Remove tax-free cash from your house
You don’t need to make regular monthly payments
Help your family to buy a house
Free valuation
Still, have some mortgage outstanding? No problems
Continue to live in your own house
APR 1.87%

How much can I release?

You can borrow 65% of your home’s value. As an example, if your home is valued at £340000 you can release £221000.

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Common loan to value ratios of TSB mortgages for 60 year olds, Barclays Bank interest only mortgages for people over 70, NatWest interest only lifetime mortgages for people over 60, L&G mortgages over 70s, RBS interest only mortgages for over 60s and Nationwide lifetime mortgages for over 55s are 35%, 55% and 65%.

Common LTV percentages of LVE mortgages over 65, More to Life pensioner mortgages over 60, OneFamily interest only lifetime mortgages for over 60s, Yorkshire Bank later life mortgages for over 70s, Metro Bank retirement interest only mortgages over 60 and Sun Life over 60 lifetime mortgages no fees are 50%, 55% and 70%.

Popular loan to value ratios of Aviva interest only lifetime mortgages for over 60s, Direct Line lifetime mortgages for people over 55, Churchill later life interest only mortgages over 70, Skipton Building Society mortgages for over 70s, West Bromwich Building Society equity release schemes for over 55’s and Cumberland Building Society interest only mortgages for over 60s are 40%, 60% and 70%.

Hard to mortgage property types include properties where proposed building works have not yet commenced, entirely tenanted properties, right to buy – properties in Scotland, commonhold properties and properties with leased solar panels.

Successful business owners who could benefit from equity release tax planning

Manufacture of industrial gases Launceston
Production of lifting and handling equipment Blackburn
Retail of furniture, lighting, and similar not musical instruments or scores in specialised store Romsey
Manufacture of plastics in primary forms Fordbridge
Production of other electrical equipment Torquay
Distribution of gaseous fuels through mains Desborough
Trade of gas through mains Wetherby
Installation of industrial machinery and equipment Gravesend
Repair of electronic and optical equipment East Retford
Construction of bridges and tunnels Woodbridge
Retail sale of textiles in specialised stores Huntingdon
Human resources provision and management of human resources functions Tynemouth
Wholesale of furniture, carpets and lighting equipment Ventnor
manufacture of household textiles Wendover
Manufacture of fibre optic cables Rushden
Production of other non-distilled fermented beverages Guildford
Post-harvest crop activities Settle
Manufacture of computers and peripheral equipment Sandiacre

Towns where retirement mortgages are routine

Coalville
Wellingborough
Midsomer Norton
Leyton
Hemel Hempstead
Kirkbymoorside
Ellesmere
Northwich
Shifnal
Dudley
Polegate
West Bedlington
Horsham
Fordbridge
Rothwell
Mirfield
Buxton
Woburn

More 2 Life Flexi Choice Voluntary Payment Super Lite
Just Retirement Interest Only Lifetime Mortgage
More to life Capital Choice Plus Plan
Stonehaven Interest Select Plan
Lloyds Bank Lifetime Mortgage
NatWest Equity Release Schemes
Bridgewater Lifetime Mortgage
Just Retirement Equity Release Schemes
Pure Retirement Equity Release
Bridgewater Equity Release
L&G Legal & General Flexible Lifetime Mortgage
More to Life Capital Choice Plus Plan
Aviva Equity Release Schemes
Liverpool Victoria LV= Flexible Lifetime Mortgage
Stonehaven Interest Only Lifetime Mortgage
TSB Equity Release Schemes

Equity Release LTV

60% lumpsum lifetime mortgages VitalityLife Equity Release
55% loan to value (LTV) home reversion schemes Key Retirement
30% LTV monthly payment lifetime mortgage Keystone
50% loan to value (LTV) interest-only lifetime mortgages Norton Finance
40% loan to value monthly payment lifetime mortgage 1st Stop Home Loans
25% LTV home reversion schemes Loughborough Building Society

The lender will want to know if the property is a Semi detached freehold house or a Leasehold house and if the resident is an AST Tenant.

How much is it common to release from a home

The more elderly you are, and the unhealthier you are, the more money you can release.

Drawbacks of Home Reversion Schemes

A monthly payment lifetime mortgage can reduce the value of your estate. Lumpsum lifetime mortgages may impact the ability to get state benefits. You may need to pay an advisor’s fee, and you could be exposed to changes in interest rates with some products.

Hard to mortgage home variants can include timber framed properties built before 1920, properties with pre 1945 asbestos or similar composition roof tiles, steel frame/clad properties built before 1990, coach houses i.e. freehold properties with garages beneath and privately developed flats in blocks of three or four storeys without a lift.

Challenging to mortgage property titles can include grade ll Listed houses (grade C in Scotland and B2 in Northern Ireland), properties converted from modern commercial premises, properties with more than one annexe or self-contained part of the property, properties with flying or creeping freeholds which comprise over 15% of the total floor area and properties that have a private water supply provided a contract is in place with an approved maintenance company for regular testing and maintenance.

Aviva Drawdown Lifetime Mortgages

Hodge Lifetime Drawdown Lifetime Mortgages

Legal and General Mortgages

Equity Release Scheme Providers

Key Solutions
Prudential Lifetime
the Telegraph
Santander

It is common to discover people seeking out home reversion schemes, lumpsum lifetime mortgages or interest-only lifetime mortgages. However, Age Partnership like Royal London Equity Release is keen to see paperwork to show your situation in the form of pension statements.

Challenging to mortgage property variants include properties with legal agreements such as Overage, Clawback, Option, Pre-emption, or any onerous Restrictive Covenant, 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 where there are boundary disputes or where planning applications have not been applied for correctly, cob property and properties that has never been registered with the land registry.

Common pensioner finance products include Lloyds equity release schemes, Barclays mortgages for 60 year olds, Halifax retirement mortgages, Legal & General RIO mortgages and Nationwide equity release plans.

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