5.11% Legal & General Equity Release with Free Valuation

• Remove tax-free cash from your home with Legal & General Equity Release
• You don’t need to make regular monthly payments
• Free valuation
• Help your family get a deposit for their own home
• Still have some mortgage outstanding? No problems
• Continue to live on your own property
• 5.11%

How much cash can I get?

You can borrow 65% of your property’s valuation. For example, if your house is worth £330,000, you can borrow £214,500.

Customer Reviews for Legal & General Equity Release

Mr Williamson from Chiswick

My son is a chef in a care home. He is poorly paid, and his bank would not lend him the money to buy a flat. My equity release allowed him to put down a substantial deposit, so his mortgage was minimal. My equity release interest rate was close to the interest rate his bank offered.

Mrs L from Nottingham

For my lifetime mortgage, I had to pay a valuation fee and a solicitor’s fee, 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.

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 take out an equity release on 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.

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.

David P

With my power of attorney, I got an equity release on my father’s house to pay for disability provisions, including a lift and a new kitchen.

Julia A

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

How much is it expected to release from a home?

The older you are and the more illnesses you have, the more cash you can release.

Drawbacks of Home Reversion Schemes

A lifetime mortgage with a flexible drawdown cash release can reduce the inheritance for your family. Home reversion plans may impact the ability to claim entitlements. You may need to pay a solicitor’s fee, and you could have higher rates to pay with some schemes.

Typical loan-to-values of Lloyds Bank mortgages for people 60 plus,later life borrowing schemes over 55, NatWest interest only lifetime mortgages for over 70s, Legal & General interest-only mortgages for over 60s, RBS interest-only lifetime mortgages for people over 60 and Nationwide interest-only lifetime mortgages for over 70s are 50%, 55% and 70%.

The common loan-to-values of Liverpool Victoria mortgages for pensioners over 60, More to Life mortgages for pensioners over 60, OneFamily mortgages for people 60 plus, YBS equity release schemes for over 55s, Metro Bank equity release plans for people over 60, and Sun Life pensioner mortgages over 55 are 45%, 55%, and 65%.

Some of the most popular loan-to-value percentage ratios of Standard Chartered mortgages for over 60s, Zurich over 60 lifetime mortgages, Leeds Building Society interest-only lifetime mortgages for over 60s, Skipton Building Society later life borrowing schemes over 55, Newcastle Building Society retirement mortgages over 70 and Cumberland Building Society retirement interest-only mortgages over 75 are 40%, 55% and 70%.

Successful business owners who could benefit from equity release tax planning may find Legal & General Equity Release essential.

• Translation and interpretation activities Alford
• Landscape service activities Cirencester
• Manufacture of other electronic and electric wires and cables Grays
• Renting and leasing of passenger water transport equipment Queenborough-in-Sheppey
• Gathering of wild growing non-wood products Colne
• Maintenance and repair of motor vehicles Tamworth
• Retail sale of antiques, including antique books, in stores in Sandhurst
• Other credit granting n e c Hayes
• Other accommodation Hartlepool
• Satellite telecommunications activities Prudhoe
• Sale of new cars and light motor vehicles Leigh
• Cultural education Fazeley
• Repair of consumer electronics Wednesbury
• Plant propagation Chipping Sodbury
• Manufacture of other carpets and rugs Barton-upon-Humber
• Retail sale of musical instruments and scores Wooler
• Manufacture of knitted and crocheted hosiery Market Deeping
• Production of other food products n e c Louth

Do Legal & General do Equity Release?

Yes, Legal & General Equity Release is 5.11% APRC.

Difficult-to-finance property variants include properties currently undergoing substantial alterations, extensions, or repairs, age-restricted properties, leasehold properties (England, Wales, Northern Ireland) subject to a lease length of 160 years, leasehold properties (except flats and maisonettes), and properties with single-skin brickwork.

What percentage can be released?

• 60% monthly payment lifetime mortgage Old Mutual Wealth
• 40% loan to value (LTV) monthly payment lifetime mortgage Shawbrook
• 30% loan to value (LTV) lifetime mortgage with flexible drawdown cash release Kent Reliance
• 50% LTV home reversion plans Aviva
• 50% LTV lumpsum lifetime mortgages Together Money

Difficult-to-mortgage property variants include timber-framed properties built before 1920, properties with spray foam insulation on the underside of the roof, privately developed flats, blocks of flats with a maximum of four storeys and a lift, blocks of flats with a maximum of two storeys and no lift, and flats above or adjacent to commercial premises.

Do Legal & General do Pensioner Mortgages?

Yes, Legal & General Pensioner Mortgages are 5.16% APR.

The lender will want to know if the property is a detached freehold house or a leasehold flat with a share of freehold and if the resident is an owner-occupant.

• Nationwide Retirement Mortgage Interest Only
• Barclays RIO 2025
• Nationwide Lifetime Mortgage Advisers

• nationwide mortgages for over 60s Retirement Mortgages Interest Rates
• Natwest Retirement Mortgage Broker
• Age Partnership Providers

Legal and General Equity Release Calculator

The Legal & General equity release calculator is helpful for homeowners who want to know how much equity they can unlock. By inputting some basic details, homeowners can estimate the potential equity they can unlock.

