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LV Equity Release for UK property – Free Valuation

LV lifetime mortgage

  • Release tax-free cash from your house with LV Equity Release
  • No need to make monthly payments
  • Free valuation
  • Buy a family member a home without a mortgage
  • Are you still paying a mortgage? No problems
  • Continue to stay in your house

How much money can I release?

You can release 70% of your home’s valuation. For example, if your house is valued at £210000 you can get £147000.

  • 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

Concise Finance Customer Reviews

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.

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 broker fees and no lender 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 a deposit for her next house. She wanted a family, and her flat was too small.

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.

david-p-london

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

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.

  • Free No Obligation Quote

  • Please enter a number from 4000 to 20000000.
  • Leave blank if no mortgage outstanding
  • 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.
Old money home
West London Home
Homeowner in their 60s
Over 55 Home owner

The lender LV Equity Release will want to know if the property is a Freehold terraced house or a Leasehold flat and if the resident is an Owner Occupier Primary Residence.

Areas of the UK where LV Equity Release is common

  • Buntingford
  • Holt
  • Bideford
  • Thrapston
  • Rowley Regis
  • Padstow
  • Gosport
  • Longtown
  • Mildenhall
  • Wallingford
  • New Milton
  • Caistor
  • Westerham
  • West Bedlington
  • Billingham
  • Guildford
  • Bicester
  • Oakham
  • Banbury
Natwest Lifetime Mortgage Comparison

Unlocking the Value: A Deep Dive into LV Equity Release Rates

Liverpool Victoria Mortgages Over 55

As the UK’s population continues to age, financial products that cater to those in the later stages of life have grown in popularity and necessity. Mortgages for individuals over 55 have become an essential part of this landscape. With a considerable number of people owning significant property equity by this age, the demand for accessing this wealth has grown.

Benefits and Considerations

Increased Financial Flexibility

At this age, many homeowners have a significant portion of their mortgage paid off, or even own their home outright. Mortgages tailored for over 55s often provide a more flexible approach to borrowing, given the substantial equity built up.

Addressing Retirement Shortfalls

For those facing a pension shortfall or unexpected expenses, such mortgages can provide the necessary financial boost without the need to downsize or move.

Factors Influencing Rates

Several factors can affect the rates offered to those over 55, including the loan-to-value ratio, the individual’s health and lifestyle, and the type of property.

LV Mortgages Over 60

By 60, many individuals are either nearing retirement or have already retired. However, with life expectancy increasing, a mortgage post-60 is not uncommon.

Customised Loan Terms

With fewer earning years left, these mortgages often come with tailored terms. Some may offer interest-only payments, with the capital repaid when the property is sold.

Interest Rates and Market Trends

The interest rates for such products tend to be influenced heavily by market trends, the Bank of England base rate, and the lender’s assessment of risk.

LV Mortgages Over 65 and 70

LV Later Life Lending

Mortgages in these age brackets are often termed as ‘later life lending’ products. They provide ways to access locked equity, perhaps for healthcare needs, home improvements, or gifting to younger generations.

Equity Release and Lifetime Mortgages

Equity release products, especially lifetime mortgages, become prevalent here. They allow homeowners to unlock their property’s value without monthly repayments. Instead, the interest rolls up, and the amount is repaid upon sale of the property or the homeowner’s passing.

LV Mortgages Over 75

For homeowners over 75, the focus shifts more towards equity release products rather than traditional mortgages.

Home Reversion Plans

Another product that gains relevance here is the home reversion plan. Here, a homeowner sells a part or all of their home to a reversion company but retains the right to live there rent-free for life or until they move into long-term care.

Assessing the Cost

The rolled-up interest can compound quickly, so it’s crucial to understand the potential long-term costs and the potential impact on inheritance.

LV Retirement Remortgages & Pensioner Remortgage

Meeting Changing Financial Needs

As retirees evaluate their financial landscape, remortgaging can provide an avenue to better terms or release additional funds. This might be for anything from travel to helping younger family members onto the property ladder.

