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Flood risk warning property equity release lender – 4.78% APR

  • Remove tax-free money from your house – Equity Release for flood risk warning homes
  • Coastal erosion risk area properties considered
  • Flood risk properties flooded in the last 10 years
  • No monthly repayments
  • Buy a family member a home without a mortgage
  • Stay living in your own property for as long as you like

Loan to value for equity release?

You can release 60% of your property’s valuation. For example, if your home is valued at £280000 you can release £168000.

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Concise Finance Customer Reviews


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.


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.

Non-Standard Property Home Index


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 his interest rate offered by his bank.


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.


Mrs M from Birmingham

With no brokers fees and no lenders 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 deposit for her next house. She wanted a family, and her flat was too small.


Mrs L from Nottingham

I had to pay a valuation fee and a solicitor’s fee, 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 I do not need to move from my home.


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 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.


Julia A

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

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Home equity Tied Up
London House Finance
Over 55 Home owner
Raise money with your home
OneFamily joint lifetime mortgage
LV= Lump Sum+ Lifetime Mortgage

Tough to mortgage home variants can include properties with a sinking fund of 7% or more of the property sale price when the property is sold, 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), properties with structural problems, corrugated iron construction and Reema Hollow panel, Schindler and Hawksley SGS, Stent, Stonecrete, Stour, Tarran, Underdown, Unity and Butterley, Waller, Wates, Wessex, Winget and Woolaway.

Pure Retirement - Classic Super Lite

Tough to mortgage home variants include grade ll Listed houses (grade C in Scotland and B2 in Northern Ireland), properties with a single annexe or other self-contained part of the property, properties with a small number of solar panels or a wind turbine on the land for domestic use, properties that are being used for personal commercial use and properties which have been built on a previously contaminated land are acceptable provided the result of an environmental search determines the land to be clear of contamination.

Pure Retirement Ltd lifetime mortgage
55+ Mortgage

Hard to mortgage property types can include Timber-framed properties constructed post-1965, properties with any externally applied insulation to the walls after construction, studio flats located within the M25, freehold/feuhold flats (Scotland only) and freehold flats (England, Wales, Northern Ireland).

UK Lenders for Equity Release

  • the Telegraph
  • Norwich Union
  • More to life

Canada Life

Do The Melton Building Society have excellent reviews for equity release?

Yes, The Melton Building Society reviews are commendable for equity release.

Understanding Lifetime Mortgages and Equity Release Schemes in the UK

Lifetime mortgages and equity release schemes have become a popular choice among retirees in the UK. For homeowners aged over 60 and 70, these financial tools provide an avenue to release equity from their homes without selling. While the primary focus remains on interest rates and how they impact such mortgages, the conversation also veers into protecting one’s home from unforeseen disasters such as floods.

Lifetime Mortgages for Those Over 60

The Premise of Lifetime Mortgages

A lifetime mortgage is a loan secured against a property, which doesn’t need to be repaid until the homeowner dies or enters long-term care. The interest accumulates over the years, with the total amount (principal + interest) repaid at the end of the term.

Interest Rates Dynamics

The interest rates on these mortgages play a crucial role in determining the total repayment amount. As these rates can fluctuate based on market conditions, it’s essential for homeowners to be acutely aware of the current rates and the potential implications of future shifts.

Equity Release for Those Over 70

Unlocking Home Equity

Equity release schemes allow older homeowners to tap into their property’s value, accessing it either as a lump sum or regular income. Similar to lifetime mortgages, the loan and accumulated interest are generally repaid from the property’s sale proceeds upon the owner’s passing or move to care.

Rates and Their Relevance

Equity release rates, especially for those over 70, can vary based on the scheme, the property’s value, and the homeowner’s age. It’s paramount to understand these rates and their long-term impact.

Flood Risks and House Safety

For many homeowners, particularly in certain parts of the UK, flood risks can pose significant threats. It’s crucial to be prepared and know what steps to take if a flood strikes.

