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The Loughborough Building Society Equity Release new for 2021

  • loughborough building societyRelease equity from your house
  • Not necessary to make monthly payments
  • Help your family to buy a house
  • Stay living in your own home

How much cash can I borrow?

You can borrow 60% of your property’s valuation. For example, if your house is valued at £230000 you can get £138000.

  • Your Requirements

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

Customer Reviews

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

Ms G from Dover

I divorced my husband who was a violent alcoholic. I really feared losing my home as I sometimes look after my daughter’s children. Equity release enabled me to pay off my ex and stay secure in my home.

RIO

Mr Williamson from Chiswick

My son is a chef in a care home. He is not well paid. No way his bank would lend him the money to buy a flat. My equity release enabled him to put a substantial deposit down so his mortgage was very small. My equity release interest rate was close to his interest rate offered by his bank.

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 £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

Mrs Shaw from Lancaster

I had an interest-only mortgage with Birmingham Midshires. The mortgage had come to the end of its term and they wanted the £127000 back I still owed them. My lifetime mortgage saved me from losing my home and the rate was close to what I paid before.

RIO

Mr Smith from Kendal

My financial advisor told me that I should get equity release and gift money to my 5 children now as it would save a massive amount of inheritance tax.

RIO

Mrs M from Birmingham

With no brokers fees and no lenders fees, I got an interest-only retirement mortgage which I pay each month from my private pension. The money released went to my daughter for her wedding and deposit for her next house. She wanted a family, and her flat was too small.
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

  • By clicking Submit and ticking the box above you agree to be contacted by an FCA authorised advisor that you have read and agreed to our Terms & Conditions and our Privacy Policy.

Under 65 Home owner
Homeowner in their 60s
Over 55 Home owner

 

Equity Release Lenders

  • Key Retirement
  • Stepchange
  • More2Life

Canada Life Retirement Mortgages

Legal and General Lifetime Mortgages
Equity Release Mortgage Under 55

Challenging to mortgage home titles can include properties will be assessed for flood risk, properties close to mining works, areas of landfill, areas of recent flooding or subsidence, properties where there are boundary disputes or where planning applications have not been applied for correctly, thatched buildings and concrete panel houses.

Just

 

Towns where Lifetime Mortgages are common

  • Padiham
  • Pickering
  • Charlbury
  • Crewkerne
  • Cheshunt
  • Haxby
  • Maryport
  • Cleator Moor
  • Newport Pagnell
  • Bideford
  • West Mersea
  • Knutsford
  • Andover

 

  • Canada Life Prestige Flexi Option
  • Hodge Lifetime Mortgage Flexible Drawdown Plan
  • Pure Retirement Classic Drawdown Lite Plan
  • Stonehaven Interest Select Plan
  • HSBC Lifetime Mortgage
  • Lloyds Bank Lifetime Mortgage
  • Saga Equity Release Plans
  • Aviva Equity Release Schemes
  • Hodge Lifetime Mortgage Flexible Drawdown Plan
  • L&G Legal & General Flexible Lifetime Mortgage
  • Stonehaven Interest Only Lifetime Mortgage
  • Lloyds Bank Lifetime Mortgage
  • NatWest Equity Release Schemes
  • Saga Equity Release Plans
  • More2Life Tailored Choice Plan
  • Pure Retirement Equity Release Plans
  • HSBC Equity Release Plans
  • TSB Lifetime Mortgage
  • NatWest Interest Only Lifetime Mortgage
  • Bridgewater Equity Release Plans
  • Liverpool Victoria LV Equity Release Schemes
  • More2Life Flexi Choice Voluntary Payment Super Lite
  • HSBC Equity Release Schemes
  • Lloyds Bank Lifetime Mortgage

It is usual to discover individuals searching for lump sum lifetime mortgages, monthly payment lifetime mortgage or monthly payment equity release, however, Just Retirement like VitalityLife Equity Release are keen to see paperwork to show your situation in the form of investment statements.

Challenging to mortgage property variants include grade ll Listed houses (grade C in Scotland and B2 in Northern Ireland), properties converted from modern commercial premises, use of the land and any outbuildings for a small amount of personal commercial use., properties that have solar farms or a large number of wind turbines on the land and properties where Japanese Knotweed is present.

The mortgage lender will want to know if the property is a Detached freehold house or a Leasehold flat and if the resident is an Owner Occupier.

