5.01% Furness Building Society Equity Release – Free Valuation

• Remove tax-free cash from your property with Furness Building Society Equity Release
• No need to make regular monthly payments
• Free valuation
• 5.01% fixed for life
• Help a member of your family buy their own home that they couldn’t afford otherwise
• Stay living in your own home for as long as you like

How much money can I release?

You can get 65% of your property’s value. For example, if your home is valued at £320000 you can borrow £208000.

Customer Testimonials

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 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.

Ms G from Dover

I divorced my husband who was a violent alcoholic. I really 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 home.

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 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.

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.

David P

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.

Mrs M from Birmingham

With no broker fees and no 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.

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.

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.

Crown

One Family

Just Mortgages

LV Lifetime Mortgages

Aviva Retirement Mortgages

It is very regular to find people seeking out home reversion plans, lumpsum lifetime mortgages or interest-only lifetime mortgages, however, Legal and General like Legal & General are keen to see proof of your personal circumstances in the form of bank statements.

How much is it common to release from a home – lenders similar to Furness Building Society Equity Release

• 55% monthly payment lifetime mortgage AA equity release
• 60% loan to value (LTV) lifetime mortgage with flexible drawdown cash release Just Retirement
• 25% loan to value (LTV) monthly payment lifetime mortgage United Trust Bank
• 30% loan to value monthly payment lifetime mortgage Principality
• 50% loan to value monthly payment equity release Just Retirement
• 35% loan to value monthly payment lifetime mortgage Pepper
• 30% loan to value lumpsum lifetime mortgages Norton Home Loans

Furness Building Society Equity Release

• Natwest Retirement Mortgage Rates 2024
• Yorkshire Bank Equity Release Mortgage
• Tipton & Coseley Mortgage Home Reversion Plan
• Natwest Lifetime Mortgage Comparison

Navigating Lifetime Mortgage Interest Rates Over 60 and Equity Release Rates Over 70

For homeowners in the UK aged over 60 and 70, exploring the intricacies of lifetime mortgage interest rates and equity release rates is essential. These financial tools, often provided by institutions like Furness Building Society, can significantly impact financial decisions in later life.

Furness Building Society: A Glimpse

Furness Building Society is one of the financial institutions that offer mortgage products and services, including mortgages suitable for those over 60 and 70. Understanding their rates and offerings is crucial when considering financial options.

Lifetime Mortgage Interest Rates Over 60

Lifetime mortgages, a popular choice for those aged over 60, allow homeowners to release equity while retaining property ownership. Interest rates for these mortgages can vary based on factors like age, property value, and loan-to-value ratio. Borrowers over 60 may have access to more favorable rates due to their age, making it essential to shop around for competitive offers.

Equity Release Rates Over 70

Equity release rates for individuals over 70 are influenced by factors similar to those for the over-60 age group. Older borrowers often enjoy lower rates due to the shorter expected loan term, making equity release an attractive option for addressing financial needs in later life.

Making Informed Decisions

Navigating the landscape of lifetime mortgage interest rates and equity release rates over 70 requires careful consideration. Homeowners should seek professional financial advice, explore various offers, and assess long-term financial goals to make informed decisions that align with their unique circumstances.

In conclusion, for those over 60 and 70, understanding the nuances of lifetime mortgage interest rates and equity release rates is crucial when making financial decisions. Institutions like Furness Building Society offer options tailored to these age groups, providing opportunities for financial security and flexibility in later life.

• Natwest Equity Release
• Barclays Retirement Interest Only Mortgage
• Lloyds Bank Equity Release From House
• Lloyds Lifetime Mortgage Interest Only Rates

Unlocking the Mysteries of Equity Release Rates: A Comprehensive Guide

As homeowners reach their retirement years, they often find themselves in a unique financial situation. They may have substantial equity tied up in their homes, but limited income to support their lifestyle and financial needs. In such cases, equity release becomes a viable option. This comprehensive guide will delve into the world of equity release rates, catering to various age groups, including mortgages over 55, over 60, over 65, over 70, and over 75. We will also explore specialized options like retirement remortgages, pensioner remortgage, lifetime mortgages, release equity plans, and Retirement Interest-Only (RIO) mortgages.

Mortgages Over 55: A Gateway to Financial Flexibility

Unlocking Equity Release Opportunities at 55

Equity release isn’t exclusive to retirees; individuals aged over 55 can also explore this financial option. It provides a means to supplement income, fund home improvements, or support lifestyle choices. Understanding how interest rates come into play is essential when considering equity release.

Lifetime Mortgages for Those Over 55

Lifetime mortgages are a popular choice for homeowners over 55 who wish to release equity. These mortgages allow individuals to borrow against their property’s value while retaining ownership. The borrowed amount, along with accrued interest, is typically repaid when the homeowner passes away or moves into long-term care.

Navigating Equity Release Rates for Mortgages Over 55

Interest rates for equity release products targeting those over 55 can vary, influenced by factors such as age, property value, and loan-to-value ratio. To select the most suitable plan, borrowers must compare offers from various lenders and consider the long-term cost implications.

