Release cash from your home- No regular monthly repayments
- Use the money for a holiday
- Free Valuation
- Are you still paying a mortgage? No problems
- Continue to stay in your house for as long as you like
How much can I get?
You can borrow 65% of your property’s value. As an example, if your home is worth £210000 you can borrow £136500.
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.
I got 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
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.
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.
How much is it common to release from a home
The more aged you are and the more illnesses you have you are the more tax-free cash you can release.
The 1st and 2nd charge lender will want to know if the property is a Detached freehold house or a Leasehold flat with share of freehold and if the resident is an Owner Occupier.
- Canada Life Lifestyle Gold Flexi
- Just retirement defined benefit
- Stonehaven Interest Select Plan
- TSB Equity Release Schemes
- NatWest Lifetime Mortgage
- Canada Life Voluntary Select Gold Flexi
- Lloyds Bank Equity Release Schemes
- Royal Bank of Scotland Lifetime Mortgage
- Age Partnership Interest Only Lifetime Mortgage
- Bridgewater Equity Release Plans
- Just Retirement Drawdown Lifetime Mortgage
- Pure Retirement Classic Voluntary Payment Super Lite
- NatWest Lifetime Mortgage
- Age Partnership Lifetime Mortgage
- Pure Retirement Classic Voluntary Payment Super Lite
- Lloyds Bank Equity Release Schemes
How much is it common to release from a home
- 60% monthly payment lifetime mortgage AA equity release
- 50% loan to value (LTV) interest-only lifetime mortgages Key Retirement
- 45% LTV home reversion plans Blemain
Tough to finance property variants can include properties with land in addition to the domestic grounds up to a maximum property size of five acres, where the land is for normal domestic use, properties with flying or creeping freehold which comprises 15% or less of the total floor area, use of the land and any outbuildings for a small amount of personal commercial use., properties with flying or creeping freeholds which comprise over 15% of the total floor area and properties with mobile phone masts which are within influencing distance of the house.
Tough to finance property titles can include properties will be assessed for flood risk, properties with any kind of structural defect, damp, dry or wet rot, derelict property or where part of the building is in severe disrepair and needs demolishing, thatched buildings and missing planning permission or building regulations approval.
It is common to encounter people seeking out monthly payment equity release, monthly payment lifetime mortgage or interest-only lifetime mortgages, however, More to life like The Exeter Equity Release are keen to see paperwork to show your situation in the form of pension statements.
Business owners who could benefit from equity release tax planning
- Operation of warehousing and storage facilities for air transport activities Twickenham
- Casting of iron Rotherham
- Museums activities Padiham
- Other publishing activities Kenilworth
- Sale, maintenance and repair of motorcycles and related parts and accessories Devizes
- Foreign affairs Strood
- First-degree level higher education Tonbridge
- Manufacture of other general-purpose machinery n e c Howden
- Wholesale of grain, unmanufactured tobacco, seeds and animal feeds Hessle
- Wholesale of other intermediate products Chulmleigh
- Activities of other holding companies n e c Westerham
- Combined facilities support activities Loughborough
- Agents specialized in the sale of other particular products Kingsbridge
- Other retail sale of food in specialised stores Oldham
- Wholesale of live animals Bilston
- Manufacture of fibre optic cables Queenborough-in-Sheppey
- Growing of citrus fruits New Romney
- Wholesale of musical instruments Widnes
Downsides of Equity Release Schemes
A monthly payment lifetime mortgage can reduce the inheritance for your family. Lump-sum 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.
Towns where retirement mortgages are common
- Yarmouth
- Burnham-on-Sea
- Bridgnorth
- Lowestoft
- Dalton Town with Newton
- Kenilworth
- Farnham
- Wolsingham
- Ripley
- Attleborough
- Eccles
- Thaxted
- Biggleswade
- Portishead and North Weston
- Helston
- Hartlepool
- Highbridge
- Barnard Castle
UK Lenders for Equity Release
- Sunlife Plans
- New Life
- the Telegraph
Hard to finance property types include eco houses and modern methods of construction, properties with any external treatment applied to the roof after construction, properties constructed or converted within the past 10 years, privately developed flats in blocks of two storeys without a lift and basement or lower ground floor flats without level access to private or communal garden space.
More to life Drawdown Lifetime Mortgages
Difficult to finance home types include properties currently undergoing substantial alterations, extensions or repairs, properties where letting arrangement where the tenancy agreement is not appropriate, leasehold properties where the lease length is currently unacceptable, leasehold properties (with the exception of flats and maisonettes) and freehold flats (England, Wales, Northern Ireland).
Common loan to value ratios of Standard Chartered later life mortgages for over 60s, Zurich interest only mortgages for over 70s, Sainsburys mortgages for pensioners over 60, Coventry Building Society mortgages for over 70s, Newcastle Building Society mortgages for people over 50 and Progressive Building Society mortgages for people over 50 are 50%, 60% and 70%.
Popular loan to value ratios of LV= interest only mortgages for people over 70, More to Life mortgages for pensioners over 60, OneFamily later life mortgages for over 70s, YBS later life interest only mortgages over 75, Royal London later life interest only mortgages over 60 and SunLife equity release plans for people over 60 are 45%, 55% and 65%.
Common LTV percentages of TSB help to buy for over 60s, Barclays interest only mortgages for over 65 year olds, NatWest interest only mortgages for people over 60, Legal and General later life mortgages for over 60s, Bank of Scotland pensioner mortgages over 55 and Nationwide interest only mortgages for people over 70 are 40%, 60% and 70%.
Hodge Lifetime Lifetime Mortgages
- Santander Retirement Mortgage Interest Only
- nationwide mortgages for over 60s Retirement Mortgages Rates 2022
- Bad Credit Mortgage Calculator
- HSBC Equity Release Scheme
- Santander Retirement Mortgage Home
- Nationwide Retirement Mortgage Loan
- Santander Equity Release From Property
- Lloyds Bank
- YBS Lifetime Mortgage Comparison
- Halifax Equity Release Interest Rates
- Yorkshire Bank Equity Release Interest Rates
- Natwest Lifetime Mortgage Comparison
- Natwest Equity Release Brokers UK
- HSBC Retirement Mortgage
- Santander Lifetime Mortgage Drawdown Scheme
- Tipton & Coseley Mortgage No Payments
- Natwest Retirement Mortgage Home
- Chorley and District Building Society house construction equity release
- HSBC Lifetime Mortgage Interest Only Rates
- Nationwide Lifetime Mortgage On Second Property
Many of the most appealing retirement finance offerings are TSB lifetime mortgages, HSBC remortgages for people over 50 years old, Halifax mortgages for pensioners, Legal & General interest only mortgages for over 60s and Nationwide Building Society over 60 mortgages.
