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Equity Release Penrith Building Society – Lifetime Mortgage options

penrith
  • Remove tax-free money from your property
  • No monthly repayments with Penrith Building Society Equity Release
  • 1.91% APR variable rate
  • 2.89% Fixed rate for the term of the finance
  • Use the equity released for anything you like
  • Continue to stay in your property
  • Could be used to optimise tax planning

How much can I borrow?

You can borrow 65% of your home’s valuation. For example, if your house is worth £310000 you can get £201500.

  • 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

Southfields House
Over 55 Home owner
Under 65 Home owner
Cash tied up in home
Cash tied up in home






https://www.penrithbs.co.uk/

Pitfalls of Lifetime Mortgages

Home reversion plans can reduce your estate value. A monthly payment lifetime mortgage may impact entitlements to state benefits. You may need to pay a valuation fee and you could have higher rates to pay with some schemes.

Short Lease Mortgage Providers

More to life Retirement Mortgages

Retired business owners that may be interested in Home Reversion Schemes

  • Manufacture of other articles of paper and paperboard n e c Hebden Royd
  • Manufacture of optical precision instruments Shifnal
  • Gambling and betting activities Torpoint
  • Activities of Political Organizations Croydon
  • Repair of electronic and optical equipment Gorleston-on-Sea
  • Public houses and bars Framlingham
  • Manufacture of pumps Mere
  • Growing of spices, aromatic, drug and pharmaceutical crops in Bridlington
  • Manufacture of other knitted and crocheted apparel Willesden
  • Wholesale of chemical products Bromborough
  • Residential care activities for the elderly and disabled in Brampton
  • Retail sale of games and toys in specialised stores in Ludlow
  • Market research and public opinion polling Meltham
  • Library activities Royal Wootton Bassett
  • The building of ships and floating structures in Alcester
  • Manufacture of lime and plaster Conisbrough
  • Television programme production activities Mansfield
  • Physical well-being activities Bourne

Tough-to-finance property variants include properties built on contaminated land, leasehold properties with a short lease, typically less than 70 years, or a defective lease, properties of non-standard construction, timber buildings and Airey, Boot, Cornish Unit, Dorran, Dyke, Gregory, Hamish Cross, Myton, Newland, Orlit and Parkinson Frame.

Legal & General - Flexible Indigo

Challenging to finance home titles can include grade ll Listed houses (grade C in Scotland and B2 in Northern Ireland), properties with flying or creeping freehold which comprises 15% or less of the total floor area, 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 in coastal areas that may be affected by erosion.

Canada Life Home Finance lifetime mortgage
Release Equity In House Under 55

Difficult-to-finance home 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, coach houses i.e. freehold properties with garages beneath and basement or lower ground floor flats with level access to private or communal garden space.

Canada LIfe - Interest Select Gold Flexi

Hard-to-mortgage property types can include homes requiring essential repairs, properties where tenants live in a self-contained part of the property, feuhold/freehold properties (including flats) in Scotland, properties where the customer is offering only part of the title as security for the loan and properties owned under any form of shared equity scheme.

More to life  - Flexi Choice Lite
  • Aviva Lifetime Mortgage
  • Canada Life Equity Release Schemes
  • L&G Legal & General Premier Flexible Lifetime Mortgage
  • Liverpool Victoria LV= Lump Sum Plus Lifetime Mortgage
  • Pure Retirement Classic Drawdown Lite Plan
  • Stonehaven Equity Release
  • Age Partnership Equity Release
  • Bridgewater Equity Release Schemes
  • Canada Life Equity Release Schemes
  • L&G Legal & General Premier Flexible Lifetime Mortgage
  • Pure Retirement Lifetime Mortgage
  • Stonehaven Lifetime Mortgage
  • More 2 Life Tailored Choice Plan
  • TSB Lifetime Interest Only Mortgage
  • Age Partnership Interest Only Lifetime Mortgage
  • Bridgewater Equity Release
  • Just Retirement Interest Only Lifetime Mortgage
  • Pure Retirement Classic Drawdown Lite Plan
  • Royal Bank of Scotland Equity Release Plans
  • Age Partnership Lifetime Mortgage
  • Bridgewater Equity Release
  • Canada Life Interest Select Gold Flexi
  • L&G Legal & General Premier Flexible Lifetime Mortgage
  • More to Life Flexi Choice Drawdown Lite Plan
  • Pure Retirement Drawdown Plan
  • Lloyds Bank Lifetime Mortgage
  • Royal Bank of Scotland Interest Only Lifetime Mortgage
  • More 2 Life Flexi Choice Drawdown Lite Plan
Penrith Building Society Equity Release

