Release cash from your home with Equity Release for Underpinned homes
No regular monthly payments
Use the money for a motorhome or a new car
Do you still have a mortgage? We can help with that
Continue to live in your own home for as long as you like
They are often used to manage inheritance tax bills.

How much money can I borrow?

You can achieve 60% of your home’s valuation. For example, if your home is valued at £350000 you can release £210000.

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Living in a House While It’s Being Underpinned

Underpinning is a method of strengthening a property’s foundation. It is typically required when structural issues like subsidence affect the home’s stability. A common question for homeowners is whether they can remain in their property while it’s being underpinned. The answer largely depends on the extent of the underpinning required, the construction methods, and the property’s layout.

Can You Stay in a House During Underpinning?

In many cases, it is possible to live in a house while underpinning work is carried out, but this may involve certain inconveniences. Noise, dust, and restricted access to parts of the home are often expected. Those living in non-standard properties, such as single skin construction homes or modern timber frame houses, may face additional considerations due to the unique structural requirements of these buildings.

Understanding the Impact of Underpinning Completed 30 Years Ago

If a house was underpinned 30 years ago, it may still hold value and stability, but buyers and insurers may require documentation or updated surveys to confirm the long-term effectiveness of the work. Properties that have undergone underpinning can still sell successfully, especially when targeting niche buyer services like those interested in short lease flats above commercial properties or specialised buyers for BISF houses.

Challenges of Selling a Property with Past Underpinning

Properties with underpinning history can attract specific buyers, though the resale process might involve additional inspections or warranties. For homeowners looking to sell a short lease flat quickly or market a property near power infrastructure, like houses near electrical pylons, the presence of past underpinning can sometimes require extra due diligence.

Insurance and Financing for Underpinned Homes

Insurance and mortgage providers may view underpinned properties as higher risk, depending on the circumstances. Homeowners might find it beneficial to work with brokers who specialise in properties with unique requirements, whether they are selling an underpinned BISF house or shared ownership flats without EWS1 certification.

Overall, living in a house while it’s being underpinned is often feasible, though careful planning is necessary to ensure safety and minimise disruptions. With the right approach, underpinned properties can still attract buyers interested in unique housing types, whether the underpinning was recent or completed decades ago.

Non-Standard Property Home Index

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Disadvantages of Lifetime Mortgages

A lifetime mortgage with a flexible drawdown cash release can reduce the value of your estate. A monthly payment lifetime mortgage may impact entitlements to benefits. You may need to pay a solicitor’s fee and some products expose you to changes in interest rates.

Aviva Lifetime Mortgages

Canada Life Lifetime Mortgages

Equity Release percentages of your current property value

55% monthly payment lifetime mortgage LV Liverpool Victoria
50% loan to value (LTV) home reversion plans Legal and General
25% LTV monthly payment lifetime mortgage Central Trust
30% loan to value interest-only lifetime mortgages Saffron Building Society
60% LTV monthly payment lifetime mortgage Aviva
25% LTV monthly payment equity release Evolution Money

Challenging to mortgage property variants can include properties with legal agreements such as Overage, Clawback, Option, Pre-emption, or any onerous Restrictive Covenant, high service charges – properties where the Service Charge per annum at the time of application is more than 2% of the property value, properties where there are boundary disputes or where planning applications have not been applied for correctly, mundic homes and Airey, Boot, Cornish Unit, Dorran, Dyke, Gregory, Hamish Cross, Myton, Newland, Orlit and Parkinson Frame.

What percentage can be released?

The more aged you are and the more illnesses you have, the more tax-free cash you can release.

Understanding Underpinning and Subsidence in the UK Property Market

Owning a home or investing in property in the UK is no small feat. With the changing climate and other factors, properties are more susceptible to subsidence. Underpinning, often seen as the solution, is a remedial process that strengthens the foundation of an existing building. As we venture into subsidence and underpinning, we’ll touch on costs, concerns, insurance implications, and other factors.

Subsidence in the UK: An Overview

Subsidence occurs when the ground beneath a property starts to sink, causing the building to move. The result can be visible cracks in walls, especially around windows and doors. This is more frequently observed in subsidence in terraced houses due to their shared foundation. The causes vary, from clay soil contraction and leaking drains to tree roots drawing moisture from the ground.

