Sorting by

×

Own a Flat above a shop or commercial property and need some equity release or a mortgage in 2021?

flat-shop

  • Release cash from your flat even if it’s above commercial premises
  • Ideal for flats above shops or other commercial property
  • Variable rates 1.98% and fixed rates 2.56%
  • No need to make monthly payments unless you want to make a payment
  • Use the money to pay off debts
  • Could be used to help tax planning

How much can I borrow?

You can release 60% of your home’s valuation. As an example, if your home is valued at £250000 you can borrow £150000.

  • Your Requirements

  • Please enter a number from 4000 to 200000000.
  • Please enter a number from 50000 to 10000000.

South West London Home
West London Home
South West London Home
Money tied up in home
Money tied up in house

  • Your Requirements

  • Please enter a number from 4000 to 20000000.
  • About You

  • By clicking Submit and ticking the box above you agree to be contacted by an FCA authorised advisor that you have read and agreed to our Terms & Conditions and our Privacy Policy.

Buying a self contained flat above a late night shop

Finding a mortgage lender and getting a mortgage above a shop may be more difficult than say a normal freehold detached house.  Your likely to need a different bank or building society that is a specialist to get mortgages near commercial premises.

It is usual to encounter people seeking out lump sum lifetime mortgages, monthly payment lifetime mortgage or home reversion plans, however, More2Life like The Exeter Equity Release are keen to see evidence of your circumstances in the form of pension statements.

Legal & General - Flexible Indigo

What are Hinckley & Rugby Building Society interest rates for equity release?

Hinckley & Rugby Building Society interest rates for equity release are 1.93% MER.

Tough to mortgage home variants include properties will be assessed for flood risk, leasehold properties with a short lease, typically less than 70 years, or a defective lease, properties with structural problems, mundic homes and concrete panel houses.

Legal & General - Flexible Blue

Tough to finance property titles can include flats of less than 30 square metres in any location, properties with a large number/scale of outbuildings, agricultural use of the land and any outbuildings, properties where there is a self-contained part of the property or annexe, i.e. basement flat etc and properties that have a private water supply provided a contract is in place with an approved maintenance company for regular testing and maintenance.

Canada Life - Lifestyle Lite

Hard to finance home variants can include properties with post 1945 asbestos or similar composition roof tiles , timber framed properties built between 1920 and 1965, privately developed flats, maximum four storeys with a lift, coach houses i.e. freehold properties with garages beneath and freehold flats (England, Wales, Northern Ireland).

Do Hinckley & Rugby Building Society do Equity Release?

Yes, Hinckley & Rugby Building Society Equity Release is 2.12% MER.

Pure Retirement - Classic Super Lite

Smaller Building Societies and Lenders

Large banks and Building Societies

Age-related offers

Poor Credit Equity Release

Difficult to mortgage property types include properties in poor condition, properties where letting arrangement where the tenancy agreement is not appropriate, leasehold properties (England, Wales, Northern Ireland) subject to a lease length of 160 years, crofted houses and properties where the borrower(s) own the freehold with any connected party.

Do Hinckley & Rugby Building Society do Pensioner Mortgages?

Yes, Hinckley & Rugby Building Society Pensioner Mortgages are 2.19% APRC.

Equity Release LTV

  • 60% home reversion schemes The Exeter Equity Release
  • 60% loan to value home reversion plans Age Partnership
  • 60% LTV monthly payment equity release Together Money
  • 50% loan to value lump sum lifetime mortgages Key Retirement
  • 35% loan to value monthly payment lifetime mortgage Prudential
  • 35% loan to value (LTV) lumpsum lifetime mortgages 1st Stop Home Loans
  • More 2 Life Capital Choice Plus Plan
  • L&G Legal & General Flexi Max Voluntary Repayment Plan
  • Bridgewater Lifetime Mortgage
  • More2Life Capital Choice Plan
  • L&G Legal & General Premier Flexible Lifetime Mortgage
  • Royal Bank of Scotland Lifetime Mortgage
  • Saga Lifetime Mortgage
  • Bridgewater Equity Release
  • Canada Life Prestige Flexi Option
  • More 2 Life Flexi Choice Voluntary Payment Super Lite
  • Aviva Equity Release Plans
  • TSB Equity Release Plans
  • NatWest Interest Only Lifetime Mortgage
  • Royal Bank of Scotland Lifetime Mortgage

Crown

Some of the most common loan to value percentages of Aviva interest only retirement mortgages for over 70s, Zurich retirement mortgages over 70, Churchill retirement mortgages over 70, Coventry Building Society mortgages for over 65, Newcastle Building Society mortgages for over 65 and Cumberland Building Society over 60 mortgages are 35%, 55% and 70%.

