- Remove tax free equity from your house
- No need to make monthly payments
- Use the money you release for anything you like
- Continue to stay in your property
- Can be used to manage inheritance tax bills
Its common to encounter individuals looking for home reversion schemes, monthly payment lifetime mortgage or lumpsum lifetime mortgages, however, Age Partnership like LV Liverpool Victoria are keen to see evidence of your circumstances in the form of bank statements.
Providers for Equity Release
- Lifetime Mortgage from L&G
- Liverpool Victoria
Benefits of Equity Release Plans
Could be used to help tax planning and interest rates can be attractive. Use the money to keep another family member away from a high LTV mortgage or pay down your own debts so you have lower monthly outgoings.
Equity Release LTV
- 50% lifetime mortgage with flexible drawdown cash release Maximum cover Equity Release
- 50% loan to value lump sum lifetime mortgages Legal and General
- 25% loan to value (LTV) monthly payment equity release Clydesdale Bank PLC
The mortgage lender will want to know if the property is a Freehold house or a Leasehold flat with share of freehold and if the resident is an Owner Occupier Primary Residence.
UK Equity Release Providers
It’s usual to encounter people looking for home reversion plans, lump sum life time mortgages or monthly payment equity release, however, Key Retirement like Aegon are eager to see evidence of your personal circumstances in the form of pension statements.
- Bridgewater Equity Release Schemes
- Canada Life Equity Release
- More2Life Capital Choice Plus Plan
- Pure Retirement Equity Release
- Lloyds Bank Lifetime Mortgage
- NatWest Equity Release Schemes
- More2Life Flexi Choice Drawdown Lite Plan
- Just Retirement Equity Release Schemes
- Stonehaven Equity Release
- HSBC Equity Release Schemes
- Canada Life Lifetime Mortgage
- Liverpool Victoria LV= Flexible Lifetime Mortgage
- Nationwide Interest Only Lifetime Mortgage
- NatWest Lifetime Mortgage
- Age Partnership Lifetime Mortgage
- L&G Legal & General Premier Flexible Lifetime Mortgage
- Barclays Equity Release Schemes
- Royal Bank of Scotland Equity Release Plans
Pitfalls of Lifetime Mortgages
Home reversion plans can reduce your estate value. Home reversion schemes may impact ability to claim benefits. You may need to pay a solicitor’s fee and you could be exposed to changes in interest rates with some products.
Equity Release LTV Percentages
The more aged you are and the unhealthier you are the more cash you can release.