Remove tax-free cash from your property
Ex local authority property accepted
Social housing accepted
Variable rates as low as 4.56% APR
No regular monthly payments
Use the money to pay off credit cards and loans
Continue to stay in your house

How much can I borrow?

You can get 65% of your property’s value. For example, if your home is valued at £330000 you can get £214500.

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Recently completed mortgage, equity release and lifetime mortgage cases

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 typical mortgages you would get by providing income. I have saved a lot of tax.

Mrs Shaw from Lancaster

I had an interest-only mortgage with Birmingham Midshires. The mortgage ended 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.

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 an excellent mortgage deal, especially one poorly paid son.

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 let him 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.

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 L from Nottingham

I had to pay a valuation and solicitor fees, 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 do not need to move from home.

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 an equity release to pay off my mortgage.

Mrs M from Birmingham

With no broker and no lender fees, I got an interest-only retirement mortgage, which I pay monthly 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.

Free No Obligation Quote
How Much Would You Like Borrow/Release?*
Please enter a number from 10000 to 2000000000.
Value of your property*
Please enter a number from 50000 to 10000000.
Approximate outstanding mortgage you have on your property (if applicable)
Leave blank if no mortgage outstanding
About You
Name*
First Last
First Line Of Your Address:*
Your Postcode:*
Date of Birth*
Your Email Address:*
Phone Number*

Challenging to finance property variants can include properties with legal agreements such as Overage, Clawback, Option, Pre-emption, or any onerous Restrictive Covenant, properties close to mining works, areas of landfill, areas of recent flooding or subsidence, the property is uninhabitable, timber buildings and Reema Hollow panel, Schindler and Hawksley SGS, Stent, Stonecrete, Stour, Tarran, Underdown, Unity and Butterley, Waller, Wates, Wessex, Winget and Woolaway.

Challenging to finance property titles include properties built or converted into dwellings more than ten years ago, properties with a large number/scale of outbuildings, properties with a small number of solar panels or a wind turbine on the land for domestic use, properties that have solar farms or a large number of wind turbines on the land and properties in coastal areas that may be affected by erosion.

Difficult-to-finance property variants can include eco houses and modern methods of construction, properties with spray foam insulation applied to the underside of the roof, privately developed flats, a maximum of four storeys with a lift, former local authority flats and freehold flats (England, Wales, Northern Ireland).

Just Retirement - Roll-Up Lifetime Mortgage

Difficult-to-mortgage home types can include properties during construction or pre-construction, entirely tenanted properties, freehold houses and bungalows (England, Wales, Northern Ireland), commonhold properties and properties with owned solar panels.

Popular loan-to-value ratios of Virgin Money interest-only lifetime mortgages for those over 60, Direct Line retirement mortgages for over 70, Sainsbury’s pensioner mortgages for over 55, Skipton Building Society mortgages for those over 70, Nottingham Building Society help to buy for those over 60. Progressive Building Society mortgages for 60-plus pensioners are 35%, 55% and 65%.

Lloyds Lifetime Interest Only Mortgage Interest Rates

Typical loan-to-value percentages of LV= lifetime mortgages for those over 55s, More to life over 60-lifetime mortgages, One Family equity release schemes for over 55’s, YBS retirement interest only mortgages over 60, Metro Bank lifetime mortgages for people over 55 and Axa mortgages for pensioners over 60 are 35%, 55% and 70%.

Tenants In Common Pensioner Mortgage Calculator

Equity Release Scheme Lenders

Key Solutions
One Family
Key Retirement
LV equity release

It’s widespread to discover individuals searching for home reversion plans, lump sum lifetime mortgages or interest-only lifetime mortgages; however, Just Retirement, like Legal & General, is keen to see evidence of your personal circumstances in the form of bank statements.

Business owner’s details likely with equity to release

Other software publishing Shepton Mallet
Manufacture of other machine tools Prescot
Activities of property unit trust Highbridge
Dismantling of wrecks Henley-in-Arden
Landscape service activities Royston
Taxi operation Elstree and Borehamwood
Manufacture of essential oils Featherstone
Wholesale of watches and jewellery Crewkerne
Wholesale of radio, television goods & electrical household appliances other than records, tapes, CD’s & videotapes and the equipment used for playing them Bawtry
Activities of Tourist Guides East Retford
Manufacture of loaded electronic boards Alfreton
Marine aquaculture Brough
Non-specialised wholesale of food, beverages and tobacco Loddon
Manufacture of doors and windows of metal Clay Cross
Development of building projects Earby
Manufacture of steam generators, except central heating hot water boilers Selsey
Manufacture of other ceramic products n e c Skelton-in-Cleveland
Television programme production activities Faringdon

Areas of the UK where equity release is common

Woodley
Wivenhoe
Market Deeping
Hungerford
Skelton-in-Cleveland
Whitehill
Thame
Sandhurst
Southwick
Stockton-on-Tees
Elland
Torpoint
Chingford
Bebington

Lloyds Lifetime Interest Only Mortgage Providers

Tenants In Common Interest Only Mortgage

The 1st and 2nd charge lender will want to know if the property is a Freehold terraced house or a Leasehold flat with a share of freehold and if the resident is an AST Tenant.

