4.83% MER Monmouthshire Building Society Equity Release – Free Valuation 2024

• Release tax-free cash from your home with Monmouthshire Building Society Equity Release
• Free valuation from 1st January 2024
• You don’t need to make regular monthly payments
• Use the cash to pay off loans and credit cards
• Stay living in your own home with Monmouthshire Equity Release

How much can I get?

You can achieve 60% of your property’s value. For example, if your home is worth £360000 you can borrow £216000.

Testimonials and Example Cases

Sandra from Manchester

I got an equity release to give money to my daughter to buy a house. Without the money I borrowed, her buying a home would have been impossible.

William from London –

Monmouthshire Building Society Equity Release

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.

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.

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.

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.

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.

Mrs E from London

I was advised to get equity release from 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.

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.

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.

Challenging to mortgage property titles can include properties with a sinking fund of 7% or more of the property sale price when the property is sold, leasehold properties with a short lease, typically less than 70 years, or a defective lease, properties with structural problems, timber buildings and concrete panel houses.

Pitfalls of Interest Only Lifetime Mortgages

Monthly payment equity release can reduce the inheritance for your family. Interest-only lifetime mortgages may impact the ability to claim entitlements. You may need to pay an advisor’s fee and some products expose you to changes in interest rates.

The mortgage lender will want to know if the property is a Detached freehold house or a Leasehold house and if the resident is an owner-occupier.

Towns of the UK where Lifetime Mortgages are popular

• Waltham Cross
• Hungerford
• Tottenham
• Bradford-on-Avon
• Lytchett Minster & Upton
• Fazeley
• Bedford
• Eastleigh
• Stretford
• Shepton Mallet
• Market Deeping
• Burgess Hill
• Stanhope

Challenging to mortgage property titles can include properties built or converted into dwellings more than 10 years ago, properties with flying or creeping freehold which comprises 15% or less of the total floor area, grades l and ll* Listed Buildings in England & Wales (Grades A and B in Scotland; A, B+ and B1 in Northern Ireland), properties that are being used for personal commercial use and properties adversely affected by existing or proposed issues including roads, rail, airports, power plants, power lines/pylons, wind turbines, substations, sewage works, quarries, fuel stations, refuse sites, sports grounds, noise, light or environmental pollution.

• Bad Credit Mortgage Loan
• Halifax
• Lloyds Bank Equity Release From House
• Age Partnership Comparison

Equity Release Rates: A Comprehensive Guide for Homeowners

Mortgages Over 55: The Beginning of Equity Release Journey

For many homeowners, reaching the age of 55 marks the beginning of considering alternative mortgage options that better suit their evolving financial needs. The market for these products has grown substantially over the past few years, catering specifically to this age group.

Understanding the Rates

When delving into mortgages specifically designed for those over 55, understanding the associated rates becomes paramount. Often, these rates are influenced by broader economic factors, lender-specific policies, and the inherent risks associated with lending to older individuals.

Benefits for the 55+ Age Group

One of the significant advantages of these mortgages is the flexibility they offer, often coming with features that allow for lump sum withdrawals, additional repayments, or even payment holidays.

Monmouthshire Mortgages Over 60: Refining Financial Strategies

Entering the 60s, some homeowners may find that their financial goals and strategies need further refinement, especially if retirement is on the horizon or has already commenced.

Rate Implications at this Age

Interest rates for those over 60 might differ slightly compared to their younger counterparts. Given that the loan duration might be shorter and the equity in the home higher, lenders may offer competitive rates.

Mortgages Over 65: Embracing Full-fledged Retirement

With most individuals over 65 being in full-fledged retirement, the emphasis shifts towards maximizing income, maintaining a comfortable lifestyle, and managing any existing debts efficiently.

The Role of Rates

At this stage, equity release rates play a pivotal role. With potentially reduced income, the affordability of monthly repayments, if any, becomes crucial. Hence, securing a competitive rate can make a significant difference.

Mortgages Over 70 and Over 75: The Golden Years of Finance

These age brackets see a more pronounced shift towards leveraging home equity for various reasons, be it funding grand adventures, assisting younger family members, or covering medical expenses.

