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4.99% Coventry Equity Release from February 2025 – Lifetime Mortgage

  • Remove tax-free equity from your property with Coventry Equity Release.
  • No need to make regular monthly payments
  • Use the cash to pay off loans and credit cards.
  • Do you still have a mortgage? We can help with that.
  • Continue to live in your home.

How much can I get?

You can achieve 60% of your home’s valuation. For example, if your house is valued at £220,000, you can release £132,000.

  • Free No Obligation Quote

  • Please enter a number from 3000 to 2000000000.
  • Please enter a number from 30000 to 100000000.
  • Leave blank if no mortgage outstanding
  • About You

Recently completed mortgage, equity release and lifetime mortgage cases

julia-a

Julia A

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

mr-g

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 gave them an excellent mortgage deal, especially one poorly paid son.

mrs-daly

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’s birth and a year’s rent in advance for a new flat for the baby.

RIO

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.

RIO

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.

RIO

Mrs L from Nottingham

I had to pay valuation and solicitor fees for my lifetime mortgage but no lender or broker fees. 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.

RIO

Mrs M from Birmingham

With no broker or 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.

RIO

Mr Smith from Kendal

My financial advisor told me I should get equity release and gift money to my five children now as it would save a massive amount of inheritance tax.

RIO

Mrs V from Hastings

I had spent my life accruing credit cards and loans, then getting interest-only mortgages to pay off the debt. I reached 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 a £180,000 equity release, and now I am more comfortable with no monthly repayments. I also spent £20,000 on a new bathroom and kitchen, so I now know I can stay home.

RIO

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.

RIO

William from London

My lawyer told me 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.

RIO

Sandra from Manchester

I got an equity release to give my daughter money to buy a house. Without the money I borrowed, her buying a home would have been impossible.

  • Free No Obligation Quote

  • Please enter a number from 4000 to 20000000.
  • Leave blank if no mortgage outstanding
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London House Finance

Does Coventry offer Lifetime Mortgages?

Yes, Coventry does lifetime mortgages at 2.18% MER. Coventry Lifetime Mortgages have a loan-to-value (ltv) of 75%.

Cash tied up in home

Does Coventry offer Equity Release Under 55?

Yes, Coventry Equity Release Under 55 is 1.99% MER.

Home equity Tied Up

Does Coventry offer Retirement Mortgages?

Yes, Coventry Retirement Mortgages are 1.95% APRC.

London House Finance

Does Coventry offer Pensioner Mortgages?

Yes, Coventry Pensioner Mortgages are 2.24% MER.

Natwest Equity Release Mortgage

Does Coventry do Equity Release plans?

Yes, Coventry Equity Release is 1.99% APRC.

What are Coventry’s interest rates for equity release?

Coventry rates for equity release are 2.26% APR.

Retired business owners that may be interested in Home Reversion Schemes

  • Technical and vocational secondary education East Cowes
  • Casting of light metals Burton Latimer
  • Licensed carriers Uppingham
  • Residential care activities for the elderly and disabled Epworth
  • Manufacture of other non-metallic mineral products n e c Yateley
  • Other letting and operating of own or leased real estate Royal Leamington Spa
  • Manufacture of plastics and rubber machinery Bentham
  • Residential nursing care facilities Chapel-en-le-Frith
  • Travel agency activities Carterton
  • Machining Lewes
  • Wholesale of live animals Coalville
  • Another retail sale of new goods in specialised stores, not commercial art galleries and opticians Haslemere
  • Renting and leasing of agricultural machinery and equipment in Middleton
  • Sale of new cars and light motor vehicles Kidderminster
  • Manufacture of other milk products Stockport
  • Manufacture of condiments and seasonings Great Torrington
  • Manufacture of light metal packaging Reepham
  • Manufacture of electrical and electronic equipment for motor vehicles and their engines Horley

Does Coventry have positive reviews for equity release?

Yes, Coventry reviews are tip-top for equity release.

Coventry Building Society Mortgage Rates and Remortgage Options

Coventry Building Society is well-regarded for offering a variety of competitive mortgage rates that suit different financial needs, whether you are a first-time buyer or seeking to remortgage. With flexible terms and favourable interest rates, Coventry BS mortgage products attract many homeowners looking to manage their finances effectively.

Understanding Coventry BS Mortgage Rates

The mortgage rates offered by Coventry Building Society are designed to cater to various property types, including non-standard construction properties. This can be a valuable feature if you own a unique property such as a BISF house and need a quick sale or a timber frame property. These properties often have limited appeal on the traditional market, but Coventry BS’s flexible rates can make it easier to remortgage or finance such homes.

Coventry BS Remortgage Solutions

Remortgaging with Coventry Building Society provides a way to reduce monthly payments, access better rates, or release equity. This can be particularly beneficial for those who might otherwise find selling difficult, such as owners of flats with short leases or for those selling flats above shops. Coventry BS remortgage options allow owners to stay home while improving their financial stability.