Flood Preparedness

So, how to prepare for flooding? One of the primary steps is to have a well-thought-out flood plan. This encompasses understanding the area’s flood risk, ensuring there’s a list of essential contacts, and being aware of evacuation routes. To aid in emergency situations, an emergency flood kit or simply a flood kit is recommended. This kit should include essentials like torches, batteries, bottled water, non-perishable food, and crucial medications.

Insurance and Flood Coverage

For those considering buying a house in a flood risk area, understanding flooding insurance UK policies is paramount. Not all standard house insurance policies cover flood damage. It’s crucial to explore house insurance flood risk area specific plans or add-ons. Companies like kits insurance might offer packages tailored to homes in such zones.

Dealing with Flooding

If you ever find your house flooded, or there’s a flood in the house, prompt action is critical. Here’s a step-by-step guide:

  1. Safety First: If there’s a significant flood in house, ensure you and your family are safe. If necessary, evacuate.
  2. Isolate Utilities: Turn off electricity, gas, and water supplies if you can do so safely.
  3. Document the Damage: Once safe, take photographs of the flooded home. This can help with insurance claims.
  4. Protect Valuables: Move essential items upstairs if you need help moving furniture upstairs UK based services are available.
  5. Get Expert Advice: For a flooded house, it’s crucial to seek expert advice on cleanup and repairs. They can guide on what to do if your house floods and offer solutions.

Flood Warnings and Staying Informed

Staying updated is key. The UK has a robust flood warning and preparation system in place. Homeowners can sign up for alerts, which provide timely flood advice and steps on what to do during a flood. The mantra remains simple: stay informed, stay prepared.

Floods: The Bigger Picture

Understanding Floods

When discussing floods, one might wonder, what is the flood? At its core, a flood refers to an overflow of water onto normally dry land. This can be due to various reasons, including heavy rainfall, storm surges, or blocked waterways. For a comprehensive understanding, seeking floods information from reliable sources, like government portals, is advisable.

Flood Impact on Households

Floods can have devastating effects on households, both in terms of physical damage and the emotional toll. A flood in the house can damage the structure, furniture, electronics, and personal belongings. The aftermath can often see families displaced from their homes, leading to temporary relocations and significant disruptions in daily routines.

Financial Implications

Beyond the immediate damage, there are considerable financial implications of a flooded house. Repairs can be costly, especially if structural damage has occurred. Personal belongings, too, might need replacing. Those without house insurance flood risk area coverage might find themselves bearing the brunt of these costs, leading to potential financial strain.

Emotional and Health Concerns

The trauma of seeing one’s home flooded can be overwhelming. Memories, heirlooms, and the sense of security can be washed away, leading to feelings of loss and despair. Moreover, the stagnation of water can lead to health concerns, with the potential spread of waterborne diseases or mould growth in the home.

Recovery and Rebuilding

Recovery from a flood is a gradual process and requires both immediate and long-term steps.

Immediate Measures

Post-flooding, once it’s safe, it’s essential to return to the property to assess the damage. While expert advice is invaluable, homeowners can also take preliminary measures:

  1. Drainage and Drying: Use pumps or buckets to remove stagnant water. Open windows and doors to allow for ventilation, aiding the drying process.
  2. Salvaging Belongings: While some items might be beyond repair, others can be cleaned and restored. Prioritise important documents and personal keepsakes.
  3. Prevent Mould Growth: Damp environments can encourage mould. Use dehumidifiers and consider anti-mould treatments to protect your home.

Long-term Rehabilitation

  1. Professional Restoration: Depending on the extent of damage, consider hiring professionals for restoration work, ensuring the property is safe and habitable.
  2. Insurance Claims: File claims with your insurance company, providing evidence like photographs and lists of damaged items. Engage with household agencies or a household agency that can guide you through this process.
  3. Re-evaluate Insurance: If your home was previously uninsured or underinsured for flood risks, now is the time to revisit your policy.