Mortgages Over 60: Enhancing Financial Stability

Financial Opportunities Beyond 60

Individuals over 60 often have a more substantial equity value in their homes, making them eligible for larger equity release sums. Equity release can provide financial stability during retirement and support various lifestyle choices.

Release Equity: Empowering Over 60s

Equity release allows individuals over 60 to unlock a lump sum or receive regular payments, enabling them to achieve financial goals or realize long-held dreams, such as travel or home improvements.

Lifetime Mortgages: A Preferred Choice for Over 60s

Lifetime mortgages remain a preferred option for those over 60, offering flexibility and features such as drawdown plans, which allow borrowers to access funds as needed while accruing interest only on the withdrawn amount.

Understanding Equity Release Rates for Over 60s

Interest rates for equity release products targeting those over 60 are shaped by factors like age, property value, and loan-to-value ratio. Borrowers should diligently assess the rates offered by different lenders to secure favorable terms.

Mortgages Over 65: Meeting Evolving Financial Needs

Adapting to Changing Financial Priorities Post-65

As individuals enter their mid-60s, their financial priorities may evolve, making equity release an appealing option to access funds tied up in their homes. Equity release can help fund healthcare expenses, home adaptations, or simply enhance their retirement lifestyle.

Retirement Remortgages for Over 65s

Retirement remortgages serve as a form of equity release tailored for those over 65. This option allows homeowners to switch their existing mortgage to release equity, potentially securing a lower interest rate or additional borrowing.

Navigating Equity Release Rates for Over 65s

Interest rates for equity release products targeting those over 65 are determined by factors like property value, age, and loan-to-value ratio. Prospective borrowers must carefully evaluate rates offered by different lenders to identify the most cost-effective solution.

Mortgages Over 70: Securing Financial Stability

The Significance of Equity Release Beyond 70

For individuals over 70, equity release can provide much-needed financial support, covering essential expenses, aiding family members, or enabling them to make the most of their retirement without the need to downsize or sell their homes.

Pensioner Remortgage: A Strategic Choice for Over 70s

Pensioner remortgages represent a specialized equity release option for those over 70. They offer the opportunity to remortgage an existing property to release equity or secure a more favorable interest rate.

Navigating Equity Release Rates for Over 70s

Interest rates for equity release products targeting those over 70 can vary. Borrowers in this age group should explore the rates offered by various lenders, taking into account the long-term financial impact of their decisions.

Mortgages Over 75: Addressing Complex Financial Needs

Meeting Complex Financial Needs Beyond 75

As individuals cross the age of 75 and beyond, their financial requirements may become more intricate. Equity release can provide a practical solution, allowing them to address these needs while remaining in their homes.

The Role of Lifetime Mortgages for Over 75s

Lifetime mortgages continue to be a valuable option for those over 75, offering customized solutions to meet their unique financial objectives.

Delving into Equity Release Rates for Over 75s

Interest rates for equity release products targeting those over 75 may differ from rates for younger age groups. Borrowers in this category should explore the rates offered by various lenders to identify the most cost-effective solution.

Retirement Remortgages: Enhancing Financial Options

Retirement Remortgages: A Comprehensive Overview

Retirement remortgages constitute a form of equity release that enables homeowners to remortgage their properties to release equity. This option can be particularly beneficial for individuals looking to secure a lower interest rate or access additional funds.

The Flexibility of Retirement Remortgages

Retirement remortgages offer flexibility, allowing borrowers to tailor their mortgage terms to their specific requirements. This can involve choosing between lump-sum payments, regular income, or a combination of both.

Interest Rates for Retirement Remortgages

Interest rates for retirement remortgages can vary, depending on the lender and the borrower’s circumstances. It is essential for individuals considering this option to compare rates and comprehend their financial implications.

Pensioner Remortgage: Tailored Financial Solutions

Unveiling the Potential of Pensioner Remortgages

Pensioner remortgages cater specifically to retirees seeking to release equity from their homes. These mortgages can help supplement retirement income or fund essential expenses.

The Benefits of Pensioner Remortgages

Pensioner rem

ortgages offer various advantages, including the ability to access cash without selling the property and the potential to secure a more favorable interest rate.

Equity Release Rates for Pensioner Remortgages

Interest rates for pensioner remortgages may vary based on factors such as property value, loan-to-value ratio, and the borrower’s age. It is imperative for retirees to assess the rates offered by different lenders to find the most cost-effective option.

Lifetime Mortgage: A Path to Financial Freedom

Unpacking the World of Lifetime Mortgages

Lifetime mortgages are a popular equity release product, allowing homeowners to borrow against their property’s value while retaining ownership. Typically, these mortgages are repaid when the homeowner passes away or enters long-term care.

Exploring the Versatility of Lifetime Mortgages

Lifetime mortgages offer diverse features, including drawdown plans, interest roll-up options, and inheritance protection, making them a versatile choice for those looking to release equity.

Understanding Interest Rates for Lifetime Mortgages

Interest rates for lifetime mortgages can vary depending on several factors, such as age, property value, and loan-to-value ratio. Borrowers should diligently assess the rates offered by different lenders to select the most cost-effective solution.