Some of the most popular retirement finance offerings are Lloyds pensioner mortgages over 70s, Barclays Bank equity release schemes, NatWest mortgages for over 70s, L&G pensioner mortgages and Nationwide lifetime mortgages.

Equity Release LTV

The older you are and the unhealthier you are the more cash you can release.

Equity Release UK Providers

  • Aviva
  • Stonehaven
  • Key Solutions

Common LTV ratios of Virgin Money mortgages over 65, Shepherds Friendly interest-only lifetime mortgages for people over 60, Leeds Building Society later life borrowing schemes over 55, Skipton Building Society mortgages for over 70s, Nottingham Building Society remortgages for people over 50 years old and National Counties Building Society interest only retirement mortgages for over 70s are 50%, 60% and 70%.

Equity Release Rates: Empowering Your Financial Future

In today’s financial landscape, equity release has emerged as a powerful tool for individuals looking to unlock the value of their homes and secure a more comfortable retirement. This comprehensive guide navigates the world of equity release rates, addressing the unique needs of homeowners aged over 55, 60, 65, 70, and 75. We will explore various options, including lifetime mortgages, retirement remortgages, pensioner remortgages, release equity plans, and Retirement Interest-Only (RIO) mortgages.

Mortgages Over 55

Unveiling Financial Freedom at 55 and Beyond

Equity release is not solely reserved for retirees; individuals over 55 can also benefit from this financial solution. It offers an opportunity to access additional income, fund home improvements, or support diverse lifestyle choices. Understanding the significance of interest rates is essential when considering equity releases.

Lifetime Mortgages for Those Over 55

Lifetime mortgages stand as a prevalent choice for those over 55 seeking to release equity from their homes. These mortgages enable homeowners to borrow against their property’s value while retaining ownership. The borrowed amount, along with accrued interest, is typically repaid when the homeowner passes away or moves into long-term care.

Demystifying Equity Release Rates for Mortgages Over 55

Interest rates for equity release products aimed at those over 55 can exhibit considerable variations, influenced by factors like age, property value, and loan-to-value ratio. To make informed decisions, borrowers must compare offerings from different lenders and comprehend the long-term cost implications.

Mortgages Over 60

Unlocking Financial Flexibility Beyond 60

Individuals over 60 often possess a more substantial equity value in their homes, making them eligible for larger equity release sums. Equity release can provide financial stability during retirement and support diverse lifestyle aspirations.

Releasing Equity: A Strategic Move for Over 60s

Equity release empowers individuals over 60 to access a lump sum or receive regular payments, enabling them to achieve financial objectives or fulfil lifelong dreams, such as travel or home improvements.

Lifetime Mortgages: A Preferred Choice for Over 60s

Lifetime mortgages remain a favoured option for those over 60, offering flexibility and features such as drawdown plans, allowing borrowers to access funds as needed while accruing interest solely on the withdrawn amount.

Navigating Equity Release Rates for Over 60s

Interest rates for equity release products targeted at those over 60 are shaped by factors such as age, property value, and loan-to-value ratio. Borrowers must judiciously assess the rates offered by different lenders to secure favourable terms.