The Role of Property Value

The amount of equity accessible and the interest rate offered can vary significantly based on the property’s current market value and location.

LV Lifetime Mortgage

Perhaps one of the most well-known equity release products, the lifetime mortgage has seen a surge in popularity. It allows homeowners to borrow against their property’s value while retaining ownership.

Features and Variations

Drawdown Lifetime Mortgages

This version allows homeowners to draw money in stages, providing flexibility and potentially reducing the interest amount over time.

Interest Payment Lifetime Mortgages

Here, homeowners can opt to pay off the interest monthly, ensuring the loan amount doesn’t increase.

Release Equity & Equity Release

The Growing Appeal

As housing prices have skyrocketed, the appeal of equity release has grown. It offers a way for homeowners, especially those with limited retirement funds, to tap into the wealth tied up in their homes.

Equity Release Council Standards

Given the potential complexities and long-term implications of equity release, the Equity Release Council sets forth standards to ensure products are transparent, fair, and safe for consumers.

RIO Mortgage

The Retirement Interest-only (RIO) mortgage is a relatively new product but has quickly established its niche.

Features of RIO

Unlike traditional mortgages, with a RIO, the loan amount remains constant. Homeowners only pay off the interest, with the loan amount repaid upon the sale of the property or when the homeowner moves into care or passes away.

Assessing Suitability

Before opting for a RIO, it’s essential to assess its suitability based on individual financial circumstances, long-term plans, and available alternatives.

In essence, the landscape of equity release products and mortgages for older homeowners is vast and varied. As the UK’s ageing population seeks financial solutions tailored to their unique needs, this market segment is continuously evolving, offering a myriad of options to those looking to access the wealth tied up in their homes.

Benefits of Equity Release and Late-Life Mortgages

While the primary motivation for many is to release cash from their property, there are several benefits associated with these financial products:

Financial Security in Retirement

For many, pensions and savings may not be sufficient to maintain their desired standard of living throughout retirement. Tapping into property equity can provide an additional income stream or a lump sum to support a comfortable lifestyle.

Supporting Family

Whether it’s helping grandchildren with university fees, contributing to a first home deposit for a loved one, or assisting with life’s many expenses, equity release can facilitate generational wealth transfer when it’s most needed.

Home Improvements

Maintaining and upgrading a home can be costly. Accessing property equity can finance renovations or adaptations that allow homeowners to age in place, making their living spaces more comfortable and functional.

Navigating the Complexities: Advisers and Calculators

Given the long-term implications and complexities of these products, seeking expert advice is paramount.

Legal and General Equity Release Adviser

Reputable institutions, such as Legal and General, provide specialised advice through their equity release advisers. These professionals can offer tailored recommendations based on an individual’s financial situation and goals, ensuring homeowners make informed decisions.

Equity Release Calculators

Tools like the Legal and General equity release calculator or similar platforms from other providers offer homeowners an initial glance at how much they might release from their property. While these calculators provide a ballpark figure, personalised advice tailors solutions to individual needs.

Understanding the Terms: Rates, Reviews, and Valuations

Before delving into any financial product, understanding its terms, especially interest rates, is crucial.

Impact of Interest Rates

For products like lifetime mortgages, the interest can compound over time, increasing the final repayment amount. It’s essential to understand these rates and their long-term implications.

Legal and General Lifetime Mortgage Rates

Rates can vary based on numerous factors, including age, health, and property value. Reputable providers like Legal and General offer competitive rates, but homeowners should compare across the market to ensure they get the best deal.

Reviews and Feedback

Before committing, researching reviews, like the Legal and General equity release reviews, can provide insights into other customers’ experiences and the service quality of the provider.

Valuation of the Property

The amount that can be released largely depends on the property’s value. Institutions typically conduct a legal and general valuation to assess the home’s worth, which then influences the maximum release amount.