Prevention and Preparedness

While not all flood scenarios can be prevented, there are steps homeowners can take to reduce the risk and be better prepared.

Flood-Resilient Infrastructure

For those in high-risk zones, consider home modifications like raised electrical sockets, water-resistant materials for walls and floors, and flood barriers.

Regular Maintenance

Ensure drains and gutters are regularly cleaned to prevent blockages. Additionally, landscaping can be optimised to channel water away from the property.

Stay Informed and Engage with the Community

Staying informed about potential flood risks and information about floods is crucial. Engaging with community initiatives or local councils can provide a support system and shared resources for preparation and recovery.

In Summary

Floods can have profound impacts on homes and homeowners. While lifetime mortgages and equity release schemes offer financial solutions for the UK’s elderly population, it’s essential to also consider the safety and protection of the very asset these schemes leverage – the home. Through preparedness, insurance, and community engagement, homeowners can navigate the challenges posed by floods and ensure their homes remain both a safe haven and a valuable asset.

Understanding Equity Release Rates

Equity release provides homeowners, typically of retirement age, with a mechanism to unlock the value tied up in their homes without having to sell or move out. Given the varying products under this umbrella and their distinct features, it’s essential to understand the different rates associated with each. The following guide delves deep into the world of equity release rates, elucidating the diverse options available for retirees in the UK.

Lifetime Mortgage Rates

One of the most popular forms of equity release, lifetime mortgages allow homeowners to borrow a portion of their property’s value. The loan amount, plus the accrued interest, is repaid when the homeowner dies or moves into long-term care.

Fixed vs. Variable Rates

Most lifetime mortgages come with fixed interest rates, ensuring that the rate remains unchanged for the life of the loan. This provides homeowners with the certainty of how the debt will accumulate over time. Variable rates, although less common in this sphere, might fluctuate based on external economic factors or a specific index.

Compound Interest

A notable feature of lifetime mortgages is the compound interest. It means that interest is charged on the initial amount borrowed and any interest that has already accumulated. This compounding effect can lead to the loan amount growing significantly over time, especially if the interest is not paid regularly.

Interest Only Lifetime Mortgage Rates

This variant allows borrowers to pay off the interest monthly, ensuring that the loan amount remains constant throughout the term. Upon the homeowner’s passing or move to long-term care, only the original borrowed amount is repaid.

Benefit of Maintaining Loan Amount

One of the primary benefits of an interest-only lifetime mortgage is the ability to maintain the loan’s size, which can be advantageous for inheritance planning purposes. It ensures that the eventual repayment will not erode the home’s total value.

Ensuring Affordability

Before opting for this product, it’s essential to ensure that monthly interest payments are affordable throughout retirement, especially if relying solely on pension income.

Interest Only Retirement Mortgage Rates

An interest-only retirement mortgage is similar to its lifetime counterpart but typically has a fixed term. It caters to retirees who can afford regular monthly payments and might have an expected lump sum in the future to pay off the principal.

Rate Comparison

Generally, interest-only retirement mortgage rates might be slightly lower than lifetime mortgage rates. This is due to the shorter term of the loan, which reduces the lender’s risk.

Exit Strategy

Lenders usually require an exit strategy, detailing how the homeowner plans to repay the loan amount at the end of the term.

Retirement Mortgage Rates

These are traditional mortgages, but designed for retirees. They can be either repayment (capital and interest) or interest-only.

Eligibility and Affordability

The primary considerations here are the retiree’s income sources and the loan’s affordability. Lenders will scrutinise pension income, investment returns, and other revenue streams.

Duration and Repayment

Given that these are designed for older borrowers, the term might be shorter than standard mortgages. If it’s a repayment mortgage, both the loan amount and interest are gradually paid off.