Considerations for Non-Standard and Unique Properties

Non-standard construction properties often come with unique challenges. For example, houses with single skin walls or those located near overhead power lines may not appeal to all buyers. Coventry BS mortgage products, however, can sometimes accommodate these types of homes, allowing owners to refinance or remortgage without having to navigate the traditional sales market.

Remortgaging with Cladding Issues and BISF Homes

If you own a property affected by cladding issues, such as those that do not require an EWS1 certificate, it can still be possible to sell or remortgage with an EWS1 exemption. Coventry BS’s remortgage options might provide a viable alternative for properties with unique needs, allowing owners to manage costs effectively. Likewise, if you are a BISF homeowner, Coventry BS can be a helpful lender, offering solutions for BISF home buyers and those needing more flexible mortgage terms.

Coventry Building Society’s mortgage and remortgage options cater to various property types and unique situations, making it a reliable choice for homeowners with both conventional and non-standard homes seeking financial stability and growth.

Equity Release LTV

  • 60% home reversion schemes Old Mutual Wealth
  • 30% loan to value monthly payment equity release Evolution Money
  • 50% LTV interest-only lifetime mortgages Paragon Personal Finance
  • 30% LTV home reversion schemes BlueZest
  • Coventry Equity Release

Areas of the UK where equity release is routine

  • Gravesend
  • Great Yarmouth
  • Potton
  • Brampton
  • Rothbury
  • Winchcombe
  • Haverhill
  • Stonehouse
  • Driffield
  • Ampthill
  • Knutsford
  • Penrith
  • Todmorden
  • Ashbourne
  • Diss
  • Nantwich
  • Northam
  • Diss
  • Clare
  • Clun
  • Tipton
  • Shipston-on-Stour
More to life  - Flexi Choice Lite
OneFamily lifetime mortgage

Common LTV ratios of TSB mortgages for 60 year olds, Barclays Bank mortgages for 60 plus, NatWest mortgages for over 60s, Legal and General mortgages for people 60 plus, RBS interest only lifetime mortgages for over 70s and Nationwide BS mortgages for pensioners over 60 are 50%, 55% and 70%.

LV= Flexible Lifetime Mortgage

Common LTV ratios of Liverpool Victoria equity release schemes for over 55’s, More to life mortgages for pensioners over 60, One Family mortgages over 70s, YBS mortgages for over 50 year olds, Principality Building Society remortgages for people over 50 years old and Sun Life mortgages over 70s are 35%, 55% and 70%.

Legal & General Home Finance lifetime mortgage

The lender will want to know if the property is a Freehold terraced house or a Leasehold flat and if the resident is an Owner Occupier’s Primary Residence.

Natwest Equity Release Advice

Popular LTV percentages of Aviva mortgages for those over the 70s, Zurich pensioner mortgages over 60, Sainsbury’s mortgages over 65, Skipton Building Society retirement interest-only mortgages over 75, West Bromwich Building Society retirement interest-only mortgages over 60, and Progressive Building Society mortgages over 70s are 45%, 60% and 65%.

It is usual to find individuals seeking lump sum lifetime mortgages, monthly payment lifetime mortgages, or home reversion schemes. However, Sunlife Plans like Royal London Equity Release are keen to see proof of your situation through pension statements.

Drawbacks of Lifetime Mortgages

A lifetime mortgage with a flexible drawdown cash release can reduce the value of your estate. Monthly payment equity release may impact entitlements to state benefits. You may need to pay an advisor’s fee, and you could have higher rates to pay with some schemes.

Hard-to-mortgage home types include homes requiring essential repairs, properties where tenants live in a self-contained part of the property, suitable properties in England, Wales and Northern Ireland, properties where the customer is offering only part of the title as security for the loan and freehold flats (England, Wales, Northern Ireland).

  • Bridgewater Lifetime Mortgage
  • Lloyds Bank Equity Release Plans
  • Age Partnership Equity Release Schemes
  • Pure Retirement Equity Release Schemes
  • Stonehaven Equity Release
  • Nationwide Equity Release Plans
  • Royal Bank of Scotland Equity Release Plans
  • Aviva Lifetime Mortgage
  • Liverpool Victoria LV= Lump Sum Plus Lifetime Mortgage
  • Pure Retirement Equity Release
  • Lloyds Bank Lifetime Mortgage
  • Saga Lifetime Mortgage
  • More to Life Tailored Choice Plan
  • Royal Bank of Scotland Equity Release
  • More 2 Life Flexi Choice Voluntary Payment Super Lite

Hard-to-finance home variants can include Timber-framed properties constructed post-1965, properties with pre-1945 asbestos or similar composition roof tiles, sizeable concrete panel systems, freehold/freehold flats (Scotland only) and privately developed flats in blocks of three or four storeys without lift.

