Equity Release and Lifetime mortgage deals for joint ownership property

joint-ownership

  • Remove tax-free cash from your house even with a joint ownership
  • No regular monthly payments
  • Help your family with the cash you release
  • Stay living in your own house
  • Variable rates as low as 1.98% APR
  • Fixed rates of 2.12%
  • Rates have gone down in 2021
  • Your Requirements

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

RIO

I got 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.

RIO

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.

RIO

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.

RIO

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 equity release to pay off my mortgage.

julia-a

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.

david-p-london

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.

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 made it possible for them to get a very good mortgage deal, especially one son who is not well paid.

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 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.

  • Your Requirements

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

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Raise money with your home
Money tied up in home
Homeowner in their 60s
Canada Life - Lifestyle Gold

 

 

More2Life - Capital Choice Plus Plan

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

It’s usual to encounter people looking for lumpsum lifetime mortgages, monthly payment lifetime mortgage or home reversion plans, however, Aviva like The Exeter Equity Release are keen to see paperwork to show your personal circumstances in the form of bank statements.

Lenders for UK Equity Release

  • Key Retirement
  • Liverpool Victoria
  • Legal and General

 

Progressive Building Society Interest Only Mortgage

Downsides of Lifetime Mortgages

A monthly payment lifetime mortgage can reduce your estate value. Home reversion schemes may impact the ability to claim entitlements. You may need to pay a broker’s fee and you could be exposed to changes in interest rates with some products.

  • Aviva Equity Release Schemes
  • More2Life Flexi Choice Voluntary Payment Super Lite
  • Royal Bank of Scotland Equity Release Schemes
  • Aviva Lifetime Mortgages for Pensioners
  • Bridgewater Equity Release
  • L&G Legal & General Flexible Lifetime Mortgage
  • Liverpool Victoria LV Equity Release Schemes
  • Nationwide Equity Release
  • HSBC Equity Release Schemes
  • Just retirement equity release key features
  • L&G Legal & General Flexi Max Voluntary Repayment Plan
  • HSBC Equity Release Schemes
  • Royal Bank of Scotland Lifetime Mortgage
  • Bridgewater Equity Release Plans
  • Canada Life Landlord Voluntary Select Plan
  • More2Life Tailored Choice Plan
  • Nationwide Equity Release Schemes
  • HSBC Lifetime Mortgage

 

Business owners who could benefit from equity release estate planning

  • Manufacture of wine from grape Stourbridge
  • Service activities incidental to water transportation Warwick
  • Television programming and broadcasting activities Oakham
  • Other retail sales in non-specialised stores St Austell
  • Manufacture of other transport equipment n e c Neston
  • Other passenger land transport Madeley
  • Installation of industrial machinery and equipment Malton
  • Activities of extraterritorial organizations and bodies Bishop Auckland
  • Urban planning and landscape architectural activities South Woodham Ferrers
  • Manufacture of wiring devices Fleet
  • Photocopying, document preparation and other specialised office support activities Brading
  • Manufacture of ready-mixed concrete Willesden
  • Activities of households as employers of domestic personnel Chagford
  • Specialised cleaning services Richmond
  • Manufacture of non-electronic measuring, testing etc equipment, not for industrial process control Ludlow
  • Manufacture of corrugated paper and paperboard, sacks and bags Belper
  • Repair of electronic and optical equipment Stony Stratford
  • Other non-ferrous metal production Horwich

 

Towns where equity release is common

  • Dursley
  • Southall
  • Whaley Bridge
  • Looe
  • Sandown
  • Tow Law
  • Rochford
  • Hingham
  • Ollerton and Boughton
  • Bourne
  • West Ham
  • Boroughbridge
  • Soham
  • Broseley
  • Newhaven

 

Equity Release LTV Percentages

  • 55% lump sum lifetime mortgages Old Mutual Wealth
  • 40% loan to value lump sum lifetime mortgages Stepchange
  • 30% loan to value monthly payment lifetime mortgage Bank of China UK
  • 35% loan to value home reversion plans LV equity release
  • 60% loan to value lump sum lifetime mortgages Norton Finance
  • 45% loan to value lumpsum lifetime mortgages Optimum Credit

Crown Mortgages

More2Life Retirement Mortgages

Crown Lifetime Mortgages

Progressive Building Society Over 75 Mortgage

 

Equity Release percentages of your current property value

The more elderly you are and the unhealthier you are the more money you can release.
Equity Release for properties owned as tenants in common