Get a mortgage for over 65 pensioners
Release tax-free equity from your home or move home
Find out the Top 10 lenders for people your age
You don’t need to make regular monthly payments if you don’t want to
Buy a family member home without a mortgage
Are you still paying a mortgage? That’s fine we can help with that
Continue to stay in your home
Can be used to help with tax planning

How much can I get?

You can release 65% of your property’s valuation. For example, if your house is worth £270000 you can borrow £175500.

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- I’m interested in releasing equity
- I would like to mortgage my existing home
- I would like to remortgage my existing home
- I’m moving and need a mortgage for a new house
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Equity Release LTV

50% lifetime mortgage with flexible drawdown cash release The Exeter Equity Release
50% loan to value lump sum lifetime mortgages More to life
35% loan to value (LTV) lump sum lifetime mortgages Optimum Credit
25% LTV home reversion schemes Keystone
35% loan to value interest-only lifetime mortgages New Life
25% loan to value interest-only lifetime mortgages Clearly Loans
25% loan to value (LTV) monthly payment lifetime mortgage Chorley Building Society

Tough-to-finance home titles can include properties with a sinking fund of 7% or more of the property sale price when the property is sold, ground rent where the lease or any deed varying the lease provides for a ground rent exceeding, or where the escalating provisions would result in the ground rent exceeding £250 per annum (or £1000 per annum where the property is in Greater London), derelict property or where part of the building is in severe disrepair and needs demolishing, asbestos construction and concrete frame.

Aviva

Hodge Lifetime Retirement Mortgages

Challenging to mortgage property titles include properties built or converted into dwellings more than 10 years ago, properties with a large number/scale of outbuildings, properties with a small number of solar panels or a wind turbine on the land for domestic use, properties with mobile phone masts which are not within influencing distance of the house and properties that have a private water supply provided a contract is in place with an approved maintenance company for regular testing and maintenance.

LV Retirement Mortgages

Does Penrith Building Society do Equity Release products?

Yes, the Penrith Building Society Equity Release is available at a 5.34% APRC.

Crown Mortgages

What are the current Penrith Building Society interest rates for equity release?

Penrith Building Society rates for equity release are 5.13% MER.

Does Penrith Building Society have favourable reviews for equity release?

Yes, Penrith Building Society reviews are commendable for equity release.

Difficult-to-mortgage property variants include eco houses and modern methods of construction, timber framed properties built between 1920 and 1965, properties with a minimum floor area of 30 square metres, studio flats outside the M25 and privately developed flats in blocks of three or four storeys without a lift.

It’s very regular to find individuals seeking out lump sum lifetime mortgages, monthly payment lifetime mortgages or monthly payment equity releases; however, Lifetime mortgages from L&G, like The Exeter Equity Release, are keen to see proof of your situation in the form of pension statements.

Hard-to-mortgage property variants can include homes requiring essential repairs, properties where multiple third parties are living in an annexe, leasehold properties (England, Wales, Northern Ireland) subject to a lease length of 160 years, properties with unregistered titles subject to these being registered as part of the legal process and properties owned under any form of shared equity scheme.

Drawbacks of Equity Release Schemes

Lump-sum lifetime mortgages can reduce the value of your estate. Lump sum lifetime mortgages may impact the ability to claim benefits. You may need to pay a solicitor’s fee and some products expose you to changes in interest rates.

Equity release is common among business owners like follows

Medical nursing home activities Oundle
Renting and leasing of freight air transport equipment Stourbridge
Manufacture of watches and clocks Walthamstow
Manufacture of equipment for concrete crushing and screening and roadworks Rugby
Agents selling agricultural raw materials, livestock, textile raw materials and semi-finished goods in Wadebridge
Casting of light metals Brierley
Growing vegetables and melons, roots and tubers St Just-in-Penwith
Manufacture of men’s underwear Harlow
Transmission of electricity Cheadle
Retail sale of carpets, rugs, wall and floor coverings in specialised stores in Loughton
Agents involved in the sale of a variety of goods Colburn
Bookkeeping activities Axminster
Cargo handling for water transport activities Yeovil
Wholesale of electronic and telecommunications equipment and parts Keswick
Manufacture of other non-distilled fermented beverages Sturminster Newton
Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes Whittlesey
Manufacture of non-electronic measuring, testing etc equipment, not for industrial process control Peterlee
Finishing of textiles Wem

Typical loan-to-values of Virgin Money over 60 lifetime mortgages, Zurich pensioner mortgages over 55, Sainsburys mortgages over 65, Skipton Building Society interest only mortgages for over 60s near London, West Bromwich Building Society later life interest-only mortgages over 70 and Progressive Building Society later life borrowing schemes over 55 are 50%, 60% and 70%.

Does Penrith Building Society offer Pensioner Mortgages?

Yes, Penrith Building Society Pensioner Mortgages are 2.24% APR.

Aviva Lifetime Mortgages for Pensioners
Canada Life Landlord Voluntary Select Plan
L&G Legal & General Flexi Max Voluntary Repayment Plan
Liverpool Victoria LV Equity Release Plans
Lloyds Bank Equity Release Plans
TSB Equity Release
Just Retirement Drawdown Lifetime Mortgage
Liverpool Victoria LV Equity Release Plans
More 2 Life Capital Choice Plus Plan
TSB Equity Release Plans
Hodge Indexed Lifetime Mortgage
Just Retirement Equity Release Plans
Liverpool Victoria LV Equity Release Schemes
More 2 Life Tailored Choice Plan
Pure Retirement Classic Voluntary Payment Super Lite
Nationwide Interest Only Lifetime Mortgage
Equity Release Schemes
TSB Equity Release Plans
Saga Equity Release Plans
Hodge Lifetime Flexible Voluntary Repayment Plan
Liverpool Victoria LV= Lump Sum Plus Lifetime Mortgage
More to Life Flexi Choice Drawdown Lite Plan

Some of the most common loan to value ratios of LV= retirement interest only mortgages over 60, More 2 Life interest only mortgages for over the 60s near London, One Family interest only mortgages for over 65-year-olds, YBS pensioner mortgages over 60, Royal London remortgages for people over 50 years old and Sun Life later life mortgages for over 60s are 45%, 60% and 70%.

UK Equity Release Lenders and Mortgage for over 65

Legal and General
Saga
Bower
Maximum cover Equity Release

Popular loan-to-value ratios of Lloyds interest only lifetime mortgages for people over 60, Barclays Bank mortgages over 65, NatWest interest only mortgages for people over 60, Legal & General later life mortgages for over 60s, Bank of Scotland mortgages for pensioners over 60 and Nationwide lifetime mortgages for over 55s are 35%, 55% and 70%.

The mortgage lender will want to know if the property is a Freehold terraced or Leasehold house and if the resident is a Private Tenant.

Areas where Lifetime Mortgages are popular

Newhaven
Wimbledon
Broseley
Workington
Immingham
Thornbury
Blyth
Trowbridge
Nantwich
Uxbridge
Didcot

Does Penrith Building Society do Retirement Mortgages?

Yes, Penrith Building Society Retirement Mortgages are 5.19% APRC.

Does Penrith Building Society offer Equity Release Under 55?

Yes, Penrith Building Society Equity Release Under 55 is 1.94% APRC.

How much is it expected to release from a home?

The more aged you are and the sicker you are, the more cash you can release.

Appealing retirement finance offerings are Lloyds later life interest-only mortgages, NatWest interest-only mortgages for over 65-year-olds, Legal and General mortgages for over 70s and Nationwide BS interest-only mortgages for people over 70.