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Compare Saffron Equity Release 1.89% APR

  • Saffron Building Society Equity ReleaseRemove 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

How much can I borrow?

You can release 60% of your property’s value. For example, if your house is valued at £260000 you can borrow £156000.

  • 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

Customer Testimonials

RIO

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.

RIO

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

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.
RIO

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.
RIO

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.
RIO

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.
RIO

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.

  • Free No Obligation Quote

  • Please enter a number from 4000 to 20000000.
  • Leave blank if no mortgage outstanding
  • About You

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Access home equity
Money tied up in house
Old money home
Over 55 Home owner

 

 

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
  • More to life 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, More to life 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

  • Wivenhoe
  • Swindon
  • Tiverton
  • Saffron Walden
  • Mossley
  • Clevedon
  • Mablethorpe and Sutton
  • Carterton
  • Kimberley
  • Reading
  • West Bromwich
  • Northwich
  • Tenterden
  • Watchet
  • Keighley

Legal and General

Tough to finance property titles include properties will be assessed for flood risk, leasehold properties with a short lease, typically less than 70 years, or a defective lease, properties where there are boundary disputes or where planning applications have not been applied for correctly, thatched buildings and missing planning permission or building regulations approval.

Just Drawdown Lifetime Mortgages

Tough to mortgage home variants can 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 without direct access to an adopted highway or which are accessed over an unmade road, properties where there is a self-contained part of the property or annexe, i.e. basement flat etc and properties with mobile phone masts which are within influencing distance of the house.

Just

Lloyds Bank Retirement Mortgages Comparison

Hard to finance home variants can include difficult roof structures, properties with any externally applied insulation to the walls after construction, properties with minimum floor area of 30 square metres, freehold/feuhold flats (Scotland only) and privately developed flats in blocks of three or four storeys without a lift.

Hard to mortgage property variants include properties where proposed building works have not yet commenced, age restricted properties, right to buy – properties in Scotland, commonhold properties and properties where the borrower(s) own the freehold with any connected party.

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
  • Stepchange
  • the Telegraph
  • More to Life

Lloyds Bank Retirement Mortgages UK
Equity Release Mortgage Under 55

 

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

more 2 life lifetime mortgage

Common loan to valuesof Aviva later life mortgages for over 60s, Shepherds Friendly mortgages for pensioners over 60, Sainsburys equity release schemes for over 55’s, Coventry Building Society mortgages for over 50 year olds, Nottingham Building Society equity release schemes for people over 70 and National Counties Building Society mortgages for 60 plus are 40%, 55% and 70%.

OneFamily lifetime mortgage

Popular loan to value percentages of LV= later life mortgages for over 70s, More 2 Life over 60 mortgages, OneFamily mortgages for over 50 year olds, Yorkshire Bank interest only mortgages for over 65 year olds, Metro Bank mortgages for people 60 plus and Axa remortgages for people over 50 years old are 50%, 60% and 70%.

Pure Retirement Ltd lifetime mortgage

Some of the most common loan to value ratios of Lloyds pensioner mortgages over 55, HSBC mortgages for over 60s, Post Office later life interest only mortgages over 75, Legal and General interest only lifetime mortgages for people over 60, Bank of Scotland over 60 mortgages and Nationwide interest only mortgages for over 60s are 45%, 60% and 65%.

Aviva lifetime mortgage with cashback

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.

Many of the most appealing retirement loan offerings include Lloyds later life interest only mortgages over 70, Barclays interest only mortgages for people over 70, NatWest interest only lifetime mortgages, L&G retirement interest only mortgages and Nationwide Building Society mortgages over 70s.