- Remove tax-free money from your property or get a mortgage to move house at 1.97% APR
- No need to make regular monthly payments if you don’t want to
- Buy a family member a home without a mortgage
- Still, have some mortgage outstanding? No problems
- Continue to stay in your house for as long as you like
Equity release loan to value?
You can borrow 65% of your property’s value. As an example, if your house is valued at £340,000 you can get £221,000.
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. Mortgages for over 60s was great for me
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. Mortgages for 60 plus turned out well for me!
Mrs Shaw from Lancaster
I had an interest-only mortgage with Birmingham Midshires. The mortgage had come to the end of its term and they wanted the £127000 back I still owed them. My lifetime mortgage saved me from losing my home and the rate was close to what I paid before. An over 60s mortgage turned out well for me.
Mrs M from Birmingham
With no broker fees and no lender fees, I got an interest-only retirement mortgage which I pay each month from my private pension. The money released went to my daughter for her wedding and the deposit for her next house. She wanted a family, and her flat was too small.
William from London
I was told by my lawyer my inheritance tax bill would be around £250,000. I got a lifetime mortgage to give money to my son and daughter so they could buy bigger homes and we bought a house in the south of France for us all to use as a holiday home.
My understanding of Mortgages for over 60s saved me a lot of money and changed my life for the better.
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. During my research, I found that mortgages for over 60s can be a very low rate.
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. Mortgages for over 60s can be offered at very low rates.
Mr G from Kent
I got an interest-only lifetime mortgage and gave my sons £100,000 each so they could put a deposit down on a home. My money made it possible for them to get a very good mortgage deal, especially one son who is not well paid.
- Aviva Lifetime mortgage for over 60
- More2Life Flexi Choice Voluntary Payment Super Lite mortgage for over 60s
- Stonehaven Interest Select Plan mortgage over 60
- Nationwide older people Equity Release Schemes
- HSBC mortgages for over 60
- NatWest type of mortgage – Equity Release
- Age Partnership mortgages for the over 60s
- Aviva Flexible Voluntary Repayment Plan maximum age 105
- Bridgewater mortgages for over 60’s
- compare mortgages – Canada Life Equity Release
- England and Wales Pure Retirement Classic Drawdown Lite Plan
- Nationwide mortgages for 60 year olds
- HSBC Interest Only Lifetime Mortgage age limits
- TSB over 60 lifetime mortgage
- Aviva Equity Release Plans upper age 88
- Liverpool Victoria LV Equity Release Schemes
- registered in england Pure Retirement Equity Release Plans
- Stonehaven Equity Release Plan
- NatWest Lifetime Mortgage later in life
- Age Partnership Equity Release with retirement income
- Just Retirement Equity Release Schemes
- L&G Legal & General Flexi Max Voluntary Repayment Plan
- Nationwide Equity Release Schemes for an older borrower
- NatWest over 60 mortgage
What percentage can be released? – interest only mortgages for over 60s
- 50% mortgage at 60
- 45% loan to value lumpsum lifetime mortgages Stonehaven Mortgage
- 60% loan to value mortgages over 60
- 35% loan to value (LTV) lumpsum lifetime mortgages Shawbrook
- 25% loan to value (LTV) santander over 60 mortgage
- Natwest Lifetime Mortgage Home Reversion Plan
- Nationwide Lifetime Mortgage Calculator
- HSBC Retirement Mortgage Comparison
- Lloyds Retirement Mortgage Home
- Natwest Retirement Mortgage House
- Lloyds Bank Lifetime Mortgage Maximum Ltv
- Lloyds Bank Retirement Mortgages
- Natwest Equity Release Plan
- Santander Lifetime Mortgage Broker
- Halifax Equity Release Loan
- HSBC Lifetime Mortgage Rates 2021
- Santander Equity Release Loan
- Lloyds Lifetime Mortgage Over 55
- Lloyds Bank Equity Release
- Halifax Retirement Mortgage Broker
- Nationwide Retirement Mortgage Loan
- Halifax Lifetime Mortgage Advisers
- Lloyds Equity Release Brokers Uk
- Nationwide Equity Release Mortgage
The mortgage lender will want to know if the property is a Semi detached freehold house or a Leasehold house and if the resident is an Assured shorthold tenancy tenant.
Pitfalls of Home Reversion Schemes – over 60s mortgage
Lump-sum lifetime mortgages and mortgages for 60 plus can reduce the inheritance for your family. Monthly payment equity release may impact the ability to claim benefits. You may need to pay a legal fee and some products expose you to changes in interest rates.
Examples of retired small business owners likely to have equity to release or who could benefit from mortgages for over 60s
- Manufacture of machinery for textile, apparel and leather production Sandwich
- Manufacture of electrical and electronic equipment for motor vehicles and their engines Doncaster
- Activities of insurance agents and brokers Quedgeley
- Finishing of textiles Tottenham
- Manufacture of watches and clocks Trowbridge
- Maintenance and repair of motor vehicles Rugeley
- Processing and preserving of fish, crustaceans and molluscs Horsham
- Another retail sale of new goods in specialised stores, not commercial art galleries and opticians Ledbury
- Precious metals production Ringwood
- Retail sale of audio and video equipment in specialised stores Middlesbrough
- Medical nursing home activities Thatcham
- Agents involved in the transaction of fuels, ores, metals and industrial chemicals Accrington
- Agents involved in the sale of machinery, industrial equipment, ships and aircraft Keighley
- Other engineering activities Featherstone
- Agents involved in the transaction of a variety of goods Hounslow
- Wholesale of computers, computer peripheral equipment and software Royal Tunbridge Wells
- Manufacture of ready-mixed concrete Lytchett Minster & Upton
- Take-away food shops and mobile food stands Birchwood
Towns where equity release is popular – mortgages for 60 plus
- Market Bosworth
- Budleigh Salterton
- Ashby Woulds
- North Hykeham
- Portishead and North Weston
Mortgages for the over 60s
It’s usual to encounter people searching for lifetime mortgage with flexible drawdown cash release, lump sum lifetime mortgages or monthly payment equity release, however, mortgages for over 60s like Aegon are keen to see paperwork to show your situation in the form of bank statements.
What percentage can be released – mortgage for over 60?
The older you are, and the sicker you are, the more cash you can release.
UK Equity Release Scheme Providers – mortgages for over 60s
- the Telegraph – your home may be repossessed if you don’t pay on time
- getting a mortgage with Prudential Lifetime
- Aviva repayments on your mortgage
- Norwich Union building society
- Maximum cover Equity Release – keep up repayments