Release Equity: A Path to Financial Freedom

The Liberation of Financial Freedom through Equity Release

Equity release empowers homeowners with the financial freedom to pursue their goals, whether it’s clearing debts, renovating their homes, or simply enjoying a comfortable retirement.

Diverse Forms of Equity Release

Equity release encompasses various options, including lifetime mortgages, home reversion plans, and Retirement Interest-Only (RIO) mortgages. Each option has its unique characteristics and considerations.

Evaluating Equity Release Interest Rates

Interest rates for equity release products can significantly impact the long-term cost of borrowing. Borrowers should carefully analyze interest rates and associated terms to ensure they align with their financial goals.

RIO Mortgage: An Alternative Equity Release Option

Unveiling the RIO Mortgage

Retirement Interest-Only (RIO) mortgages represent an alternative equity release option. With RIO mortgages, borrowers pay only the interest on their loan during their lifetime, with the capital amount repaid when they sell the property or move into long-term care.

The Nuances of RIO Mortgage Interest Rates

Interest rates for RIO mortgages can vary depending on factors such as age and property value. Borrowers should consider these rates carefully when evaluating RIO mortgages as an equity release option.

Navigating the Equity Release Landscape

Equity Release Rates: A Vital Consideration

Interest rates play a pivotal role in equity release, impacting the overall cost of borrowing and the potential financial benefits. Borrowers of all age groups must meticulously research and compare rates to make informed decisions.

Seeking Expert Advice

Given the complexities of equity release, seeking professional financial advice is crucial. Independent financial advisors can assess individual circumstances and provide tailored guidance on equity release options and their associated rates.

The Importance of Informed Decisions

Making informed decisions about equity release rates involves thoroughly understanding the terms and conditions, comparing offers from multiple lenders, and considering long-term financial goals. This approach ensures that equity release aligns with individual needs and aspirations.

Equity release rates are a fundamental aspect of the financial landscape for homeowners over 55, 60, 65, 70, and 75. These rates vary depending on factors such as age, property value, and the chosen equity release product. Whether opting for lifetime mortgages, retirement remortgages, pensioner remortgages, release equity plans, or RIO mortgages, individuals must conduct thorough research, seek expert advice, and make informed decisions to secure their financial future during retirement.

• Nationwide Retirement Mortgage Comparison
• Nationwide Lifetime Mortgage Comparison
• Best Mortgages For Over 50s Retirement Mortgage UK
• Age Partnership Broker
• Nationwide Equity Release
• Bad Credit Mortgage Interest Rate
• nationwide mortgages for over 60s Retirement Mortgages Providers
• Halifax Equity Release Brokers UK
• BISF Equity Release Retirement
• YBS Lifetime Mortgage Broker

Towns of the UK where Furness Building Society Equity Release are common

• Leigh
• Kirkby Stephen
• Faringdon
• Sandbach
• Wath-upon-Dearne
• Seaford
• Chard
• Bridport
• St Austell
• Great Yarmouth
• Craven Arms
• Hedon
• Bewdley
• Ilkley
• Hednesford

The lender will want to know if the property is a Detached freehold house or a Leasehold flat and if the resident is an owner-occupier.

• More 2 Life Flexi Choice Drawdown Lite Plan
• Lloyds Bank Equity Release Plans
• TSB Equity Release
• NatWest Equity Release Plans
• Bridgewater Equity Release
• More to Life Capital Choice Plan
• Pure Retirement Classic Drawdown Lite Plan
• More 2 Life Capital Choice Plus Plan
• Age Partnership Lifetime Mortgage
• Bridgewater Lifetime Mortgage
• Liverpool Victoria LV Equity Release Plans
• Pure Retirement Equity Release
• Stonehaven Equity Release
• Lloyds Bank Equity Release Plans
• TSB Equity Release Schemes
• NatWest Equity Release Plans
• Royal Bank of Scotland Lifetime Mortgage
• Aviva Equity Release
• More to Life Capital Choice Plan

How much is it common to release from a home

The older you are and the more serious your illnesses you are the more tax-free cash you can release.

Equity Release Scheme Lenders

• Just Retirement
• Norwich Union
• Sunlife Plans
• Pure Retirement
• Furness Building Society Equity Release

Pitfalls of Furness Building Society Equity Release Schemes

Lumpsum lifetime mortgages can reduce the inheritance for your family. Interest-only lifetime mortgages may impact the ability to get state benefits. You may need to pay a solicitor’s fee and some products expose you to changes in interest rates.

Successful business owners who could benefit from Home Reversion Scheme tax planning

• Licensed clubs High Wycombe
• Residential care activities for the elderly and disabled Stony Stratford
• Tea processing Redenhall with Harleston
• Combined facilities support activities Otley
• Retail sale of leather goods in specialised stores in Southsea

Appealing retirement loan offerings are Lloyds interest only retirement mortgages for over 70s, Barclays Bank interest only mortgages for over 65 year olds, Post Office pensioner mortgages, L&G mortgages for 60 plus and Nationwide BS lifetime mortgages.