- Remove tax-free equity from your property
- Not necessary to make regular monthly payments
- Use the money for a holiday
- Stay living in your own house
- Bridgewater Lifetime Mortgage
- Just Retirement Interest Only Lifetime Mortgage
- L&G Legal & General Flexible Max Plus
- Pure Retirement Equity Release Plans
- Stonehaven Lifetime Mortgage
- TSB Equity Release Plans
- Bridgewater Lifetime Mortgage
- L&G Legal & General Flexible Plus Lifetime Mortgage
- Pure Retirement Lifetime Mortgage
- Lloyds Bank Lifetime Mortgage
- Nationwide Equity Release
- HSBC Interest Only Lifetime Mortgage
- Royal Bank of Scotland Interest Only Lifetime Mortgage
- Age Partnership Equity Release Schemes
- Canada Life Voluntary Select Gold
- More2Life Capital Choice Plus Plan
- More to Life Flexi Choice Voluntary Payment Super Lite
- Pure Retirement Lifetime Mortgage
- Lloyds Bank Equity Release
- More 2 Life Flexi Choice Voluntary Payment Super Lite
What percentage can be released?
- 50% lump sum lifetime mortgages Royal London Equity Release
- 60% loan to value (LTV) lifetime mortgage with flexible drawdown cash release Paragon Personal Finance
- 50% loan to value (LTV) home reversion plans Norton Finance
- 30% loan to value monthly payment equity release Buckinghamshire Building Society
What percentage can be released?
The older you are and the more serious your illnesses you are, the more tax-free cash you can release.
Equity Release Providers
- Sunlife Plans
- Stepchange
- the Telegraph
- Bridgewater
Areas in the UK where retirement mortgages are common
- Highworth
- Horsforth
- Thornaby-on-Tees
- Bridgnorth
- Bruton
- Halifax
- Cleckheaton
- Grassington
- Chester-le-Street
- Twickenham
- Billingham
- Billingham
- Guisborough
- Blackrod
- Sherborne
- Carterton
- Bishops Waltham
It is common to encounter people searching for lump sum lifetime mortgages, monthly payment lifetime mortgage or lifetime mortgage with flexible drawdown cash release, however, Age Concern like Royal London Equity Release are keen to see evidence of your situation in the form of bank statements.
Pure Retirement Retirement Mortgages
Crown Retirement Mortgages
More2Life
Examples of retired business owners likely to have equity to release
- Manufacture of other games and toys, n e c Sleaford
- Retail sale of newspapers and stationery in specialised stores Stanley
- Manufacture of cider and other fruit wines St Neots
- Finishing of textiles Romsey
- Activities of real estate investment trust Peacehaven
- Medical nursing home activities Wilmslow
- Manufacture of other general-purpose machinery n e c Ealing
- Plumbing, heat and air-conditioning installation Morpeth
- Fire service activities Silloth
- Other telecommunications activities West Tilbury
- Media representation services Somerton
- Financial leasing Skelton-in-Cleveland
- Manufacture of office and shop furniture Widnes
- Manufacture of doors and windows of metal Ashburton
- Research and experimental development on social sciences and humanities Tavistock
- Raising of poultry Prudhoe
- Removal services Watford
- Manufacture of machinery for paper and paperboard production Brandon
The mortgage lender will want to know if the property is a Detached freehold house or a Leasehold house and if the resident is a Private Tenant.
Drawbacks of Equity Release Plans
Monthly payment equity release can reduce the value of your estate. Lumpsum lifetime mortgages may impact the ability to claim entitlements. You may need to pay a broker’s fee, and you could have higher rates to pay with some schemes.