Lenders for Equity Release

  • Age Partnership
  • Prudential
  • Bower
  • Coventry Equity Release

Equity Release Loan To Value similar to Coventry Equity Release

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

Tough-to-mortgage home variants can include flats of less than 30 square metres in any location, properties with a large number/scale of outbuildings, properties without direct access to an adopted highway or which are accessed over an unmade road, properties with mobile phone masts which are not within influencing distance of the house 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 Retirement Mortgages

Tough-to-finance home variants can include rent charges, properties with a high estate rent charge, leasehold properties with a short lease, typically less than 70 years, or a defective lease, some with sitting tenants or regulated tenancies, corrugated iron construction and concrete frame.

Pure Retirement

Is Coventry closing?

No, Coventry has a long-term plan to be in the UK lending market.

How stable is Coventry?

The Coventry is strictly regulated in the UK. It easily meets all the capital requirements for a financial institution of its size.

Is Coventry Good?

Yes, Coventry BS have excellent RIO mortgages, Lifetime mortgages, equity release and interest-only lifetime mortgages at low rates similar to standard mortgages for younger people.

Where is Coventry’s headquarters?

Principal Office: Coventry House, Harry Weston Road, Binley, Coventry, West Midlands CV3 2TQ.

Who are Coventry’s competitors?

Nationwide Building Society, Natwest Bank, Lloyds Bank, TSB bank and Cumberland building society.

Does Coventry offer pensioner remortgages over 70

Yes, the Coventry remortgages over 70 can have very low rates.

Does Coventry do retirement remortgages for those over 60?

Yes, a Coventry retirement remortgage for people over 60 is a 3.57% APR variable.

Does Coventry offer pensioner remortgages for over 60s?

Yes, a Coventry pensioner remortgage for retired homeowners over 60 is 3.46% APRC fixed for life.

Does Coventry offer a later life remortgage over 60?

Coventry’s later life remortgages for the over 60s are 3.43% APRC variable.

Does Coventry do the best remortgage for the retired over 60?

Yes, Coventry, the best remortgages for the over 60s are 3.08% AER fixed.

Does Coventry offer remortgaging options for the over 60s?

A Coventry remortgaging option for people over 60 is 3.68% MER fixed.

Does Coventry offer mortgage calculators for over 60s?

Yes, a Coventry mortgage calculator for retired homeowners over 60 will show 3.63% MER variable.

Does Coventry offer a RIO mortgage for retired homeowners over 60?

Yes, Coventry RIO mortgages for over 60s are 3.49% APR fixed.

Does Coventry do retirement interest only mortgages for over 60s?

Yes, a Coventry retirement interest-only mortgage over 60 is 3.74% APRC fixed.

Amelia Gould from Colchester on RIO Mortgages in Coventry

I recently explored RIO mortgages in Coventry and was encouraged by the positive feedback on Trustpilot. Their calculator was a critical tool, clarifying the loan-to-value ratios. The low interest rates and no-fee policy were precisely what I was looking for, making my retirement planning much more manageable.

Maisie Storey from Stirling on Coventry Building Society Retirement Mortgage Reviews

My decision to go with a Coventry Building Society retirement mortgage was heavily influenced by reviews I read on Google Reviews. The absence of monthly repayments and the provision of a free valuation made the process transparent and straightforward, aligning perfectly with my financial planning for retirement.

Amelia Andrews from Wakefield on Pensioner Mortgages Coventry BS Reviews

After extensive research, including insights from reviews.io, I decided on a pensioner mortgage with Coventry BS. The inclusive approach, evident in their no credit check policy, was a significant factor for me, particularly considering my bad credit history. This approach allowed me to secure my financial future without undue stress.

Ella Sutton from Scotland on Coventry Building Society Lifetime Mortgage Interest Rates

The detailed reviews on Trustpilot made choosing a lifetime mortgage from Coventry Building Society easier. The competitive low interest rates and transparent no-fees policy gave me the financial stability and peace of mind I needed for my retirement planning.

Noah Allan from Wrexham on Coventry Building Society Interest Rates Equity Release Mortgage

My journey into an equity release mortgage with Coventry Building Society began after reading insightful reviews on Google Reviews. The lender’s online calculator and its clear policies on loan-to-value ratios, no fees, and free valuation ensured a smooth and beneficial process, making it an ideal choice for my financial needs.

Last updated: January 24, 2025 at 11:31 am

Updated: 16 day(s) ago

Today's date: February 9, 2025

Remaining days in the month: 19 day(s)

Property MetricValue
Equity Release Over 554.81%
Retirement Interest Only Mortgage (RIO) Income Required4.63%
Interest Only Lifetime Mortgages4.73%
Standard UK Residential Mortgage 2 Year Fixed4.54%
Standard UK Residential Mortgage 5 Year Fixed4.41%
Adverse Credit UK Residential Mortgage 2 Year Fixed5.26%
Adverse Credit UK Residential Mortgage 5 Year Fixed5.12%
Homeowner Loans6.76%
Bad Credit Secured Loans9.87%
Prime Car Finance4.78%
Bad Credit Car Finance7.79%
Average Number of Days for a House Sale to Complete121
Average UK House Price£295000
Average UK House Price Per Square Foot£268.18