Pensioner Mortgage Rates

These are tailored for individuals drawing their pensions. They might be similar to retirement mortgages but are specifically aimed at older pensioners.

Rate Implications

Due to the age and potentially shorter loan duration, rates might be slightly higher compared to standard retirement mortgages. However, a solid credit history can help in securing competitive rates.

RIO Mortgage Rates

Retirement Interest Only (RIO) mortgages are a newer product. They allow retirees to pay monthly interest, with the loan amount repayable from the home’s sale when the last borrower dies or moves into care.

Features and Benefits

The major advantage is that borrowers only need to prove they can afford the monthly interest payments, without worrying about the capital repayment. This often allows for larger loan amounts compared to other products.

Release Equity

Equity release, in its broadest sense, encompasses all mechanisms that allow homeowners to access their property’s value. The rates associated with these products play a significant role in determining their suitability.

Comparing Rates – Equity Release for flood risk warning

Before opting for a particular product, it’s crucial to compare rates, either through independent research or with the help of financial advisors. This ensures the most financially sound decision for the homeowner’s unique circumstances.

Role of House Price Movements

The future movement of house prices can influence the equity left in the home. If house prices rise significantly, even with accumulating interest, there might still be substantial equity left. Conversely, stagnant or falling prices can erode the remaining equity faster.

Retirement Interest Only Mortgages

As previously mentioned, RIO mortgages allow for interest repayments, with the capital repaid at the end of the term. Their growing popularity stems from their flexibility and the relatively straightforward affordability assessments.


One of the standout features is the lack of a fixed term. This means the mortgage lasts until the triggering event (like death or moving to care) occurs.

Rate Implications – retirement interest only mortgage rates

Given their longer potential duration, RIO mortgage rates might be higher than standard retirement mortgage rates. It’s essential to consider this when assessing monthly affordability.

In summation, the world of equity release rates is diverse, with various products catering to different needs and financial situations. It’s imperative for homeowners to grasp these intricacies, ensuring that the chosen product aligns with their retirement goals, financial health, and future planning objectives.

What are the current The Melton Building Society rates for equity release?

The Melton Building Society rates for equity release are 2.3% APRC.

Difficult to mortgage property variants include properties in the course of construction or pre-construction, entirely tenanted properties, feuhold/freehold properties (including flats) in Scotland, properties which are made up of multiple titles and properties with single skin brickwork.

Equity Release LTV Percentages

  • 60% lifetime mortgage with flexible drawdown cash release Old Mutual Wealth
  • 60% loan to value monthly payment life time mortgage Bower
  • 50% loan to value lifetime mortgage with flexible drawdown cash release Norton Finance
  • 25% loan to value (LTV) lump sum lifetime mortgages Halifax
  • 25% LTV interest-only lifetime mortgages Central Trust

Some of the most popular LTV percentages of Standard Chartered interest only mortgages for over 65 year olds, Shepherds Friendly mortgages for 60 year olds, Sainsburys mortgages for over 60s, Principality Building Society lifetime mortgages for over 60s, Newcastle Building Society retirement mortgages over 65 and National Counties Building Society mortgages for over 65 are 50%, 55% and 70%.

Does The Melton Building Society offer Equity Release?

Yes, The Melton Building Society Equity Release is 2.24% APRC.

Disadvantages of Home Reversion Schemes

Monthly payment life time mortgage can reduce the inheritance for your family. Interest-only lifetime mortgages may impact ability to claim benefits. You may need to pay a broker’s fee and some products expose you to changes in interest rates.

