- Remove tax-free money from your property
- No monthly payments
- Help your family with the cash you release
- Stay living in your own property for as long as you like
- Often used to help tax planning
Sandra from Manchester
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.
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.
Mrs Daly from Glasgow
My daughter lives in the states and does not have health insurance. My £30,000 lifetime mortgage paid the medical bills for her son to be born and a years rent in advance for a new flat for the baby.
Ms T from Hammersmith
My husband recently died leaving me with a mortgage I could not afford to pay. The lifetime mortgage allowed me to pay off the mortgage and have enough money left over for a new bathroom, kitchen, and roof repair.
Mrs L from Nottingham
I had to pay a valuation fee and a solicitor’s fee, but no lender or broker fees for my lifetime mortgage. As I was divorcing my husband of 30 years the money went to him for his share of the house. I am happy now as I am secure, and I do not need to move from my home.
Mrs G from Leeds
My daughter is a single mother, and I got a £120,000 lifetime mortgage to buy her a flat outright as she has had a succession of poorly maintained rental flats not suitable for her child.
Ms G from Dover
I divorced my husband who was a violent alcoholic. I really feared losing my home as I sometimes look after my daughter’s children. Equity release enabled me to pay off my ex and stay secure in my home.
- Lloyds Bank Retirement Mortgages Advice
- HSBC Equity Release Brokers Uk
- Nationwide Lifetime Mortgage Broker
- Halifax Lifetime Mortgage Maximum Ltv
- Lloyds Bank Equity Release From House
- Lloyds Equity Release Plans
- Natwest Lifetime Mortgage Maximum Ltv
- Nationwide Equity Release Drawdown
- Halifax Retirement Mortgage Lenders
- Natwest Equity Release Best Deals
- Santander Lifetime Mortgage No Payments
- Lloyds Lifetime Mortgage Comparison
- Halifax Equity Release Brokers Uk
- HSBC Lifetime Mortgage Advisers
- Natwest Retirement Mortgage Interest Only
- Santander Retirement Mortgage
- Lloyds Bank Lifetime Mortgage Calculator
- Santander Equity Release Drawdown
- HSBC Retirement Mortgage Providers
Equity Release LTV
- 55% monthly payment lifetime mortgage Fortify Insurance Solutions
- 25% loan to value (LTV) home reversion schemes BlueZest
- 55% loan to value (LTV) lump sum lifetime mortgages 1st Stop Home Loans
- Bridgewater Lifetime Mortgage
- Hodge Lifetime Mortgage Plus
- More2Life Flexi Choice Drawdown Lite Plan
- Pure Retirement Lifetime Mortgage
- Stonehaven Lifetime Mortgage
- HSBC Equity Release
- Canada Life Lifetime Mortgages
- Just Retirement Drawdown Lifetime Mortgage
- L&G Legal & General Flexible Plus Lifetime Mortgage
- Nationwide Equity Release
- Aviva Equity Release Schemes
- Hodge Lifetime Flexible Voluntary Repayment Plan
- More to Life Flexi Choice Voluntary Payment Super Lite
- TSB Lifetime Interest Only Mortgage
- Saga home reversion schemes
- Bridgewater Equity Release
- Canada Life Lifetime Mortgages
- L&G Legal & General Flexible Max Plus
- Nationwide Equity Release Schemes
- HSBC Interest Only Lifetime Mortgage
- Age Partnership Interest Only Lifetime Mortgage
Its very regular to discover individuals seeking out lifetime mortgage with flexible drawdown cash release, lump sum life time mortgages or home reversion schemes, however, More2Life like AIG Life are keen to see paperwork to show your situation in the form of pension statements.
Areas of the UK where equity release is popular
- Saffron Walden
- Mablethorpe and Sutton
- West Bromwich
The mortgage lender will want to know if the property is a Freehold terraced house or a Leasehold house and if the resident is an AST Tenant.
UK Equity Release Lenders
- Age Partnership
- the Telegraph
- More to Life
Equity release is common among business owners like below
- Silviculture and other forestry activities Crowborough
- Manufacture of industrial gases Barnard Castle
- Cutting, shaping and finishing of stone Penryn
- Manufacture of other products of wood; manufacture of articles of cork, straw and plaiting materials Ramsey
- Manufacture of machinery for food, beverage and tobacco processing Stretford
- Media representation services Sandhurst
- Manufacture of pumps Moretonhampstead
- Public order and safety activities Burslem
- Operation of warehousing and storage facilities for land transport activities Padiham
- Electrical installation Wadebridge
- Agents involved in the sale of machinery, industrial equipment, ships and aircraft Great Yarmouth
- Manufacture of watches and clocks Stockton-on-Tees
- Manufacture of musical instruments Andover
- Satellite telecommunications activities Banbury
- Licensed carriers Shanklin
- Building of ships and floating structures Wimbledon
- Manufacture of wiring devices Burton upon Trent
- Reproduction of sound recording Frinton and Walton
Equity Release LTV Percentages
The more elderly you are and the more illnesses you have you are the more cash you can release.
Disadvantages of Lifetime Mortgages
Monthly payment equity release can reduce the inheritance for your family. Monthly payment equity release may impact ability to claim benefits. You may need to pay a broker’s fee and some products expose you to changes in interest rates.
Saffron Building Society Product name: Lending into Retirement Downsizing (LIRD) and Retirement Interest Only (RIO) Capital repayment or interest-only? Interest-only. Minimum property value: Minimum £100,000. Must have at least £250,000 equity for LIRD. Minimum/Maximum loan sum: £30,000/£1m. Maximum LTV: 50% for RIO. 60% for LIRD. Minimum/Maximum age at application: LIRD has no Minimum age but must be within five years of retirement. RIO has 55 Minimum age but you must be retired. Neither has max-age. Minimum income: none, though you’ll need to be able to prove you can afford the interest payments. Mortgage term: Minimum five years. No Maximum for RIO, 40-year Maximum for Lending into Retirement Downsizing. Overpayments: up to ten per cent fee-free per year on the LIRD deal, with a 2% early repayment charge (ERC) on anything above that in the first three years. Up to 20% fee-free per year with the RIO deal; 3% ERCs apply above that in the first three years. Unlimited fee-free overpayments after three years for both products. How is the loan repaid? Lending into Retirement Downsizing is designed to be repaid by selling your home and downsizing. RIO will run until you die or move into long-term care. Either deal type can also be repaid through overpayments.