- Remove tax-free equity from your property
- No monthly repayments
- Use the money for anything you like
- Still, have some mortgage outstanding? No problems
- Stay living in your property
It’s often found to encounter individuals looking for monthly payment lifetime mortgage, interest-only lifetime mortgages or interest-only lifetime mortgages. However, Key Retirement like VitalityLife Equity Release are keen to see proof of your circumstances in the form of pension statements.
Providers for Equity Release
- Just Retirement
Advantages of Interest Only Lifetime Mortgages
Often used as a vehicle to reduce tax bills and interest rates on the money can be appealing. A low-cost way of helping the family to buy their own home or pay off your debts like loans and credit cards, so you have more monthly disposable income.
How much is it common to release from a home
- 55% monthly payment lifetime mortgage Maximum cover Equity Release
- 25% LTV lifetime mortgage with flexible drawdown cash release Evolution Money
- 50% loan to value (LTV) lifetime mortgage with adjustable drawdown cash release 1st Stop Home Loans
- 30% LTV home reversion plans Earl Shilton Building Society
The lender will want to know if the property is a Freehold terraced house or a Leasehold flat and if the resident is an Owner Occupier Primary Residence.
Providers for UK Equity Release
It’s common to find individuals looking for home reversion plans, lump sum lifetime mortgages or monthly payment equity release, however, Key Retirement like Zurich are eager to see evidence of your situation in the form of pension statements.
- Hodge Lifetime Mortgage Plus
- More2Life Flexi Choice Voluntary Payment Super Lite
- Lloyds Bank Equity Release Schemes
- TSB Equity Release
- Barclays Equity Release Plans
- NatWest Equity Release
- Liverpool Victoria LV Equity Release Plans
- Lloyds Bank Equity Release
- L&G Legal & General Flexible Lifetime Mortgage
- Pure Retirement Equity Release Plans
- Nationwide Interest Only Lifetime Mortgage
- Barclays Equity Release Schemes
- Saga Lifetime Mortgage
- Canada Life Prestige Flexi Option
- Just retirement equity release key features
- L&G Legal & General Flexible Plus Lifetime Mortgage
- Pure Retirement Equity Release Schemes
- Nationwide Equity Release Plans
- HSBC Equity Release Schemes
- NatWest Interest Only Lifetime Mortgage
- Royal Bank of Scotland Lifetime Mortgage
- Saga Equity Release Plans
Drawbacks of Home Reversion Plans
Interest-only lifetime mortgages can reduce the value of your estate. Lifetime mortgage with flexible drawdown cash release may impact the ability to claim entitlements. You may need to pay a valuation fee, and you could be exposed to changes in interest rates with some products.
Equity Release percentages of your current property value
The more elderly you are and the sicker you are, the more money you can release.