Rate Considerations for the Elderly

Given the age factor and potential health implications, lenders might have a different risk assessment for this demographic, which can impact the interest rates on offer.

Monmouthshire Retirement Remortgages: A Fresh Financial Outlook

The Essence of Retirement Remortgages

Retirement remortgages provide an opportunity for homeowners to reassess and realign their mortgages according to their retirement income and expenditure.

How Rates Factor In

Since these products cater specifically to retirees, the associated rates often reflect the market conditions, the retiree’s financial health, and the perceived risk from the lender’s perspective.

Pensioner Remortgage: A Closer Look

This subset of retirement remortgages is tailor-made for pensioners, providing them with specific features and flexibilities that align with their unique financial needs.

Rate Dynamics for Pensioners

Given the fixed nature of pension incomes, lenders often structure the rates to ensure affordability while also balancing their risk profiles.

Monmouthshire Lifetime Mortgage: Tapping into Home Equity

An Overview of Lifetime Mortgages

Lifetime mortgages are a prevalent form of equity release. They allow homeowners to unlock the equity tied up in their homes, providing them with a lump sum, regular income, or a combination of both.

Rate Structures in Lifetime Mortgages

These products come with unique rate structures. Given that there’s typically no monthly repayment and the interest ‘rolls up’, understanding the compounding effect becomes crucial.

Release Equity and Monmouthshire Equity Release: Unleashing Home Value

The Drive Towards Equity Release

For many older homeowners, their property is their most significant asset. Equity release products provide an avenue to tap into this wealth without selling the home.

How Rates Influence Decisions

Different equity release products come with varying rate structures. Understanding these rates and the long-term implications can help homeowners make informed decisions.

Monmouthshire RIO Mortgage: A Unique Proposition

Retirement Interest Only (RIO) Mortgages Explained

Distinct from other equity release products, RIOs require homeowners to pay only the interest, with the capital repaid typically upon sale of the property.

Rate Considerations for RIOs

Given their unique structure, the rates for RIOs can be influenced by different factors compared to traditional equity release products. Ensuring a competitive rate can significantly impact the overall cost of the loan over its duration.

The world of equity release rates and products offers homeowners a myriad of options to navigate their financial needs in the later stages of life. Whether considering mortgages tailored to specific age brackets, remortgages for retirees, or exploring other products like RIOs, the key lies in understanding the intricacies of each option. Armed with knowledge and perhaps expert advice, homeowners can leverage their most significant asset—their home—to ensure financial comfort and security.

Nationwide

• Nationwide Lifetime Mortgage
• Natwest Lifetime Mortgage No Payments
• Natwest Equity Release Plans
• nationwide mortgages for over 60s Retirement Mortgages House

• YBS Lifetime Mortgage Reviews
• BISF Equity Release Brokers UK
• Best Mortgages For Over 50s Retirement Mortgage Broker
• Yorkshire Bank Equity Release
• Natwest Retirement Mortgage Loan
• Chorley and District Building Society Mortgages
• Nationwide Retirement Mortgage Age
• Barclays Retirement Interest Only Mortgage

Difficult to finance home types include Timber-framed properties constructed post-1965, properties with pre-1945 asbestos or similar composition roof tiles, studio flats located within the M25, former local authority flats and flats above or adjacent to commercial premises.

Equity release is common among business owners like below

• Freight transport by road Ulverston
• Manufacture of plastics in primary forms Malton
• Activities of collection agencies Gravesend
• Manufacture of condiments and seasonings Macclesfield
• Film processing Faringdon
• Site preparation Newton Aycliffe
• Other specialised construction activities n e c Maidstone
• The casting of light metals Market Rasen
• Media representation services Lynton & Lynmouth
• General public administration activities Tenbury Wells
• Manufacture of woven or tufted carpets and rugs Ringwood
• Manufacture of industrial gases Bridlington
• Other food services Loughborough
• Other amusement and recreation activities n e c Warrington
• Mixed farming Irthlingborough
• Growing of citrus fruits Hartland
• Manufacture of paper and paperboard Somerton
• Security systems service activities East Ham

Hard-to-mortgage home variants can include properties in poor condition, properties where tenants live in a self-contained part of the property, leasehold properties (England, Wales, Northern Ireland) subject to a lease length of 160 years, leasehold properties (with the exception of flats and maisonettes) and properties owned under any form of shared equity scheme.

