- Release equity from your property with the Melton Mowbray Building Society Equity Release
- No monthly repayments
- Use the cash to pay off loans and credit cards
- Continue to stay in your home
How much money can I borrow?
You can get 65% of your home’s valuation. As an example, if your house is valued at £300000 you can get £195000.
Testimonials and Example Cases
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.
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 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.
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.
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.
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.
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.
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.
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.
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.
Small business owners detail likely with equity to release
- Accounting and auditing activities Ryde
- Wholesale of coffee, tea, cocoa and spices Kings Lynn
- Activities of sports clubs Mexborough
- Freshwater fishing Penzance
- Physical well-being activities Bodmin
- Activities of investment trusts Bulwell
- Activities of racehorse owners Ponteland
- Solicitors Northampton
- Wholesale of other office machinery and equipment Stotfold
- Raising of horses and other equines Brentwood
- Quantity surveying activities Henley-in-Arden
- Post-secondary non-tertiary education Oswestry
- Other retail sales not in stores, stalls or markets Bishops Castle
- Building societies Nailsea
- Renting and leasing of agricultural machinery and equipment Hexham
- Manufacture of pharmaceutical preparations Somerton
- Taxi operation Heathfield
- Growing of grapes Ipswich
the Melton Mowbray Building Society Equity Release
- More 2 Life Capital Choice Plus Plan
- Canada Life Voluntary Select Gold
- Pure Retirement Equity Release
- Stonehaven Equity Release Scheme
- NatWest Lifetime Mortgage
- Saga home reversion schemes
- Hodge Lifetime Flexible Voluntary Repayment Plan
- L&G Legal & General Flexi Max Voluntary Repayment Plan
- Aviva Flexible Voluntary Repayment Plan
- More to life Flexi Choice Drawdown Lite Plan
- Nationwide Equity Release
- TSB Lifetime Interest Only Mortgage
- Bridgewater Equity Release
- Pure Retirement Drawdown Plan
- Nationwide Equity Release Schemes
- HSBC Interest Only Lifetime Mortgage
Does The Melton Building Society offer Equity Release?
Yes, The Melton Building Society Equity Release is 2.2% APRC.
- Nationwide Lifetime Mortgage No Payments
- HSBC Retirement Mortgage House
- Santander Equity Release From Property
- Bad Credit Mortgage Age
- Lloyds Bank Retirement Mortgages Providers
- Lloyds Retirement Mortgage Loan
- Lloyds Lifetime Mortgage No Payments
- Lloyds Bank Lifetime Mortgage Buy To Let
- Nationwide Equity Release Brokers UK
- Timber Frame Mortgage Comparison
- Santander Retirement Mortgage Loan
- HSBC Equity Release Interest Rates
- Lloyds Equity Release From House
- Halifax Equity Release Best Deals
- Lloyds Bank Equity Release Plan
- Natwest Equity Release Plans
- Natwest Retirement Mortgage Advice
- Nationwide Retirement Mortgage Interest Rate
- Santander Lifetime Mortgage Calculator
- HSBC Lifetime Mortgage Calculator
Challenging to mortgage home titles can include properties built or converted into dwellings more than 10 years ago, properties with a single annexe or other 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 that have solar farms or a large number of wind turbines on the land and properties in coastal areas that may be affected by erosion.
Does The Melton Building Society offer Pensioner Mortgages?
Yes, The Melton Building Society Pensioner Mortgages are 2.11% MER.
Challenging to finance home titles include properties will be assessed for flood risk, 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 of non-standard construction, cob property and Reema Hollow panel, Schindler and Hawksley SGS, Stent, Stonecrete, Stour, Tarran, Underdown, Unity and Butterley, Waller, Wates, Wessex, Winget and Woolaway.
It’s very regular to find people looking for lump sum lifetime mortgages, lumpsum lifetime mortgages or monthly payment equity release. However, Lifetime Mortgage from L&G like Aegon are keen to see proof of your circumstances in the form of pension statements.
Do The Melton Building Society do Retirement Mortgages?
Yes, The Melton Building Society Retirement Mortgages are 1.84% APR.
What percentage can be released – Melton Mowbray Building Society Equity Release?
- 50% lump sum lifetime mortgages AIG Life
- 55% loan to value lifetime mortgage with flexible drawdown cash release 1st Stop Home Loans
- 30% loan to value home reversion schemes Manchester Building Society
- 35% loan to value interest-only lifetime mortgages Optimum Credit
Popular LTV percentages of Lloyds interest only mortgages for over 60s, Barclays interest only mortgages for over 60s, Halifax mortgages for 60 plus, Legal & General mortgages for people 60 plus, Bank of Scotland interest only mortgages for over 60s near London and Nationwide lifetime mortgages for people over 55 are 50%, 60% and 70%.
Popular LTV percentages of LV= mortgages for people over 50, More to life equity release plans for people over 60, One Family later life interest only mortgages over 60, YBS mortgages for over 65, Metro Bank interest only mortgages for over 60s and Axa equity release schemes for people over 70 are 45%, 60% and 70%.
Popular LTV percentagesof Virgin Money over 60 lifetime mortgages no fees, Shepherds Friendly later life interest only mortgages over 60, Leeds Building Society later life interest only mortgages over 70, Coventry Building Society mortgages for people 60 plus, Nottingham Building Society interest only mortgages for over 70s and Progressive Building Society mortgages for over 70s are 50%, 55% and 70%.
Hard to finance home types can include properties where proposed building works have not yet commenced, properties where the ownership is set up on a tenancy in common basis, right to buy – properties in Scotland, properties which are made up of multiple titles and properties with single skin brickwork.
Hard to finance property types include eco-houses and modern methods of construction, properties with any externally applied insulation to the walls after construction, properties with minimum floor area of 30 square metres, coach houses i.e. freehold properties with garages beneath and privately developed flats in blocks of three or four storeys without a lift.
Areas of the UK where equity release is routine
- Tenbury Wells
- West Ham
Equity Release percentages of your current property value
The more elderly you are, and the sicker you are, the more money you can release.
Downsides of Equity Release Schemes
Home reversion plans can reduce your estate value. Lumpsum lifetime mortgages 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.
Equity Release UK Lenders
- Key Retirement
- Liverpool Victoria
- Key Solutions
- LV lifetime mortgage
The lender will want to know if the property is a Semi detached freehold house or a Leasehold flat and if the resident is a Private Tenant.
Melton Building Society Product name: Retirement Interest-Only Capital repayment or interest-only? Interest-only. Minimum property value: £90,000. Maximum loan sum: £750,000. Maximum LTV: 50%. Minimum/Maximum age at application: 65 Minimum, no max. Minimum income: none, though you’ll need to be able to prove you can afford the interest payments. Pension and earned income considered. Overpayments: in the first five years you can overpay by up to ten percent per year fee-free; from year six onwards there are no fees on overpayments. How is the loan repaid? When you die or move into care and the property is sold.
Does The Melton Building Society offer Equity Release Under 55?
Yes, The Melton Building Society Equity Release Under 55 is 1.9% APR.
Many of the most appealing retirement finance offerings include Lloyds Bank later life mortgages, HSBC mortgages for over 50 year olds, NatWest over 60 mortgages, Legal and General later life borrowing schemes and Nationwide Building Society equity release schemes.
Do The Melton Building Society do Lifetime Mortgages?
Yes, The Melton Building Society does lifetime mortgages at 2.06% APR. The Melton Building Society Lifetime Mortgages have a LTV of 70%.