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4.99% Coventry Equity Release from January 2024 – 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.
  • 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 £220000, you can release £132000.

  • 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 allowed them to get 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 to be born and a years 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 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.

RIO

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.

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 running up credit cards and loans, then getting interest-only mortgages to pay off the debt. I got to 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, and I spent £20,000 on a new bathroom and kitchen. I now know I can stay in my 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 money to my daughter 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
  • About You

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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.

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 discover individuals seeking out lump sum lifetime mortgages, monthly payment lifetime mortgage or home reversion schemes, however, Sunlife Plans like Royal London Equity Release are keen to see proof of your personal situation in the form of 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.