Examples of retired business owners likely to have equity to release

  • Silviculture and other forestry activities Newport Pagnell
  • Production of abrasive products Smethwick
  • Video production activities Glastonbury
  • Wholesale of fruit and vegetables Dursley
  • Manufacture of other organic necessary chemicals Maryport
  • Artistic creation Stourport-on-Severn
  • Fitness facilities Peacehaven
  • Manufacture of glues Hayes
  • Manufacture of other women’s outerwear Birkenhead
  • Cold drawing of wire Crewkerne
  • Manufacture of photographic and cinematographic equipment Yate
  • Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes Pershore
  • Retail sale of other second-hand goods in stores, not incl antiques Henley-on-Thames
  • Motion picture distribution activities Saltash
  • Development of building projects Dartmouth
  • Research and experimental development on biotechnology Loftus
  • Collection of hazardous waste Basingstoke
  • Other holiday and other collective accommodation Broughton-in-Furness

More2Life - Flexi Choice Lite

Difficult to finance home types can include pre-fabricated reinforced concrete (PRC), properties with spray foam insulation applied to the underside of the roof, studio flats located within the M25, privately developed flats in blocks of five storeys or more and freehold flats (England, Wales, Northern Ireland).

Pure Retirement - Classic Super Lite

 

Hard to finance home types include properties in the course of construction or pre-construction, properties where multiple third parties are living in an annexe, right to buy – properties in Scotland, properties where the customer is offering only part of the title as security for the loan and properties where the borrower(s) own the freehold with any connected party.

LV= Lump Sum+ Lifetime Mortgage

Equity Release Loan To Value

The more aged you are and the sicker you are, the more tax-free money you can release.

Equity Release LTV

  • 60% lump sum lifetime mortgages Royal London Equity Release
  • 60% loan to value lump sum lifetime mortgages Just Retirement
  • 45% LTV monthly payment lifetime mortgage Saga
  • 60% loan to value lump sum lifetime mortgages Together Money
  • 25% loan to value lumpsum lifetime mortgages Skipton Building Society

 

Downsides of Equity Release Schemes

A monthly payment lifetime mortgage can reduce the value of your estate. A monthly payment lifetime mortgage may impact the ability to claim benefits. You may need to pay a valuation fee, and you could be exposed to changes in interest rates with some products.

Popular LTV percentages of Aviva interest only mortgages for over 60s near London, Direct Line later life borrowing schemes over 55, Sainsburys interest only mortgages for over 60s, Principality Building Society help to buy for over 60s, West Bromwich Building Society later life interest only mortgages over 60 and Cumberland Building Society mortgages for 60 plus pensioners are 45%, 60% and 70%.

Lloyds Bank Retirement Mortgages Home

Popular LTV ratios of Liverpool Victoria mortgages over 70s, More2Life equity release schemes for people over 70, One Family remortgages for people over 50 years old, Yorkshire Bank later life interest only mortgages over 75, Metro Bank interest only lifetime mortgages for over 70s and SunLife mortgages for over 60s are 45%, 60% and 70%.

Common loan to value ratios of TSB equity release schemes for people over 70, HSBC retirement interest only mortgages over 75, Post Office lifetime mortgages for people over 55, L&G lifetime mortgages for over 55s, RBS interest only mortgages for people over 60 and Nationwide BS later life mortgages for over 60s are 45%, 60% and 65%.

Lloyds Bank Retirement Mortgages Interest Rate

Loughborough Building Society Product name: Borrowing Into Retirement Capital repayment or interest-only? Both available. Minimum/Maximum property value: none. Minimum/Maximum loan sum: £25,000/£350,000. Maximum loan size of 4.5x annual income if aged under 70 at time of application; 3.5x if aged 70 or above. Maximum LTV: 60%. Minimum/max-age: you must be aged 80 or above by the end of the mortgage term; no max-age. Minimum income: none, though you’ll need to be able to prove you can afford the payments. Mortgage term: 2-25 years. Overpayments: up to ten per cent per year without early repayment charges (ERCs) on the fixed-term products, although a deal with no ERCs is also on offer. How is the loan repaid? For the interest-only option, you can sell the property to pay off the loan, though other methods will be considered. Capital repayment mortgages will have been repaid by the end of the term. In all cases, you can pay off the loan early through overpayments.

Spanish Property Equity Release

Spanish Property Lifetime Mortgages

Self Cert Mortgage for Spain 2021

Popular pensioner mortgage products are Lloyds Bank mortgages for over 70s, Barclays Bank interest only lifetime mortgages, Natwest pensioner mortgages over 70s, Legal & General lifetime mortgages and Nationwide Building Society mortgages over 65.

Residential mortgages no proof of income Spain