- Remove tax-free money from your home
- No monthly repayments
- Use the cash to pay off loans and credit cards
- Continue to live in your own home
- Can be used to manage inheritance tax bills
Loan to value for equity release?
You can borrow 60% of your property’s valuation. As an example, if your house is worth £180000 you can borrow £108000.
Crown Equity Release Customer Reviews
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.
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 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 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 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 the interest rate offered by his bank.
More to life Lifetime Mortgages
- Hodge Indexed Lifetime Mortgage
- Pure Retirement Classic Drawdown Lite Plan
- Lloyds Bank Equity Release Schemes
- Saga Equity Release Plans
- HSBC Lifetime Mortgage
- Lloyds Bank Equity Release Plans
- TSB Equity Release Plans
- NatWest Interest Only Lifetime Mortgage
- Saga Equity Release Plans
- Canada Life Second Home Voluntary Select Plan
- Hodge Equity Release Plans
- Saga Lifetime Mortgage
- More 2 Life Capital Choice Plan
The 1st and 2nd charge 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 a Private Tenant.
Challenging to finance home titles can include properties with a sinking fund of 7% or more of the property sale price when the property is sold, properties close to mining works, areas of landfill, areas of recent flooding or subsidence, properties where there are boundary disputes or where planning applications have not been applied for correctly, timber buildings and Airey, Boot, Cornish Unit, Dorran, Dyke, Gregory, Hamish Cross, Myton, Newland, Orlit and Parkinson Frame.
Towns where Lifetime Mortgages are common
- Hebden Royd
- Much Wenlock
- South Kirkby and Moorthorpe
Tough to finance property variants include properties built or converted into dwellings more than 10 years ago, properties with room(s) or outbuilding(s) used for a small amount of personal commercial use, properties with more than one annexe or self-contained part of the property, properties using rooms, land or outbuildings for business purposes which are not personal to the borrower(s) or which extend to more than 50% of the property to be secured and properties adversely affected by existing or proposed issues including roads, rail, airports, power plants, power lines/pylons, wind turbines, substations, sewage works, quarries, fuel stations, refuse sites, sports grounds, noise, light or environmental pollution.
- British iron and steel federation house equity release
- Under 40 Equity Release Advice
- powerlines house equity release
- HSBC Equity Release
- Natwest Equity Release On Second Homes
- Nationwide Bank Retirement Mortgages Interest Only
- Timber Frame Mortgage Buy To Let
- HSBC Retirement Mortgage Loan
- Santander Lifetime Mortgage Rates 2022
- Santander Equity Release Drawdown
- Nationwide Retirement Mortgage Reviews
- Bad Credit Mortgage Interest Rate
- Nationwide Lifetime Mortgage Rates 2022
- Under 50 Equity Release From House
- Santander Retirement Mortgage Rates 2022
- Natwest Lifetime Mortgage
- HSBC Lifetime Mortgage Rates 2022
Difficult to mortgage property types can include pre-fabricated reinforced concrete (PRC), properties with spray foam insulation applied to the underside of the roof, large concrete panel systems, coach houses i.e. freehold properties with garages beneath and properties where the flat is accessed via a deck or balcony.
UK Lenders for Equity Release
- Lifetime Mortgage from L&G
- Sunlife Plans
Difficult to mortgage property variants include properties where proposed building works have not yet commenced, properties where tenants live in a self-contained part of the property, leasehold properties where the lease length is currently unacceptable, properties which are made up of multiple titles and properties owned under any form of shared equity scheme.
Some of the most popular loan to values of Standard Chartered mortgages for 60 plus pensioners, Zurich later life interest only mortgages over 75, Sainsburys retirement mortgages over 60, Coventry Building Society mortgages for over 60s, West Bromwich Building Society interest only lifetime mortgages for people over 60 and Cumberland Building Society mortgages for pensioners over 60 are 35%, 55% and 70%.
Some of the most common LTV ratios of LVE later life mortgages for over 60s, More 2 Life equity release plans for people over 60, OneFamily mortgages for people over 50, Yorkshire Bank over 60 mortgages, Royal London mortgages for 60 plus and SunLife mortgages for people over 50 are 50%, 60% and 70%.
Common LTV percentages of TSB interest only mortgages for over 60s, HSBC interest only mortgages for people over 70, Halifax mortgages for over 60s, L&G interest only mortgages for over 60s, Bank of Scotland pensioner mortgages over 70s and Nationwide Building Society mortgages for over 65 are 35%, 55% and 70%.
Some of the most popular retirement mortgage products include Lloyds Bank mortgages for people 60 plus, HSBC interest only retirement mortgages for over 70s, Halifax retirement mortgages, Legal & General interest only mortgages for over 70s and Nationwide Building Society mortgages over 65.
Examples of retired business owners likely to have equity to release
- Manufacture of macaroni, noodles, couscous and similar farinaceous products Moreton-in-Marsh
- Binding and related services Aldeburgh
- Freshwater fishing Middlesbrough
- Transmission of electricity Littlehampton
- Extraction of crude petroleum Much Wenlock
Downsides of Crown Lifetime Mortgages
A lifetime mortgage with flexible drawdown cash release can reduce the inheritance for your family. Home reversion schemes may impact entitlements to benefits. You may need to pay a broker’s fee and you could have higher rates to pay with some schemes.
How much is it common to release from a home
- 60% monthly payment lifetime mortgage Fortify Insurance Solutions
- 55% loan to value (LTV) home reversion schemes Bower
- 25% loan to value lumpsum lifetime mortgages Foundation Home Loans
- 25% LTV monthly payment lifetime mortgage Prestige Finance
Crown Equity Release Loan To Value
The older you are and the unhealthier you are the more tax-free money you can release.
It is usual to discover people seeking out interest-only lifetime mortgages, lumpsum lifetime mortgages or home reversion schemes, however, Aviva like AIG Life are keen to see evidence of your situation in the form of bank statements.