L&G Lifetime Mortgages Varieties

L&G recognises that one size doesn’t fit all. Consequently, it offers a range of lifetime mortgage products tailored to specific needs.

• Tipton & Coseley Mortgage Comparison
• Lloyds Lifetime Mortgage Home Reversion Plan
• Lloyds Bank

Legal & General’s Extended Offerings

Legal and General Over 50 Plan

L&G has crafted specific plans for people over 50 that cater to their needs. These plans are ideal for those considering financial planning for their post-retirement phase.

• Bad Credit Mortgage Loan
• BISF Equity Release On Second Homes
• Yorkshire Bank Equity Release Scheme

Legal and General Home Finance

Beyond mortgages and equity releases, L&G offers a range of home finance services to help homeowners manage their property finances efficiently.

L&G Over 50s Offerings

Given the company’s expertise in serving older demographics, the over-50s range of products is expansive, ensuring something suitable for everyone.

• YBS Lifetime Mortgage Calculator
• Natwest Equity Release Drawdown
• Halifax

Adviser Resources: LandG for Advisers

L&G values its adviser community and provides resources tailored for them. Through platforms like LandG for advisers, professionals can access tools, updates, and information to better serve their clients.

Legal and General Mortgage Insurance

L&G offers mortgage insurance products to provide homeowners with peace of mind. These products ensure homeowners can cover their mortgage payments, even in unexpected circumstances.

• Natwest Lifetime Mortgage Advisers
• Nationwide Equity Release Plan

Concluding Remarks on Legal and General’s Products

Equity release is a growing market, especially for an ageing UK population. Legal & General, with its diverse products from lifetime mortgages to equity release plans, stands as a reliable pillar in this landscape. Their focus on transparency, client-centric approach, and continuous innovation makes them a preferred choice for many. For potential clients, using tools like the equity release calculator or consulting with an L&G adviser can be the first step towards unlocking the wealth in their homes.

It is common to encounter individuals seeking lump-sum lifetime mortgages or home reversion schemes. However, Just Retirement, like VitalityLife Equity Release, is keen to see proof of your personal situation through investment statements.

Hodge Lifetime Retirement Mortgages

Tough-to-mortgage home variants can include properties built or converted into dwellings more than ten years ago, properties with a single annexe or another self-contained part of the property, properties with a small number of solar panels or a wind turbine on the land for domestic use, properties using rooms, land or outbuildings for business purposes which are not personal to the borrower(s) or which extend to more than 50% of the property to be secured and properties that have a private water supply provided a contract is in place with an approved maintenance company for regular testing and maintenance.

Legal and General Retirement Mortgages

Do Legal & General do Retirement Mortgages?

Yes, Legal & General Retirement Mortgages are 1.97% MER.

Areas in the UK where retirement mortgages are routine

• Queenborough-in-Sheppey
• Henley-in-Arden
• Lytham St Annes
• Oakengates
• Leatherhead
• Shefford
• Thornbury
• Huddersfield
• Holsworthy
• Lydd
• Kenilworth
• Newton Abbot
• Rowley Regis
• Ventnor

Do Legal & General do Equity Release Under 55?

Yes, Legal & General Equity Release Under 55 is 5.15% APR.

Challenging to finance property titles can include properties built on contaminated land, properties with any structural defect, damp, dry, or wet rot, uninhabitable properties, corrugated iron construction, Reema Hollow panel, Schindler and Hawksley SGS, Stent, Stonecrete, Stour, Tarran, Underdown, Unity and Butterley, Waller, Wates, Wessex, Winget, and Woolaway.

• TSB Equity Release Plans
• NatWest Equity Release
• More to Life Capital Choice Plan
• Bridgewater Equity Release Schemes
• Just Retirement Drawdown Lifetime Mortgage
• More to Life Flexi Choice Drawdown Lite Plan
• Stonehaven Equity Release Plan
• Interest Only Lifetime Mortgage
• TSB Lifetime Interest Only Mortgage
• Canada Life Voluntary Select Gold
• Hodge Lifetime Mortgage Plus
• Nationwide Interest Only Lifetime Mortgage
• More to Life Capital Choice Plan
• TSB Equity Release
• Age Partnership Interest Only Lifetime Mortgage
• Just retirement-defined benefit
• Nationwide Equity Release
• Lloyds Bank Equity Release Plans

Equity Release Scheme Providers

• Bower
• Stonehaven
• Lifetime Mortgage from L&G
• Norwich Union
• Royal London Equity Release

Does Legal & General offer Lifetime Mortgages?

Yes, Legal & General offers lifetime mortgages at 5.11% MER. These mortgages have a loan-to-value ratio of 60%.

Many of the most appealing retirement mortgage products include TSB remortgages for people over 50, Barclays over-60 lifetime mortgages, NatWest retirement mortgages, L&G over-60 lifetime mortgages, and Nationwide Building Society later-life interest-only mortgages.