition roof tiles, privately developed flats, up to four storeys with a lift, privately developed flats in blocks of two storeys without a lift, and basement or lower ground-floor flats without level access to private or communal garden space.

Hard-to-mortgage home types include homes requiring essential repairs, properties where letting arrangement where the tenancy agreement is not appropriate, feuhold/freehold properties (including flats) in Scotland, commonhold properties and properties with single skin brickwork.

The standard loan-to-value percentages of Virgin Money interest-only mortgages for over-60s, Shepherds Friendly mortgages for over70s, Sainsbury’s retirement interest-only mortgages over 60, Skipton Building Society retirement mortgages over 65, Newcastle Building Society mortgages for over70s, and Cumberland Building Society equity release schemes for people over 70 are 35%, 60%, and 70%.

The popular loan-to-value ratios of Liverpool Victoria mortgages for over-60s, More to Life mortgages for 60-plus pensioners, OneFamily help-to-buy for over-60s, YBS mortgages for over 70s, Principality Building Society later life interest-only mortgages over 75, and Axa equity release schemes for people over 70 are 50%, 55%, and 70%.

How much is it expected to release from a home?

The older you are and the sicker you are, the more cash you can release.

The typical LTV percentages of Lloyds over-60 lifetime mortgages with no fees, Barclays interest-only lifetime mortgages for over 70s, NatWest mortgages for over 70s, L&G interest-only mortgages for over 60s, Royal Bank of Scotland mortgages for 60-plus pensioners, and Nationwide later life borrowing schemes over 55 are 35%, 60%, and 65%.

UK Lenders similar to Cheshire Building Society Equity Release

• Key Retirement
• Step Change
• the Telegraph

Aviva Retirement Mortgages

Pure Retirement Mortgages
Equity Release Calculator Under 55

Just

Popular pensioner mortgage products include Lloyds Bank interest-only mortgages for over-60s near London, Barclays pensioner mortgages, NatWest mortgages for 60-year-olds, Legal & General retirement mortgages, and Nationwide pensioner mortgages.