Sorting by

×

Equity Release Penrith Building Society – Lifetime Mortgage options

penrith

  • Remove tax-free money from your property
  • No monthly repayments
  • 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.

  • Your Requirements

  • Please enter a number from 4000 to 200000000.
  • Please enter a number from 50000 to 10000000.

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

  • Your Requirements

  • Please enter a number from 4000 to 20000000.
  • 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.

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

More2Life 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 Bridlington
  • Manufacture of other knitted and crocheted apparel Willesden
  • Wholesale of chemical products Bromborough
  • Residential care activities for the elderly and disabled Brampton
  • Retail sale of games and toys in specialised stores Ludlow
  • Market research and public opinion polling Meltham
  • Library activities Royal Wootton Bassett
  • The building of ships and floating structures 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.

More2Life - 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
  • HSBC Interest Only Lifetime Mortgage
  • 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
  • HSBC Interest Only 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

Short Lease London

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%.

It’s very regular to encounter people looking for lump sum lifetime mortgages, monthly payment lifetime mortgage or lifetime mortgage with flexible drawdown cash release, however, More2Life like Royal London Equity Release are keen to see evidence of your situation in the form of investment statements.

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 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 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%.