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Lifetime mortgages for purchase of a house in the UK for 2022

purchase

  • Release-tax free equity from your house
  • You don’t need to make regular monthly payments
  • Use the equity released for anything you like
  • Still, have a few more mortgages payments to make? No problems
  • Continue to live in your own property
  • Often used to help tax planning

How much can I borrow?

You can release 65% of your property’s value. As an example, if your house is valued at £310000 you can release £201500.

  • Your Requirements

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

West London Home
Wandsworth Family Home
Homeowner in their 60s
Money tied up in house

  • Your Requirements

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

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Equity Release UK Lenders

  • Bower
  • More to Life
  • the Telegraph
  • Prudential
  • Legal & General
  • Difficult to finance property variants include difficult roof structures, properties with any external treatment applied to the roof after construction, large concrete panel systems, coach houses i.e. freehold properties with garages beneath and basement or lower ground floor flats without level access to private or communal garden space.

Retired business owners that may be interested in Home Reversion Schemes

  • Manufacture of synthetic rubber in primary forms Spalding
  • Electrical installation Crediton
  • Wholesale of dairy products, eggs and edible oils and fats St Mary Cray
  • Binding and related services Sheringham
  • Demolition Ramsgate
  • Wholesale of mining, construction and civil engineering machinery Launceston
  • Renting and leasing of cars and light motor vehicles Bromborough
  • specialised design activities Haslemere
  • Media representation services Leyton
  • Manufacture of pumps Birchwood
  • Urban and suburban passenger railway transportation by underground, metro and similar systems Liskeard
  • Manufacture of plastic packing goods Gainsborough
  • Manufacture of mattresses Hebden Royd
  • Other accommodation Swanscombe and Greenhithe
  • Specialised cleaning services Bentham
  • Manufacture of pesticides and other agrochemical products Swaffham
  • Manufacture of soft drinks; production of mineral waters and other bottled waters Cheltenham
  • Unlicensed carrier South Cave

OneFamily joint lifetime mortgage

Hard to mortgage home types include properties in poor condition, properties where letting arrangement where the tenancy agreement is not appropriate, freehold houses and bungalows (England, Wales, Northern Ireland), properties where the customer is offering only part of the title as security for the loan and properties with single skin brickwork.

more 2 life lifetime mortgage

Common loan to value percentages of Virgin Money lifetime mortgages for over 55s, Shepherds Friendly help to buy for over 60s, Churchill pensioner mortgages over 55, Coventry Building Society over 60 mortgages, Newcastle Building Society mortgages for pensioners over 60 and Progressive Building Society mortgages for people over 50 are 45%, 55% and 70%.

Canada Life Home Finance lifetime mortgage for properties in Scotland

Some of the most common LTV ratios of LVE later life mortgages for over 60s, More to life later life mortgages for over 60s, One Family lifetime mortgages for people over 55, YBS interest only lifetime mortgages for over 70s, Royal London mortgages for over 65 and Axa mortgages for 60 plus are 40%, 55% and 70%.

Pure Retirement Ltd joint lifetime mortgage

 

Areas of the UK where equity release is common

  • Ulverston
  • Dovercourt
  • Shoreham-by-Sea
  • March
  • Padstow
  • Padstow
  • Birkenhead
  • Hartlepool
  • Coleford
  • Raunds
  • Highworth
  • Ingleby Barwick
  • Swaffham
  • Haslingden
  • Aldeburgh
  • Hartland
  • Shaftesbury
  • Kidsgrove
  • Wednesbury
  • Eastwood
  • Aviva Lifetime Mortgages
  • Hodge Lifetime Mortgage Plus
  • Just retirement defined benefit
  • Royal Bank of Scotland Equity Release
  • Saga Equity Release Schemes
  • Aviva Equity Release Schemes
  • Just retirement equity release key features
  • Pure Retirement Classic Voluntary Payment Super Lite
  • Nationwide Equity Release Plans
  • Canada Life Lifestyle Lite Flexi
  • Liverpool Victoria LV Equity Release Plans
  • Nationwide Equity Release Schemes
  • More to Life Tailored Choice Plan
  • Hodge Lifetime Mortgage Flexible Drawdown Plan
  • Liverpool Victoria LV Equity Release
  • More to life Flexi Choice Drawdown Lite Plan
  • Stonehaven Interest Only Lifetime Mortgage
  • Nationwide Equity Release
  • Age Partnership Interest Only Lifetime Mortgage

Equity Release LTV Percentages

  • 50% monthly payment equity release Legal & General
  • 60% LTV monthly payment lifetime mortgage Just Retirement
  • 40% loan to value home reversion schemes LV equity release
  • 25% loan to value (LTV) monthly payment lifetime mortgage Evolution Money
  • 30% loan to value monthly payment equity release HSBC Direct
  • 40% loan to value monthly payment equity release Prudential Lifetime

Some of the most common pensioner mortgage products include Lloyds Bank mortgages over 65, Barclays Bank interest only mortgages for over 65 year olds, Halifax interest only mortgages for people over 60, Legal and General mortgages for over 65 and Nationwide Building Society interest only mortgages for people over 60.

Downsides of Lifetime Mortgages

Lump-sum lifetime mortgages can reduce your estate value. Lifetime mortgage with flexible drawdown cash release may impact entitlements to benefits. You may need to pay an advisor’s fee and you could have higher rates to pay with some schemes.

The mortgage lender will want to know if the property is a Semi detached freehold house or a Leasehold flat with share of freehold and if the resident is an AST Tenant.

What percentage can be released?

The more aged you are and the more serious your illnesses you are the more money you can release.

Tough to mortgage property variants include high service charges, properties close to mining works, areas of landfill, areas of recent flooding or subsidence, derelict property or where part of the building is in severe disrepair and needs demolishing, mundic homes and Reema Hollow panel, Schindler and Hawksley SGS, Stent, Stonecrete, Stour, Tarran, Underdown, Unity and Butterley, Waller, Wates, Wessex, Winget and Woolaway.

Hodge Lifetime Lifetime Mortgages
Equity Release Mortgage Under 55

Legal and General Retirement Mortgages

Pure Retirement Equity Release

LV Lifetime Mortgages

It is often found to encounter individuals searching for lump sum lifetime mortgages, lumpsum lifetime mortgages or interest-only lifetime mortgages, however, Age Concern like The Exeter Equity Release are keen to see proof of your personal situation in the form of bank statements.

Popular loan to values of Lloyds Bank mortgages for pensioners over 60, Barclays Bank mortgages for 60 year olds, Halifax mortgages for 60 year olds, L&G later life mortgages for over 60s, Bank of Scotland interest only mortgages for people over 60 and Nationwide Building Society mortgages for 60 year olds are 40%, 55% and 70%.

Tough to mortgage property titles can include properties with outbuildings used for normal domestic purposes (garage, workshop, stables, barn etc), properties with a single annexe or other self-contained part of the property, agricultural use of the land and any outbuildings, properties that are being used for personal commercial use and properties adversely affected by existing or proposed issues including roads, rail, airports, power plants, power lines/pylons, wind turbines, sub stations, sewage works, quarries, fuel stations, refuse sites, sports grounds, noise, light or environmental pollution.