- Remove tax-free money from your property – flexible maximum age
- 1.95% APR for mortgages for over 70s
- Valuation fee of £299
- No lender fee for later life age of 70 mortgages
- No broker fee for a mortgage over 70
- Getting a mortgage to move house and buy another property – no problems
- You don’t need to make monthly payments with some plans
- Help a family member buy their own home with a modest mortgage
- Continue to live in your own home for as long as you like
Recently completed mortgage, equity release and lifetime mortgage cases
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. I’ve got a great deal for mortgages for over 70s.
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 to be born and a years rent in advance for a new flat for the baby.
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.
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.
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.
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.
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.
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 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 mortgage over 70 saved me from losing my home and the rate was close to what I paid before.
Providers for mortgages for over 70s – moderate loan amount
- Legal and General with a savings account
- Norwich Union with pension income
- Key Retirement lending criteria with no repayment charge
- Mortgage over 70
The 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. For RIO (pensioner interest only) you will need proof of income for repayments on your mortgage and your home may be repossessed if you don’t make the payments like any other interest-only payments mortgage.
Nationwide mortgages for over 70s
Take out a new mortgage at the age of 70 and you can repay the mortgage when you die.
Downsides of Family building society Schemes – mortgage options with a flexible age limit – mortgage for over 70s
Nationwide mortgages for over 70s with flexible drawdown cash release can reduce the inheritance for your family. Home reversion plans may impact entitlements to benefits. You may need to pay a broker’s fee and you could be exposed to changes in the interest rate with some products.
- Halifax RIO Advice
- Santander Lifetime Mortgage Comparison
- Lloyds Lifetime Mortgage Fixed Rate
- HSBC Equity Release From Property
- Halifax Pensioner Mortgage Comparison
- Lloyds Bank Equity Release Retirement
- Santander Equity Release Loan
- Santander Retirement Mortgage Reviews
- HSBC Retirement Mortgage Interest Only
- Lloyds Bank Lifetime Mortgage On Second Property
- Lloyds Retirement Mortgage Comparison
- Halifax Lifetime Mortgage Comparison
- HSBC Lifetime Mortgage Broker
- Lloyds Bank
- Lloyds Equity Release
- Natwest Equity Release Plans
Towns of the UK where mortgages for pensioners over 70 are common – low-risk building societies mortgage over 70
- Newton Abbot
- Princes Risborough
- Paddock Wood
Examples of business owners with home equity to release – older people mortgage product – mortgages for over 70s
- Cargo handling for air transport activities Buckfastleigh
- Activities of construction holding companies Mexborough
- Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes Faringdon
- Video production activities Berkhamsted
- Manufacture of telegraph and telephone apparatus and equipment Oldbury
- Manufacture of other games and toys, n e c Market Weighton
- Repair and maintenance of ships and boats Loughton with no age cap
- Investigation activities with firm reference number Castle Cary
- Property value consultants Wandsworth
- Nationwide mortgage maximum age Glasgow
- Repair of communication equipment Doncaster
- Central banking Shipston-on-Stour
- Wholesale of tobacco products Cheshunt with firm reference number
- Manufacture of refractory products Barnes with no upper age limit
- Operation of gravel and sand pits; mining of clays and kaolin Snodland
- Security and commodity contracts dealing activities Askern
- Mining of uranium and thorium ores Hessle
- Manufacture of electronic measuring, testing etc equipment, not for industrial process control Lostwithiel
- Manufacture of ceramic sanitary fixtures South Cave
- Freight air transport Barnard Castle
What percentage can be released? Need the help of a mortgage adviser for a home loan mortgage comparison and study of mortgage terms?
- 55% monthly payment lifetime mortgage Old Mutual Wealth – property market fund
- 35% LTV compare mortgages plan Shawbrook – flexible age restrictions
- 25% loan to value interest-only lifetime mortgages Masthaven 1st Charge
- 30% LTV monthly repayment scheme Equifinance for the existing mortgage balance
- 45% LTV 25 years lump sum lifetime mortgage over 70
- 55% LTV mortgages for pensioners over 70
- Aviva pre long term care plans
- L&G Legal & General Flexible Max Scheme for loved ones
- A mortgage for over 70s at under 2% MER
- L&G Legal & General Flexible mortgage calculator
- More to Life Flexi Choice Voluntary Payment Super Lite
- The pure Retirement 25-year plan
- More 2 Life Capital Choice Plus Plan
- Age Partnership buy to let Schemes
- Aviva mortgage products mortgages for pensioners over 70
- More2Life Capital Choice Plus Plan mortgage broker
- Bridgewater mortgages for pensioners over 70
- Canada Life products registered in England
- Hodge Lifetime Flexible Voluntary Repayment Plan
- L&G Legal & General Flexible investment income
- Pure Retirement Classic Drawdown Lite Plan
- TSB Lifetime Interest Only Mortgage – guarantor mortgage for others
- UK retiree Mortgage for over 70s
- NatWest Interest Only eligibility requirements
- L&G Legal & General Flexi Max Voluntary Repayment Plan
- A pure Retirement mortgage provider
- Stonehaven mortgage deals with mortgage age limit
- TSB retirement income RIO
Mortgage over 70
It’s very regular to find people seeking out lump sum lifetime mortgages, lumpsum lifetime mortgages or home reversion schemes, however, Age Partnership like Royal London Equity Release are keen to see evidence of your situation in the form of bank statements.
What percentage can be released – a mortgage for over 70s?
The more aged you are and the unhealthier you are the more tax-free cash you can release. Future house prices and expectation may factor in your search mortgages journey.
Many lenders consider pension income very high quality, not like a job where you can get fired, so mortgages for over 70s can be some of the best mortgage deal options available. Some mortgage lender companies have more than one trading name. Also, be careful to make payments on time, your credit history could be important.
When assessing your affordability the lender may take into consideration your car insurance and home insurance.
Locations head offices
Nationwide Head Office address – Swindon
Nationwide Building Society
GPS/Geographical Post Code Only: SN3 1TA
Nationwide Administration Centre address – Northampton
Nationwide Building Society
Kings Park Road
Portman House Bournemouth Administration Centre
Some financial institutions are located in copper row se1 2lh.