The Future of Equity Release and Late-Life Mortgages

The market for equity release and late-life mortgages is expected to grow as the population ages and property values continue to rise. This growth will likely lead to more product innovations, offering homeowners even greater flexibility and options.

However, with such a significant decision, it’s always crucial to be well-informed. Whether considering a lifetime mortgage, RIO mortgage, or any other product, always seek expert advice, understand the terms, and consider the long-term implications. In doing so, homeowners can ensure they make the best choice for their unique financial situation and future aspirations.

Equity Release UK Providers similar to LV Equity Release

  • the Telegraph
  • Step Change
  • Key Retirement

Tough-to-finance property variants include properties that will be assessed for flood risk, properties without a kitchen or bathroom, properties where there are boundary disputes or where planning applications have not been applied for correctly, cob property and Reema Hollow panel, Schindler and Hawksley SGS, Stent, Stonecrete, Stour, Tarran, Underdown, Unity and Butterley, Waller, Wates, Wessex, Winget and Woolaway.

Natwest Lifetime Mortgage Advisers

Tough-to-mortgage property variants can include flats of less than 30 square metres in any location, properties with a large number/scale of outbuildings, properties with a small number of solar panels or a wind turbine on the land for domestic use, properties where there is a self-contained part of the property or annexe, i.e. basement flat etc and properties adversely affected by existing or proposed issues including roads, rail, airports, power plants, power lines/pylons, wind turbines, sub stations, sewage works, quarries, fuel stations, refuse sites, sports grounds, noise, light or environmental pollution.

LV Mortgages over 70

Difficult-to-finance home types can include properties with post-1945 asbestos or similar composition roof tiles, timber framed properties built between 1920 and 1965, properties constructed or converted within the past 10 years, privately developed flats in blocks of five storeys or more and freehold flats (England, Wales, Northern Ireland).

More to life - Capital Choice Plan

Difficult-to-finance property types can include properties in poor condition, properties where letting arrangement where the tenancy agreement is not appropriate, right to buy – properties in England, Wales and Northern Ireland, commonhold properties and properties with leased solar panels.

Does LV offer Equity Release?

Yes, LV Equity Release is 1.91% MER.

Canada LIfe - Interest Select Gold Flexi

Common LTV ratios of Aviva later life mortgages for over 60s, Direct Line lifetime mortgages for people over 55, Churchill over 60 mortgages, Principality Building Society pensioner mortgages over 70, Newcastle Building Society mortgages for 60 year olds and Cumberland Building Society mortgages for people over 50 are 50%, 55% and 70%.

Just lifetime mortgage

Popular loan to value percentage ratios of Liverpool Victoria interest only lifetime mortgages for over 70s, More to life mortgages for people over 50, One Family interest only lifetime mortgages for over 70s, Yorkshire Building Society over 60 lifetime mortgages, Metro Bank later life mortgages for over 70s and Sun Life interest only mortgages for over 60s near London are 40%, 55% and 65%.

More to life - Flexi Choice Lite

Downsides of Home Reversion Schemes

A monthly payment lifetime mortgage can reduce the inheritance for your family. Lumpsum lifetime mortgages may impact entitlements to benefits. You may need to pay a broker’s fee and some products expose you to changes in interest rates.

It’s common to discover individuals seeking out a lifetime mortgage with flexible drawdown cash release, monthly payment life time mortgage or home reversion schemes, however, Legal and General like AIG Life are keen to see proof of your personal situation in the form of pension statements.

Does LV offer Pensioner Mortgages?

Yes, LV Pensioner Mortgages are 1.84% MER.

