- Remove tax-free money from your property
- No monthly repayments
- Use the cash for anything you like
- Still have a few more mortgages payments to make? No problems
- Continue to stay in your house for as long as you like
Customer Testimonials
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.
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.
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.
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.
Mr Smith from Kendal
My financial advisor told me that I should get equity release and gift money to my 5 children now as it would save a massive amount of inheritance tax.
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.
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.
It’s common to discover individuals looking for lump sum lifetime mortgages, lumpsum lifetime mortgages or interest-only lifetime mortgages, however, More2Life like Aegon are keen to see proof of your circumstances in the form of investment statements.
UK Lenders for Equity Release
- Key Retirement
- Bridgewater
- Aviva
The mortgage lender will want to know if the property is a Freehold terraced house or a Leasehold flat with share of freehold and if the resident is an AST Tenant.
Pitfalls of Home Reversion Schemes
A monthly payment lifetime mortgage can reduce your estate value. A monthly payment lifetime mortgage may impact entitlements to state benefits. You may need to pay a broker’s fee and you could have higher rates to pay with some schemes.
- Bridgewater Equity Release
- HSBC Equity Release Plans
- Aviva Flexible Voluntary Repayment Plan
- Canada Life Voluntary Select Gold
- More2Life Flexi Choice Drawdown Lite Plan
- L&G Legal & General Flexible Max Scheme
- More to Life Capital Choice Plan
- NatWest Equity Release Schemes
- Hodge Indexed Lifetime Mortgage
- More 2 Life Capital Choice Plan
- Pure Retirement Classic Voluntary Payment Super Lite
- Stonehaven Lifetime Mortgage
- Lloyds Bank Equity Release Plans
- TSB Lifetime Interest Only Mortgage
- NatWest Interest Only Lifetime Mortgage
- Age Partnership Equity Release Schemes
- Bridgewater Equity Release
- Hodge Lifetime Flexible Drawdown Plan
- Just retirement equity release lifetime mortgages
How much is it common to release from a home
The more elderly you are and the more illnesses you have you are the more cash you can release.
- Natwest Pensioner Mortgage Reviews
- Best Equity Release
- Bank Of Scotland Equity Release Reviews
- Modern Timber Frame Over 60 Mortgage
- Lifetime Mortgages Interest Only
- Cambridge Bs Lifetime Mortgages
- Rbs Lifetime Mortgage Interest Only
- Derbyshire Building Society Allenton
- West Bromwich Building Society Interest Only Lifetime Mortgage
- Natwest Equity Release Advice
- Lloyds Bank Equity Release
- Hodge Lifetime Over 75 Mortgage
- Barnsley Building Society Equity Release Calculator
- Marsden Building Society Over 75 Mortgage
- Santander Retirement Mortgage Broker
- Gloucester Building Society Pensioner Mortgage
- Can I Get Equity Release On My Spanish Property
- Buckinghamshire Building Society Equity Release Interest Rates
- Overhead Electric Cables To House
- Single Skin Brickwork Retirement Mortgage
- Liverpool Victoria Equity Release Broker
- Harpenden Building Society Over 60 Mortgage
- Self Certified Mortgages Spain
- Short Lease Mortgage Providers
- Halifax Lifetime Mortgage
- Dbs Darlington
- Equity Release On Studio Flat
- Lifetime Mortgage Arrangement Fee
- Mortgages For 60 Plus
- Monmouthshire Building Society Retirement Mortgage
- 55 Mortgage
- Manchester Building Society Over 65 Mortgage
- Lloyds Bank Pensioner Mortgage Bad Credit
- Mortgages For Pensioners Nationwide
- Skipton Building Society Pensioner Mortgage
- Nationwide Equity Release Best Deals
- Leeds Building Society Retirement Mortgage
- Equity Release Belfast Calculator
- Saffron Building Society Equity Release
- Hsbc Over 65 Mortgage
- Lloyds Bank Lifetime Mortgage Reviews
- Concrete Construction Houses
- Hanley Economic Building Society Interest Only Mortgage
- Lloyds Lifetime Mortgage Reviews
- Stafford Railway Building Society Interest Only Mortgage
- Loughborough Building Society Equity Release Interest Only
- Market Harborough Building Society Over 75 Mortgage
- Lv Equity Release Best Rates
- Lg Over 75 Mortgage
- Santander Equity Release Best Deals
- Santander Pensioner Mortgage
Areas in the UK where retirement mortgages are popular
- Charlbury
- South Woodham Ferrers
- Loftus
- Cleethorpes
- Leek
- Mere
- Askern
- Warwick
- Brampton
- Northampton
- Tipton
- Birchwood
- Redhill
- Partington
- Stamford
- Stevenage
- St Mawes
- Wigan
Small business owners detail likely with equity to release
- Agents specialized in the sale of other particular products Chorleywood
- Growing of fibre crops Adlington
- Distilling, rectifying and blending of spirits Cricklade
- Manufacture of condiments and seasonings Hebden Royd
- Extraction of natural gas Loughborough
- Other urban, suburban or metropolitan passenger land transport not underground, metro or similar Amble
- Wholesale of petroleum and petroleum products Stonehouse
- Treatment and disposal of non-hazardous waste Rugby
- Manufacture of plastics and rubber machinery Ashford
- General secondary education Stretford
- Renting and leasing of freight air transport equipment Stapleford
- Production of meat and poultry meat products Malmesbury
- Support services to forestry Craven Arms
- Foreign affairs Whitehaven
- Non-life insurance Cheadle
- Motion picture projection activities Raunds
- Tanning and dressing of leather; dressing and dyeing of fur Watlington
- Gathering of wild growing non-wood products Liskeard
What percentage can be released?
- 50% lifetime mortgage with flexible drawdown cash release Maximum cover Equity Release
- 50% loan to value monthly payment lifetime mortgage Key Solutions
- 30% loan to value interest-only lifetime mortgages Evolution Money
- 60% loan to value monthly payment equity release Key Retirement
- 25% loan to value monthly payment equity release Equifinance
- 50% LTV monthly payment lifetime mortgage Precise
Vernon Building Society Product name: Retirement Mortgage Capital repayment or interest-only? Both available. Vernon also offers an offset retirement mortgage, which allows you to release additional equity and potentially only pay interest on part of it. For example, say you wanted to take £50,000 equity out of your home but only wanted to access £20,000 right away. The remaining £30,000 would be placed into offset savings account until you needed it, and you’d only pay interest on the £20,000 (plus your remaining mortgage balance). The offset account is instant access, meaning you can withdraw the money at any time. Any amount you subsequently withdraw will be added to the sum that you pay interest on.
Find out more about offset mortgages. Minimum property value: £80,000. Minimum/Maximum loan sum: £25,000/£250,000. Maximum LTV: 50%. Minimum/Maximum age at application: 55 Minimum, no max. Minimum income: none, though you’ll need to be able to prove you can afford the interest payments. Mortgage term: Vernon says that these products are most suitable for those who will be aged 85 and over when the mortgage term ends. The Minimumimum term is usually five years and the term can run until you die. Overpayments: all deals allow unlimited overpayments, though some will have ERCs if you pay off more than ten per cent extra per year. How is the loan repaid? Some of Vernon’s mortgages have no early repayment charges, meaning you can pay off the loan in full whenever you want. If necessary, the loan can be repaid through the sale of your property when you die or move into long-term care.