The Process of Underpinning

Underpinning is one of the primary solutions to subsidence. It involves excavating sections beneath the current foundation and pouring concrete in stages. The result is a deeper, more stable foundation. There are variations to this method, such as piling underpinning, resin underpinning, and mass concrete underpinning. Each has its advantages and challenges.

Resin Injection Underpinning

A modern alternative to traditional methods, resin injection underpinning involves injecting an expansive resin material into the ground beneath a building. This can lift a property, realigning its structure. However, there have been problems with resin underpinning, with some reporting that it doesn’t offer a long-term solution in all cases. It’s essential to consider the cost of resin injection underpinning and compare it with its benefits and potential issues. Notably, the resin injection underpinning cost UK can vary based on the property’s location and the severity of subsidence.

Costs Involved with Underpinning

The underpinning cost is among the first concerns homeowners face when confronted with subsidence. On average, the cost of underpinning a house UK can be significant, but it varies based on the method chosen and the property’s size. Homeowners often ask, “How much does underpinning cost?” or “What’s the underpinning costs per metre UK?”. To give a ballpark figure is challenging, but it’s not uncommon for costs to range from £1,000 to £3,000 per metre, sometimes more.

Insurance and Underpinning

One of the primary concerns regarding underpinning is its implications on insurance. Properties that have been underpinned often face higher insurance premiums. Underpinned house insurance is a niche, with many mainstream insurers reluctant to offer coverage. However, specialist providers do offer insurance for underpinned house properties, albeit at a higher rate.

Selling and Buying Underpinned Properties

The process of buying or selling an underpinned property comes with its set of challenges. Can you sell a house with subsidence? Yes, but it can be more complicated than selling a house without such issues.

Buying a House with Subsidence

Buying a house with subsidence or even buying a house with structural movement can be nerve-wracking. There’s always the lingering question: “Should I buy a house with structural movement?” Prospective buyers need to be well informed. Houses that have been underpinned properly and have a valid underpinning guarantee for a considerable duration (often 10-20 years) can still be a safe bet. However, it’s crucial to get a comprehensive property survey.

Selling an Underpinned House

Selling an underpinned house can be a bit challenging. While the property might be stable post-underpinning, potential buyers can be wary. It’s essential to have all paperwork in order, although there have been instances of underpinning no paperwork. If a house underpinned 30 years ago comes with proper documentation showing no recent issues, it might be more appealing to buyers.

Challenges in Underpinning –

Underpinning is not a quick fix. The underpinning contractor plays a vital role in ensuring the process is seamless. But questions like “How long does underpinning take?” and “Can you live in a house while it is being underpinned?” often arise. The process can take weeks to months, and while some homeowners choose to stay, others might find it more convenient to relocate temporarily.

Looking at Properties in Need of Repair

The UK market often has houses in need of repair for sale. While these can be investment opportunities, they also come with risks. If a house shows signs of subsidence, a thorough inspection is crucial. While the cost to fix subsidence can be high, sometimes the reduced property price can offset these expenses.

The Impact of Subsidence on Property Value – mortgage refused due to mine shaft

How much does subsidence devalue a property? It’s a pertinent question. Properties with a history of subsidence can see a reduction in their market value. However, the degree of devaluation often depends on the severity of subsidence, the effectiveness of the underpinning process, and the property’s location.

London wall lending equity release

The challenges posed by subsidence and the subsequent need for underpinning are daunting for UK homeowners. The costs, both immediate and in terms of property value and insurance, can be significant. However, with the right information, expert assessments, and careful decision-making, it’s possible to navigate these challenges successfully. Whether you’re buying, selling, or simply concerned about your property’s structural health, being informed is the key.

Tough-to-finance property titles include flats of less than 30 square metres in any location, properties with a large number/scale of outbuildings, use of the land and any outbuildings for a small amount of personal, commercial use., properties with mobile phone masts which are not within influencing distance of the house and properties which have been built on a previously contaminated land are acceptable provided the result of an environmental search determines the land to be clear of contamination.

Difficult to mortgage property types can include properties with post-1945 asbestos or similar composition roof tiles , properties with any externally applied insulation to the walls after construction, properties constructed or converted within the past 10 years, freehold/feuhold flats (Scotland only) and privately developed flats in blocks of three or four storeys without a lift.