  • Bridgewater Equity Release
  • Canada Life Equity Release
  • LV Equity Release plans
  • Liverpool Victoria LV= Flexible Lifetime Mortgage
  • More to life Flexi Choice Voluntary Payment Super Lite
  • Pure Retirement Lifetime Mortgage
  • NatWest Equity Release Plans
  • Aviva Lifetime Mortgages
  • Liverpool Victoria LV Equity Release Schemes
  • Pure Retirement Drawdown Plan
  • TSB Lifetime Interest Only Mortgage
  • NatWest Equity Release Plans
  • More to Life Capital Choice Plus Plan
  • Bridgewater Equity Release Schemes
  • Just Retirement Equity Release Plans
  • Nationwide Equity Release Schemes
  • LV Equity Release schemes
  • More to Life Tailored Choice Plan
  • NatWest Equity Release
  • Age Partnership Equity Release Plans
  • Bridgewater Equity Release Plans
  • L&G Legal & General Flexible Max Scheme
  • More to life Flexi Choice Voluntary Payment Super Lite
  • Equity Release Schemes

Canada Life Retirement Mortgages

Does LV offer Retirement Mortgages?

Yes, LV Retirement Mortgages are 2.01% APR.

More to life Drawdown Lifetime Mortgages

Equity Release Loan To Value similar to LV Equity Release

  • 50% interest-only lifetime mortgages The Exeter Equity Release
  • 45% LTV monthly payment lifetime mortgage LV lifetime mortgage
  • 30% loan to value (LTV) home reversion plans Evolution Money
  • 40% loan to value home reversion schemes 1st Stop Home Loans
  • 60% LTV monthly payment lifetime mortgage Just Retirement
  • 30% loan to value interest-only lifetime mortgages Central Trust
  • 50% loan to value interest-only lifetime mortgages Norton Finance
  • 25% LTV monthly payment equity release Tesco Bank

Does LV do Equity Release Under 55?

Yes, LV Equity Release Under 55 is 2.25% APRC.

Some of the most common loan to value percentage ratios of Lloyds later life interest only mortgages over 75, Barclays Bank mortgages over 70s, Post Office later life mortgages for over 60s, L&G later life interest only mortgages over 70, RBS interest only mortgages for over 60s near London and Nationwide Building Society later life mortgages for over 60s are 50%, 60% and 70%.

How much is it common to release from a home with LV Equity Release

The older you are and the more serious your illnesses you are the more cash you can release.

Successful business owners who could benefit from Home Reversion Scheme tax planning

  • Manufacture of plastics and rubber machinery Penkridge
  • Manufacture of woven or tufted carpets and rugs Southam
  • Manufacture of hollow glass Maidenhead
  • Manufacture of bicycles and invalid carriages Bishops Stortford

Some of the most popular pensioner loan products include Lloyds Bank mortgages for pensioners, Barclays retirement mortgages, Halifax interest-only mortgages for people over 70, L&G pensioner mortgages and Nationwide lifetime mortgages.

Does LV offer Lifetime Mortgages?

Yes, LV does lifetime mortgages at 2.13% APRC. LV Lifetime Mortgages can have a loan to value (ltv) of 75%.

Does LV offer retirement remortgages for the over 60s?

Yes, an LV retirement remortgage for pensioners over 60 is 3.21% MER variable.

Does LV do pensioner remortgages for the over 60s?

Yes, an LV pensioner remortgage for homeowners over 60 is 3.54% APRC variable.

Does LV do a later life remortgage for homeowners over 60?

Yes, LV later life remortgages for the over 60s are 3.92% AER fixed for life.

Does LV do the best remortgages for retired for the over 60s?

Yes, an LV best remortgage for retired homeowners over 60 is 3.08% AER fixed.

Does LV offer a remortgaging option for homeowners over 60?

Yes, LV remortgaging options for the over 60s are 3.59% APRC fixed for life.

Do LV offer mortgage calculators for over 60s?

Yes, an LV mortgage calculator for homeowners over 60 will show 3.75% MER variable.

Does LV do RIO mortgages for over 60s?

Yes, an LV RIO mortgage over 60 is 3.58% APRC variable.

Does LV do a retirement interest only mortgage for retired homeowners over 60?

Yes, LV retirement interest only mortgages for the over 60s are 3.13% MER fixed.