More2Life

Does Hinckley & Rugby Building Society have positive reviews for equity release?

Yes, Hinckley & Rugby Building Society reviews are tiptop for equity release.

One Family Lifetime Mortgages

Does Hinckley & Rugby Building Society offer Retirement Mortgages?

Yes, Hinckley & Rugby Building Society Retirement Mortgages are 1.87% APRC.

Pure Retirement Drawdown Lifetime Mortgages

Downsides of Home Reversion Plans

A monthly payment lifetime mortgage can reduce your estate value. Lump-sum lifetime mortgages may impact the ability to get state benefits. You may need to pay an advisor’s fee and you could have higher rates to pay with some schemes.

Common loan to value percentage ratios of LV= mortgages for people over 50, More2Life interest only mortgages for people over 70, One Family interest only lifetime mortgages for over 70s, Yorkshire Bank mortgages for over 65, Metro Bank later life interest only mortgages over 60 and SunLife interest only mortgages for people over 70 are 45%, 60% and 70%.

The 1st and 2nd charge lender will want to know if the property is a Semi detached freehold house or a Leasehold house and if the resident is an Owner Occupier.

Do Hinckley & Rugby Building Society do Equity Release Under 55?

Yes, Hinckley & Rugby Building Society Equity Release Under 55 is 1.9% MER.

Business owners who could benefit from equity release estate planning

  • Treatment and coating of metals Long Sutton
  • Manufacture of electrical and electronic equipment for motor vehicles and their engines Nelson
  • Electrical installation Ponteland
  • Other retail sales in non-specialised stores Eye
  • Recreational vehicle parks, trailer parks and camping grounds Conisbrough
  • Manufacture of batteries and accumulators Petersfield
  • Manufacture of office and shop furniture Mablethorpe and Sutton
  • Other food services Immingham
  • Sale of other motor vehicles Sudbury
  • Wholesale of audio tapes, records, CDs and videotapes and the equipment on which these are played Malton
  • Video distribution activities Harworth and Bircotes
  • Security and commodity contracts dealing activities Pudsey
  • Manufacture of leather clothes Middlesbrough
  • Manufacture of steel drums and similar containers Crowle
  • Real estate agencies Blackrod
  • Pre-press and pre-media services Downham Market
  • Activities of collection agencies Ashby Woulds
  • Manufacture of plastics in primary forms Bolsover

Mortgages For People With Defaults

Common loan to value percentage ratios of Lloyds Bank over 60 lifetime mortgages no fees, Barclays Bank mortgages for 60 plus, Natwest remortgages for people over 50 years old, L&G interest only mortgages for people over 70, Bank of Scotland retirement interest only mortgages over 60 and Nationwide interest only mortgages for over 65 year olds are 45%, 55% and 70%.

Towns of the UK where equity release is popular

  • Burnham-on-Sea
  • Haywards Heath
  • Sevenoaks
  • Sutton
  • Cirencester
  • Warminster
  • Guisborough
  • Colchester
  • Crowland
  • Newport Pagnell
  • Brighouse

Lenders for Equity Release

  • Aviva
  • Step Change
  • More2Life
  • Stonehaven Mortgage
  • Zurich

Do Hinckley & Rugby Building Society do Lifetime Mortgages?

Yes, Hinckley & Rugby Building Society do lifetime mortgages at 2.15% APRC. Hinckley & Rugby Building Society Lifetime Mortgages can have a LTV of 65%.

Equity Release Loan To Value

The older you are and the more serious your illnesses you are the more money you can release.

Equity release is idea for flats part of a semi-commercial property, mixed-use titles and commercial property nearby.

Some of the most popular pensioner mortgage products are TSB retirement mortgages, Barclays Bank over 60 lifetime mortgages, Post Office later life borrowing schemes, L&G mortgages for over 65 and Nationwide Building Society interest only mortgages for over 65 year olds.