  • Hodge Lifetime Flexible Drawdown Plan
  • Pure Retirement Drawdown Plan
  • TSB Equity Release Schemes
  • More to Life Flexi Choice Drawdown Lite Plan
  • Royal Bank of Scotland Equity Release
  • Saga Lifetime Mortgage
  • Bridgewater Equity Release Schemes
  • Lloyds Bank Equity Release
  • TSB Equity Release Schemes
  • Saga home reversion schemes
  • Aviva Equity Release
  • More 2 Life Tailored Choice Plan
  • Interest Only Lifetime Mortgage
  • TSB Equity Release Plans
  • Age Partnership Lifetime Mortgage
  • Liverpool Victoria LV= Lump Sum Plus Lifetime Mortgage
  • Stonehaven Equity Release
  • NatWest Equity Release
  • Saga Lifetime Mortgage
Equity Release for flood risk warning

Some of the most common loan to value percentages of LV= mortgages for over 50 year olds, More to life mortgages over 70s, One Family retirement mortgages over 65, Yorkshire Bank equity release schemes for over 55’s, Metro Bank pensioner mortgages over 70s and Axa interest only mortgages for over 70s are 40%, 55% and 65%.

Do The Melton Building Society do Pensioner Mortgages?

Yes, The Melton Building Society Pensioner Mortgages are 1.95% MER.

Retired business owners that may be interested in Home Reversion Schemes

  • Compulsory social security activities Morecambe
  • Manufacture of breakfast cereals and cereals-based food Peterlee
  • Wholesale of household goods other than musical instruments n e c Royal Tunbridge Wells
  • Other sports activities Prudhoe
  • Mining of chemical and fertilizer minerals Moretonhampstead
  • Manufacture of jewellery and related articles Egremont
  • Manufacture of ceramic household and ornamental articles New Mills
  • Wholesale of sugar and chocolate and sugar confectionery Penzance
  • Risk and damage evaluation Luton
  • Other accommodation Leyburn
  • Development of building projects Banbury
  • Production of electricity Southwold
  • Printing n e c Tidworth
  • Manufacture of other men’s outerwear Uckfield
  • Manufacture of office machinery and equipment except computers and peripheral equipment Tadcaster
  • Wholesale of wine, beer, spirits and other alcoholic beverages Cranbrook
  • Retail sale of watches and jewellery in specialised stores Southsea
  • Wholesale of meat and meat products Haxby

Does The Melton Building Society offer Retirement Mortgages?

Yes, The Melton Building Society Retirement Mortgages are 1.89% APRC.

Some of the most common loan to values of TSB interest only mortgages for over 60s, Barclays Bank later life borrowing schemes over 55, Post Office mortgages for pensioners over 60, L&G lifetime mortgages for over 55s, Bank of Scotland later life mortgages for over 70s and Nationwide Building Society mortgages for pensioners over 60 are 35%, 60% and 70%.

Towns of the UK where Lifetime Mortgages are routine

  • Bradley Stoke
  • Horsforth
  • Melton Mowbray
  • Yeovil
  • Bradford-on-Avon
  • Dewsbury
  • Arlesey
  • Harrogate
  • Kesgrave
  • Steyning
  • Sale
  • Belper

Does The Melton Building Society offer Equity Release Under 55?

Yes, The Melton Building Society Equity Release Under 55 is 2.07% APRC.

It’s often found to discover individuals searching for monthly payment lifetime mortgage, monthly payment life time mortgage or monthly payment equity release, however, Legal and General like The Exeter Equity Release are keen to see proof of your personal circumstances in the form of bank statements.

What percentage can be released?

The older you are and the unhealthier you are the more cash you can release.

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

No flooding history and/or low flood risk
Properties that have flooded morethan 10 years ago and are not situatedin a high flood riskarea.
Properties that have flooded in the last10 years or are situated in a highflood or coastal erosion risk area.

Popular retirement mortgage products are TSB interest only mortgages for people over 60, Barclays lifetime mortgages, Halifax mortgages for people 60 plus, Legal and General interest only mortgages for people over 60 and Nationwide BS pensioner mortgages.

Does The Melton Building Society offer Lifetime Mortgages?

Yes, The Melton Building Society does lifetime mortgages at 1.93% APRC. The Melton Building Society Lifetime Mortgages have a LTV of 75%.