Mortgages Over 65

Meeting Shifting Financial Needs Post-65

As individuals enter their mid-60s, their financial priorities may evolve, rendering equity release an appealing option to unlock funds tied up in their homes. Equity release can help cover healthcare expenses, home adaptations, or elevate their retirement lifestyle.

Retirement Remortgages for Over 65s

Retirement remortgages constitute a form of equity release tailored for those over 65. This option allows homeowners to switch their existing mortgage to release equity, potentially securing a lower interest rate or additional borrowing.

Deciphering Equity Release Rates for Over 65s

Interest rates for equity release products aimed at those over 65 are determined by factors like property value, age, and loan-to-value ratio. Prospective borrowers must meticulously evaluate rates offered by various lenders to identify the most cost-effective solution.

Mortgages Over 70

Significance of Equity Release Beyond 70

For individuals over 70, equity release can provide essential financial support, covering critical expenses, assisting family members, or enabling them to maximize their retirement without downsizing or selling their homes.

Pensioner Remortgage: A Strategic Choice for Over 70s

Pensioner remortgages represent a specialized equity release option for those over 70. They offer the opportunity to remortgage an existing property to release equity or secure a more favourable interest rate.

Navigating Equity Release Rates for Over 70s

Interest rates for equity release products aimed at those over 70 can vary. Borrowers in this age group should explore the rates offered by various lenders, taking into account the long-term financial impact of their decisions.

Mortgages Over 75

Addressing Complex Financial Needs Beyond 75

As individuals cross the age of 75 and beyond, their financial requirements may become more intricate. Equity release can provide a practical solution, allowing them to address these needs while remaining in their homes.

The Role of Lifetime Mortgages for Over 75s

Lifetime mortgages continue to be a valuable option for those over 75, offering customized solutions to meet their unique financial objectives.

Deciphering Equity Release Rates for Over 75s

Interest rates for equity release products aimed at those over 75 may differ from rates for younger age groups. Borrowers in this category should explore the rates offered by various lenders to identify the most cost-effective solution.

Retirement Remortgages

Retirement Remortgages: A Holistic Overview

Retirement remortgages serve as a form of equity release that enables homeowners to remortgage their properties to release equity. This option can be particularly beneficial for individuals looking to secure a lower interest rate or access additional funds.

The Versatility of Retirement Remortgages

Retirement remortgages offer flexibility, allowing borrowers to tailor their mortgage terms to their specific requirements. This can involve choosing between lump-sum payments, regular income, or a combination of both.

Interest Rates for Retirement Remortgages

Interest rates for retirement remortgages can vary, depending on the lender and the borrower’s circumstances. It is essential for individuals considering this option to compare rates and comprehend their financial implications.

Pensioner Remortgage

Unveiling the Potential of Pensioner Remortgages

Pensioner remortgages cater specifically to retirees seeking to release equity from their homes. These mortgages can help supplement retirement income or fund essential expenses.

The Benefits of Pensioner Remortgages

Pensioner remortgages offer various advantages, including the ability to access cash without selling the property and the potential to secure a more favourable interest rate.

Equity Release Rates for Pensioner Remortgages

Interest rates for pensioner remortgages may vary based on factors such as property value, loan-to-value ratio, and the borrower’s age. Retirees must assess the rates different lenders offer to identify the most cost-effective option.

Lifetime Mortgage

Unpacking the World of Lifetime Mortgages

Lifetime mortgages stand out as a popular equity release product, allowing homeowners to borrow against their property’s value while retaining ownership. Typically, these mortgages are repaid when the homeowner passes away or enters long-term care.

Exploring the Versatility of Lifetime Mortgages

Lifetime mortgages offer diverse features, including drawdown plans, interest roll-up options,

and inheritance protection, making them a versatile choice for those looking to release equity.

Understanding Interest Rates for Lifetime Mortgages

Interest rates for lifetime mortgages can vary depending on several factors, such as age, property value, and loan-to-value ratio. Borrowers should diligently assess the rates offered by different lenders to select the most cost-effective solution.