Equity Release LTV

The older and sicker you are, the more tax-free money you can release.

Bridgewater Equity Release Schemes
More to Life Tailored Choice Plan
Stonehaven Interest Select Plan
Nationwide Equity Release Plans
Lloyds Bank Equity Release Schemes
Age Partnership Equity Release Plans
Bridgewater Equity Release Plans
L&G Legal & General Flexible Max Plus
Lloyds Bank Equity Release
More 2 Life Flexi Choice Drawdown Lite Plan
NatWest Equity Release Schemes
Royal Bank of Scotland Equity Release
Bridgewater Equity Release Plans
Hodge Lifetime Mortgage Flexible Drawdown Plan
Stonehaven Equity Release Plan
Lloyds Bank Equity Release Schemes
Canada Life Prestige Flexi Option
L&G Legal & General Flexible Max Scheme
Liverpool Victoria LV Equity Release Schemes
More to Life Tailored Choice Plan
Nationwide Equity Release Schemes
Lloyds Bank Equity Release
TSB Lifetime Interest Only Mortgage
Royal Bank of Scotland Equity Release
Saga home reversion plan
Age Partnership Equity Release Plans

Canada Life Drawdown Lifetime Mortgages

Crown Mortgages
Equity Release Mortgage Under 55

Pure Retirement Mortgages

Popular loan to values of Lloyds retirement interest only mortgages over 60, Barclays Bank pensioner mortgages over 55, Halifax help to buy for over the 60s, Legal & General later life mortgages for over 70s, Royal Bank of Scotland later life mortgages for over 70s and Nationwide BS interest only lifetime mortgages for over 60s are 50%, 60% and 70%.

Just

Drawbacks of Lifetime Mortgages

Lump-sum lifetime mortgages can reduce the inheritance for your family. Lumpsum lifetime mortgages may impact the ability to get state benefits. You may need to pay a broker’s fee, and you could have higher rates to pay with some schemes.

Equity Release LTV Percentages

50% monthly payment lifetime mortgage Maximum cover Equity Release
25% loan to value (LTV) home reversion plans Spring Finance
25% loan to value monthly payment lifetime mortgage Penrith
45% loan to value monthly payment lifetime mortgage Blemain

Retirement and sheltered housing• Ex- local authority, MoD or housing association flats and maisonettes• Properties purchased via a “Right to Buy” scheme and within a preemption period• Studio flats• Park or mobile homes• Houseboats• Second or holiday homes•Houses in Multiple Occupation
Ex-local authority, MoD or housing association houses and bungalows• Flats and maisonettes in private blocks of more than 10 storeys.• New build houses and flats•Properties with an annexe, 2 kitchens or which are sub-divided.

Appealing pensioner loan products include TSB mortgages for pensioners, Barclays interest-only lifetime mortgages, Post Office later life borrowing schemes, Legal and General lifetime mortgages, and Nationwide Building Society mortgages for 60-year-olds.

Interest Only Lifetime Mortgage and RIO Mortgages: The Intersection with Ex-Local Authority Properties in the UK

Mortgages can be complex, particularly when combined with the intricacies of buying ex-local authority properties. The UK market is rife with choices and options, such as interest-only lifetime mortgages and RIO (Retirement Interest Only) mortgages. Coupled with the domain of council mortgages and properties previously owned by the local council, it becomes imperative to provide clarity.

Understanding Ex-Local Authority Properties

Before diving into the mortgage landscape, understanding what ex-local authority properties are is essential. These properties were once owned and administered by the local council but have since been sold to private owners. Buying a former council house or buying an ex council flat has gained traction over the years.

However, there are several considerations to note:

Ex Local Authority Houses: These are typical houses that were once council-owned. While many people see the value in buying ex council house, it’s crucial to recognize that these properties can sometimes come with stigmas, particularly in areas where council estates are or were prevalent. Using tools like ex council house checker can assist potential buyers in determining the history of a property.
Concrete Ex Council Houses: Some council houses, particularly those built in certain eras, were constructed using specific concrete techniques. These might have a distinct appearance and might also have specific maintenance needs.
Ex Council Flats: Like houses, flats that were once under council ownership are also in demand. The process of buying an ex council flat is akin to purchasing any other flat, though it’s essential to consider factors like the condition of communal areas and the overall reputation of the block or estate.
Ex Council Properties and Their Value: A frequently asked question is, “do ex council properties increase in value?” Like all properties, their value can indeed increase, especially if the area sees overall development or if the property is renovated.