How much is it common to release from a home

• 55% interest-only lifetime mortgages VitalityLife Equity Release
• 60% loan to value lump sum lifetime mortgages Lifetime Mortgage from L&G
• 60% loan to value lifetime mortgage with flexible drawdown cash release Aviva
• 35% loan to value (LTV) monthly payment equity release 1st Stop Home Loans

Does Monmouthshire Building Society offer Equity Release?

Yes, Monmouthshire Building Society Equity Release is 1.92% MER.

Popular loan-to-value percentage ratios of Standard Chartered interest-only lifetime mortgages for people over 60, Zurich mortgages over 65, Sainsburys mortgages for pensioners over 60, Principality Building Society retirement mortgages over 60, Nottingham Building Society retirement interest-only mortgages over 75 and National Counties Building Society retirement mortgages over 65 are 45%, 55% and 70%.

Some of the most popular loan to values of LVE mortgages for 60 year olds, More 2 Life pensioner mortgages over 60, One Family lifetime mortgages for people over 55, YBS retirement interest only mortgages over 60, Principality Building Society interest only mortgages for over 65 year olds and Sun Life later life interest only mortgages over 60 are 40%, 55% and 65%.

Popular loan-to-value ratios of Lloyds retirement mortgages over 65, Barclays Bank equity release plans for people over 60, NatWest mortgages for 60 plus pensioners, Legal & General mortgages for over 60s, Bank of Scotland interest only mortgages for people over 70 and Nationwide Building Society interest only mortgages for people over 70 are 50%, 60% and 65%.

Equity Release Scheme Providers

• More to life
• Pure Retirement
• More to life
• Liverpool Victoria
• Zurich

Does Monmouthshire Building Society offer Pensioner Mortgages?

Yes, Monmouthshire Building Society Pensioner Mortgages are 2.3% APRC.

Monmouthshire Building Society Equity Release alternatives

• Bridgewater Equity Release Plans
• Just Retirement Equity Release Schemes
• More to life Flexi Choice Drawdown Lite Plan
• Lloyds Bank Equity Release Schemes
• NatWest Equity Release
• Age Partnership Equity Release Plans
• Bridgewater Equity Release Plans
• Just Retirement Equity Release Plans
• Monmouthshire Equity Release
• More to Life Capital Choice Plan
• Nationwide Equity Release Plans
• Interest Only Lifetime Mortgage
• Age Partnership Equity Release Schemes

Aviva Drawdown Lifetime Mortgages

Hodge Lifetime Lifetime Mortgages

Does Monmouthshire Building Society offer Retirement Mortgages?

Yes, Monmouthshire Building Society Retirement Mortgages are 2.04% MER.

More to life Drawdown Lifetime Mortgages

One Family Lifetime Mortgages

Crown Equity Release

Hodge Lifetime Lifetime Mortgages

Does Monmouthshire Building Society do Equity Release Under 55?

Yes, Monmouthshire Building Society Equity Release Under 55 is 1.83% APR.

How much is it common to release from home with Monmouthshire Building Society Equity Release

The more aged you are and the sicker you are the more cash you can release.

It is often found to find individuals looking for a monthly payment lifetime mortgage, lump sum lifetime mortgages or Monmouthshire Equity Release plans, however, Key Solutions like Zurich are keen to see evidence of your circumstances in the form of investment statements.

Common retirement loan offerings include Lloyds mortgages for people 60 plus, Barclays mortgages for over 70s, Halifax pensioner mortgages over 70s, Legal and General equity release schemes and Nationwide interest only mortgages for over 65 year olds.

Does Monmouthshire Building Society offer Lifetime Mortgages?

Yes, Monmouthshire Building Society does lifetime mortgages at 1.84% MER. Monmouthshire Building Society Lifetime Mortgages have a loan to value of 75%.