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Need to pay off mortgage? Get 2.85% equity release or a lifetime mortgage in 2022

pay-off-mortgage

  • Remove tax-free equity from your property
  • No regular monthly payments
  • Use the money for a motorhome or new car
  • 2.85% interest rate
  • Continue to stay in your home for as long as you like

How much cash can I borrow?

You can release 70% of your property’s valuation. As an example, if your house is worth £230000 you can release £161000.

  • 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

Homeowner in their 60s
Southfields House
Wandsworth Family Home
Putney Home

  • 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.

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 Private Tenant.

Aviva

More to life Equity Release

 

Tough to mortgage home titles include properties built on contaminated land, leasehold properties with a short lease, typically less than 70 years, or a defective lease, properties with structural problems, corrugated iron construction and missing planning permission or building regulations approval.

Towns of the UK where equity release is common

  • Bedworth
  • Rothwell
  • Battle
  • Bromborough
  • Chagford
  • Halstead
  • Amble
  • Broseley
  • Ilfracombe
  • Market Weighton
  • Goole
  • Uttoxeter
  • Dorking
  • Penistone
  • Mirfield
  • West Bromwich
  • Northfleet

Equity Release Belfast Interest Rate

 

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 cash you can release.

Challenging to mortgage property variants include flats of less than 30 square metres in any location, 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 are being used for personal commercial use and properties that have a private water supply provided a contract is in place with an approved maintenance company for regular testing and maintenance.

Equity Release Belfast Advice

Difficult to finance property types can include Timber-framed properties constructed post-1965, properties with pre 1945 asbestos or similar composition roof tiles, properties constructed or converted within the past 10 years, privately developed flats in blocks of five storeys or more and basement or lower ground floor flats without level access to private or communal garden space.

  • Bridgewater Equity Release
  • Hodge Lifetime Flexible Voluntary Repayment Plan
  • Stonehaven Lifetime Mortgage
  • Nationwide Equity Release Plans
  • Lloyds Bank Equity Release Schemes
  • NatWest Lifetime Mortgage
  • Aviva Lifestyle Flexible Option
  • Hodge Equity Release Schemes
  • Liverpool Victoria LV Equity Release Plans
  • Stonehaven Interest Only Lifetime Mortgage
  • Nationwide Equity Release Schemes
  • HSBC Equity Release Plans
  • NatWest Equity Release Schemes
  • More 2 Life Capital Choice Plan
  • More to Life Tailored Choice Plan
  • Canada Life Lifestyle Gold Flexi
  • HSBC Equity Release Plans
  • TSB Lifetime Interest Only Mortgage
  • Royal Bank of Scotland Equity Release Schemes
  • Saga Lifetime Mortgage

 

Equity Release Providers

  • More to life
  • Pure Retirement
  • Key Retirement
  • Pure Retirement

Canada Life - Lifestyle Gold

Difficult to finance home types can include properties where proposed building works have not yet commenced, entirely tenanted properties, freehold houses and bungalows (England, Wales, Northern Ireland), leasehold properties (with the exception of flats and maisonettes) and properties with single skin brickwork.

LV= Lump Sum+ Lifetime Mortgage

Some of the most popular LTV percentages of Aviva pensioner mortgages over 70s, Shepherds Friendly mortgages for 60 year olds, Leeds Building Society later life mortgages for over 60s, Principality Building Society interest only retirement mortgages for over 70s, Nottingham Building Society mortgages for pensioners over 60 and Progressive Building Society mortgages over 65 are 45%, 55% and 65%.

Legal & General - Flexible Pink

Some of the most popular loan to value percentage ratios of LV= retirement mortgages over 60, More to life interest only lifetime mortgages for over 60s, One Family retirement mortgages over 60, Yorkshire Bank lifetime mortgages for over 60s, Royal London lifetime mortgages for people over 55 and Axa over 60 lifetime mortgages are 45%, 55% and 65%.

Just lifetime mortgage

It’s often found to encounter individuals looking for monthly payment equity release, monthly payment lifetime mortgage or home reversion plans, however, Sunlife Plans like AIG Life are keen to see proof of your circumstances in the form of pension statements.

Disadvantages of Home Reversion Plans

Interest-only lifetime mortgages can reduce the value of your estate. Lumpsum lifetime mortgages may impact ability to claim entitlements. You may need to pay a broker’s fee and you could be exposed to changes in interest rates with some products.

Some of the most popular loan to value ratios of Lloyds mortgages for 60 plus, HSBC mortgages for pensioners over 60, NatWest interest only lifetime mortgages for people over 60, Legal and General interest only mortgages for over 65 year olds, RBS RIO mortgages over 75 and Nationwide Building Society retirement interest only mortgages over 75 are 40%, 60% and 70%.

Examples of retired small business owners likely to have equity to release

  • Sale of other motor vehicles Bedworth
  • Manufacture of veneer sheets and wood-based panels Southgate
  • Shaping and processing of flat glass Croydon

 

How much is it common to release from a home

  • 60% monthly payment life time mortgage Aegon
  • 35% loan to value (LTV) lifetime mortgage with flexible drawdown cash release West One
  • 50% loan to value monthly payment equity release Precise
  • 30% loan to value lifetime mortgage with flexible drawdown cash release Skipton Building Society

 

Some of the most common retirement mortgage products include TSB over 60 lifetime mortgages, Barclays Bank lifetime mortgages, NatWest mortgages for over 65, Legal & General interest only mortgages for over 65 year olds and Nationwide BS RIO mortgages.