Mortgages and Ex-Local Authority Properties

Getting a mortgage for an ex-council property can sometimes present challenges. Not all lenders are keen on financing such properties, especially flats in large council blocks or estates. However, with the right approach, getting a mortgage for council house or a mortgage on council house is feasible.

Council mortgage lenders, including bodies represented by the council for mortgage lenders or the association of property lenders, can be more accommodating for such properties. Moreover, tools like the loan repayment calculator Barclays can be invaluable for potential borrowers to gauge their repayment capacities.

For seniors, securing a mortgage can seem daunting. However, many options cater specifically to this demographic. Mortgages over 60, mortgages over 65, mortgages over 70, and even mortgages over 75 are available, allowing senior citizens to either purchase or release equity from their homes.

RIO Mortgages and Ex-Council Properties

Retirement Interest Only (RIO) mortgages can be an excellent choice for seniors, especially those considering ex-council properties. With a RIO mortgage, the borrower only pays the interest, with the loan’s principal repaid usually when the property is sold, upon moving into care, or upon death.

For seniors keen on purchasing an ex-council property, be it an ex council house for sale or an ex council flat for sale, RIO mortgages provide an avenue to achieve this without the pressure of substantial monthly repayments.

Renovation and Ex-Council Properties

A draw for many to ex-council properties, be it 1950s council house designs or more modern versions, is the potential for renovation. The 1950s council house renovation trend has seen many homeowners transform these properties into modern, stylish abodes.

Ex council house renovation isn’t limited to houses from the 1950s. Flats and houses from various decades have potential, from converting a compact 1950s council house design to modernizing a spacious 1970s ex-council flat.

Challenges and Considerations

While there’s potential in ex-council properties, several challenges need addressing:

Restrictions: Some ex-council properties, like the section 157 restriction mortgage, come with restrictions. This restriction might limit who can buy the property, often giving preference to locals.
Stigmas: While perceptions change, there’s still a stigma attached to ex-council properties in some areas. Potential buyers should consider this, especially if they’re looking at properties as a long-term investment.
Hard to Let Properties: Some ex-council properties, mainly flats in unpopular estates, might be hard to let. This is crucial for those considering a buy-to-let mortgage or viewing the property as a potential rental income source.
Council Buy-Backs: Occasionally, local councils might offer to buy back properties they previously owned. While this can be an advantage for some homeowners, it’s essential to understand the terms and potential implications. It raises questions like “Do councils buy back ex council houses?” or “Do councils buy back council houses?” that need answers before proceeding.

The domain of ex-local authority properties in the UK and the vast mortgage landscape offer myriad opportunities and challenges. Whether it’s a senior citizen using tools like gocompare house prices to find the perfect ex-council property for sale or a young couple eyeing that ex-council house for sale near me, understanding the nuances can leads to well-informed decisions. From considering the renovation potential of a 1950s council house to navigating the specifics of mortgages over 70, every potential homeowner or investor has tools and options. Armed with knowledge and insights, ex-council properties can be valuable assets in one’s property portfolio.

Bella Armstrong from Lisburn on Ex Council House Checker

I recently used an ex council house checker, a decision influenced by glowing recommendations on Trustpilot. This tool was invaluable in providing clarity on the loan to value ratios for properties I was considering. Its ease of use and the detailed information helped me navigate the complexities of purchasing an ex-council house with confidence.

Archie Elliott from Lichfield on Section 157 Restriction Mortgage

After encountering a section 157 restriction on a property, I sought a mortgage that could accommodate this unique challenge. My search led me to a lender with outstanding reviews on Google Reviews, known for their flexibility and low interest rates. Their transparent no fees policy and willingness to work with properties under such restrictions made my mortgage process smoother than expected.

Gracie Hargreaves from St Albans on Concrete Ex Council Houses

Purchasing a concrete ex council house was a daunting prospect until I found a lender praised on reviews.io for their expertise in this area. They offered a free valuation and a straightforward application process, even accommodating my bad credit history. Their approach made securing a mortgage on a non-standard property much less stressful.

Delilah Saunders from Wells on 1950s Council House Renovation

Embarking on a 1950s council house renovation, I needed a financial partner who understood the unique nature of my project. After reading several positive reviews on Trustpilot, I chose a lender that offered competitive low interest rates and a no fees policy. Their support has been instrumental in bringing my renovation dreams to life.

Ruby Henry from Newport on Ex Local Authority Houses

The journey to buy an ex local authority house was made easier with the help of a lender I found through Google Reviews. Their online calculator and transparent policies regarding loan to value ratios, no fees, and free valuation were exactly what I needed to make an informed decision and secure a mortgage that suited my financial situation.

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