Release Equity In House Under 55

Hard to mortgage home types can include poorly maintained at the time of the valuation inspection, entirely tenanted properties, leasehold properties where the lease length is currently unacceptable, crofted houses and properties with single skin brickwork.

What are Swansea Building Society interest rates for equity release?

Swansea Building Society interest rates for equity release are 2.12% APR.

The lender will want to know if the property is a Freehold terraced or Leasehold house and if the resident is an owner-occupier.

More 2 Life Flexi Choice Drawdown Lite Plan
L&G Legal & General Premier Flexible Lifetime Mortgage
More to life Capital Choice Plan
Lloyds Bank Equity Release Plans

TSB Lifetime Interest Only Mortgage
NatWest Equity Release
Royal Bank of Scotland Equity Release Schemes
Saga Lifetime Mortgage
Age Partnership Equity Release Schemes
Bridgewater Lifetime Mortgage
Canada Life Equity Release Plans
More to life Capital Choice Plan
Hodge Indexed Lifetime Mortgage
Just retirement equity release key features
Liverpool Victoria LV Equity Release Schemes
More 2 Life Flexi Choice Voluntary Payment Super Lite
Pure Retirement Equity Release
NatWest Equity Release
Aviva Lifetime Mortgages
Just Retirement Equity Release
Liverpool Victoria LV= Flexible Lifetime Mortgage
More to Life Capital Choice Plan
Age Partnership Equity Release

Does Swansea Building Society do Equity Release?

Yes, the Swansea Building Society Equity Release is 1.92% APRC.

Common LTV percentages of Virgin Money over 60 lifetime mortgages no fees, Zurich interest only lifetime mortgages for people over 60, Churchill equity release schemes for over 55’s, Principality Building Society mortgages over 65, Nottingham Building Society interest only lifetime mortgages for over 70s and National Counties Building Society lifetime mortgages for over 60s are 35%, 60% and 70%.

Small business owners detail likely with equity to release

Manufacture of other textiles n e c Colchester
Activities of construction holding companies Hinckley
Manufacture of pesticides and other agrochemical products Halesworth
Manufacture of bread; manufacture of fresh pastry goods and cakes Farnborough

Does Swansea Building Society offer Pensioner Mortgages?

Yes, Swansea Building Society Pensioner Mortgages are 2.3% APRC.

Some of the most common LTV ratios of Liverpool Victoria interest only mortgages for people over 60, More to Life equity release schemes for over 55’s, One Family interest only lifetime mortgages for over 60s, YBS interest only lifetime mortgages for people over 60, Principality Building Society mortgages for over 50 year olds and SunLife later life borrowing schemes over 55 are 40%, 60% and 70%.

UK Equity Release Scheme Providers

Key Solutions
Santander
Bower

Does Swansea Building Society offer Retirement Mortgages?

Yes, Swansea Building Society Retirement Mortgages are 1.89% APRC.

Some of the most popular loan-to-value percentages of Lloyds retirement interest-only mortgages over 60, Barclays interest-only lifetime mortgages for over 60s, Post Office retirement mortgages over 60, Legal & General later life mortgages for over 60s, RBS lifetime mortgages for over 60s and Nationwide BS interest only mortgages for over 60s are 35%, 55% and 65%.

Does Swansea Building Society offer Equity Release Under 55?

Yes, Swansea Building Society Equity Release Under 55 is 2.2% APRC.

It’s common to encounter individuals searching for interest-only lifetime mortgages, lump sum lifetime mortgages or home reversion plans, however, Just Retirement like AA equity release are keen to see paperwork to show your situation in the form of bank statements.

Towns of the UK where equity release is popular

Attleborough
Leyton
Halesowen
Mildenhall
Chatham
Witney
Lechlade
Waltham Cross
Basingstoke
Keynsham
Hayle
Heywood
Cheltenham
Southwick
Thatcham
Nuneaton

Popular pensioner mortgage products include TSB later life borrowing schemes, Barclays over 60-lifetime mortgages, Post Office pensioner mortgages, L&G lifetime mortgages and Nationwide BS later life borrowing schemes.

Does Swansea Building Society do Lifetime Mortgages?

Yes, Swansea Building Society does lifetime mortgages at 2.29% APRC. Swansea Building Society Lifetime Mortgages can have a loan to value (ltv) of 60%.

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