Release Equity: A Path to Financial Freedom

The Liberation of Financial Freedom through Equity Release

Equity release empowers homeowners with the financial freedom to pursue their dreams and secure a comfortable retirement. Whether it’s funding home improvements, supporting family members, or enjoying new experiences, equity release can make it possible.

Empowering Informed Decisions About Equity Release Rates

To make informed decisions about equity release rates, borrowers should seek professional financial advice, compare offers from multiple lenders, and consider their long-term financial goals and needs.

In summary, equity release rates play a pivotal role in the financial decisions of homeowners aged over 55, 60, 65, 70, and 75. Understanding the various equity release options available and their associated interest rates is essential for making informed choices that align with individual financial goals and circumstances. Whether opting for lifetime mortgages, retirement remortgages, or pensioner remortgages, homeowners should carefully assess interest rates and seek expert guidance to secure their financial future during retirement.

It’s very common to encounter people looking for lump sum lifetime mortgages, monthly payment lifetime mortgages or lifetime mortgages with flexible drawdown cash releases, however, More to life like Royal London Equity Release are keen to see evidence of your situation in the form of investment statements.

Penrith Building Society Equity Release

Common loan to values of LV= remortgages for people over 50 years old, More 2 Life mortgages for 60 plus pensioners, OneFamily later life interest-only mortgages over 60, YBS equity release schemes for people over 70, Principality Building Society later life mortgages for over 70s and SunLife mortgages for 60 plus are 50%, 60% and 70%.

Towns where equity release is routine

  • Colyton
  • Crowle
  • Bewdley
  • Shifnal
  • Porthleven
  • Grange-over-Sands
  • Langport
  • Kingsteignton
  • Elland
  • Andover
  • Blandford Forum
  • Seaford
  • Malmesbury
  • Holsworthy

The lender will want to know if the property is a Freehold house or a Leasehold flat with a share of freehold and if the resident is an owner-occupier.

Equity Release LTV

  • 60% monthly payment lifetime mortgage Legal & General
  • 25% loan to value monthly payment lifetime mortgage Vida Homeloans

Common loan-to-value ratios of TSB equity release schemes for those over 55’s, Barclays Bank mortgages for 60 plus, Halifax mortgages for pensioners over 60, Legal & General interest only mortgages for over 60s, Bank of Scotland later life interest only mortgages over 75 and Nationwide BS lifetime mortgages for over 60s are 35%, 55% and 70%.

Does Penrith Building Society offer retirement remortgages for the over 60s?

Yes, a Penrith Building Society retirement remortgage for people over 60 is 3.69% APRC fixed for life.

Does Penrith Building Society offer pensioner remortgages for over 60s?

Yes, a Penrith Building Society pensioner remortgage for homeowners over 60 is 3.57% MER fixed for life.

Does Penrith Building Society offer a later life remortgage for people over 60?

Yes, Penrith Building Society later life remortgages for over 60s are 3.52% APR fixed for life.

Does Penrith Building Society do the best remortgage for retired pensioners over 60?

Yes, Penrith Building Society the best remortgages for the over 60s are 3.26% MER fixed for life.

Does Penrith Building Society offer a remortgaging option for pensioners over 60?

Yes, Penrith Building Society remortgaging options for over 60s are 3.53% AER fixed for life.

Does Penrith Building Society do a mortgage calculator for pensioners over 60?

Yes, Penrith Building Society mortgage calculators for the over 60s shows 3.56% MER fixed.

Does Penrith Building Society offer RIO mortgages for retired homeowners over 60?

Yes, a Penrith Building Society RIO mortgage for over 60s is 3.94% AER fixed.

Does Penrith Building Society do a retirement interest only mortgage for homeowners over 60?

Yes, Penrith Building Society retirement interest only mortgages for the over 60s are 3.19% AER variable.