4.22% Halifax Equity Release for UK homeowners – free valuation

Halifax Equity Release standard mortgages
  • Release equity from your property with Halifax Equity Release
  • No monthly payments unless you want them and can afford them
  • No lenders fees
  • No product fees
  • Help your family with the equity you release
  • Continue to stay in your property
  • Release up to 70% of the value of your home

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  • Please enter a number from 5000 to 2000000000.
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RIO retirement interest only mortgages for people on a pension
5 Year Chart of 10 Year Interest Rates
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Halifax lifetime mortgages

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Halifax Equity Release plan
borrowing money family members money from your home inheritance protection
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Halifax Equity Release call
  • Your Requirements

  • Please enter a number from 5000 to 2000000000.
  • About You

  • By clicking Submit and ticking the box above you agree to be contacted by an FCA authorised advisor and confirm that you have read and agreed to our Terms & Conditions and our Privacy Policy.
RIO retirement interest only mortgages for people on a pension
halifax interest only mortgage rates

It is often found to discover people looking for lump sum lifetime mortgages, lump sum lifetime mortgages or lump sum lifetime mortgages. However, Bower like LV Liverpool Victoria is keen to see paperwork to show your circumstances in the form of pension statements.

Providers for the UK – two Equity Release options VS Halifax later life mortgages

  • Age Concern- a type of equity release that has no product fees
  • One Family – help your family on the property ladder
  • Age Concern release money with no fees
  • Pure Retirement to pay outstanding loan
Under 55 Home owner

Advantages of a Halifax lifetime mortgage vs a Halifax retirement interest only mortgage

Can help tax planning and interest rates are attractive. Help a family member buy their own home with a smaller mortgage or pay down your debts so you can spend more of your monthly income.

Equity Release percentages of your current property value

  • 60% monthly payment equity release Old Mutual Wealth – drawdown lifetime mortgage
  • 25% loan to value (LTV) lifetime mortgage with flexible drawdown cash release Central Trust
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Does Halifax offer Pensioner Mortgages and what are the Halifax retirement interest only mortgage rates?

Yes, Halifax Pensioner Mortgages are 2.22% MER.

The lender will want to know if the property is a Detached freehold house or a Leasehold house and if the resident is an Owner Occupier Primary Residence.

Taking Equity Release Scheme Lenders – Similar to Halifax interest only lifetime mortgage products

It’s common to find individuals searching for lump sum lifetime mortgages, lump sum lifetime mortgages or monthly payment equity release, however, Sun life Plans like Royal London Equity Release is eager to see proof of your situation in the form of investment statements.

  • Nationwide Interest Only Lifetime Mortgage how much equity can you get?
  • HSBC Equity Release Plans – not a reversion company
  • Halifax Equity Release Plans lending criteria
  • Age Partnership Equity Release Plans award winning service
  • Liverpool Victoria LV= Lump-Sum Plus Lifetime Mortgage
  • More to Life Capital Choice Plus Plan for new property
  • Halifax Interest Only Lifetime Mortgage for a big lump sum
  • Royal Bank of Scotland Interest Only Lifetime Mortgage including borrowing jointly
  • Bridgewater Equity Release – raise cash for financial freedom with flexible minimum age
  • Canada Life Voluntary Select Gold Flexi find out how much does equity release simply
  • Hodge Lifetime Mortgage Plus later life retirement planning
  • Pure Retirement Equity Release Plans personal circumstances with a cash reserve
  • Lloyds Bank Equity Release Schemes with no arrangement fees
  • Saga Equity Release Plans with no regular payments
  • Canada Life Voluntary Select Gold for smaller lump sums
  • Hodge Lifetime Mortgage Plus before long term care
  • L&G Legal & General Flexible Max Plus with no solicitors fees
  • More2Life Flexi Choice Drawdown Lite Plan with optional repayments like a regular mortgage
  • Halifax Equity Release Schemes UK not like a standard mortgage
  • Pure Retirement Classic Voluntary Payment Super Lite depending on your personal situation
  • Barclays Equity Release Plans with downsizing protection for a cheaper area
  • NatWest Equity Release for youngest homeowner home improvements
  • More to Life Flexi Choice Voluntary Payment Super Lite for the rest of your life

Downsides of Halifax Equity Release and Halifax Retirement Mortgages – Halifax release equity

A Halifax lifetime mortgage with flexible drawdown cash release can reduce the value of your estate. Halifax interest only lifetime mortgage may impact the ability to get state benefits. You may need to pay a broker’s fee, and you could be exposed to changes in interest rates with some products.  Release Equity In House Under 55 can be a great option for people that can’t get a secured loan.

Halifax Retirement Home Plan and the Halifax mortgage age limit

The Halifax Retirement Home Plan was a type of mortgage product that allowed retirees to combine the security of owning their home with the flexibility of monthly interest payments without the need to repay the capital until the property was sold. Although this product is no longer available to new customers, it represented a pioneering step in mortgage solutions for retirees.

The plan was designed to cater to the financial needs of those in retirement, acknowledging the challenge many retirees face in securing traditional mortgages due to their age and reduced income. The concept behind the Retirement Home Plan was to enable retirees to leverage the equity in their homes to support their lifestyle or to consolidate debts, thus providing financial flexibility during retirement.

Under the Halifax Retirement Home Plan, borrowers were required to pay the interest on their loan monthly, with the capital being repayable when the property was sold, typically on death or moving into long-term care. This arrangement helped many retirees maintain a comfortable standard of living by freeing up cash that would otherwise be tied up in their property.

While the Halifax Retirement Home Plan is a relic of past financial product offerings, it reflects the evolving landscape of retirement financing. Financial institutions continue to innovate, developing new products to meet the changing needs of the UK’s ageing population. For current options, retirees may consider other available products, such as Retirement Interest Only (RIO) mortgages or Lifetime Mortgages, which offer similar benefits and allow retirees to manage their finances more flexibly.

Equity Release Loan To Value – A Halifax lifetime mortgage

The more aged you are and the unhealthier you are, the more tax-free cash you can release with a Halifax lifetime mortgage.

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Does Halifax offer Retirement Mortgages or just a lifetime mortgage Halifax?

Yes, Halifax Retirement Mortgages are 2.22% APRC.

halifax interest only lifetime mortgage

Does Halifax do Equity Release Under 55 and retirement interest only mortgages Halifax?

Yes, Halifax Equity Release Under 55 is 2.22% APR. Also, a good deal is a Halifax retirement mortgage.

Write to the Halifax – Halifax lifetime mortgage and retirement interest only mortgages Halifax.

Please write to us at Halifax, PO Box 548, Leeds, LS1 1WU.

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Halifax Equity Release and retirement mortgages Halifax in 2024

The Halifax has a comprehensive range of lending products that could be used to remove the equity tied up in your home.

Does Halifax offer Lifetime Mortgages?

Yes, Halifax lifetime mortgages are at 2.22% APR. They also offer Halifax later life mortgages.

Does Halifax do equity release?

Yes, Halifax lifetime mortgages and other products to release equity can have a very low rate.

What is the downside to Halifax’s equity release plan?

Yes, the downsides are the roll up interest, but you can get retirement interest only mortgages Halifax where you support the interest on the loan with a monthly payment.

What does Martin Lewis think of Halifax’s equity release?

He advises caution with Halifax lifetime mortgages and Halifax later life mortgages

Is Halifax equity release ever a good idea?

Yes, it can be if you need to pay off an old mortgage that has come to the end of its term.

How does Halifax equity release work?

You apply for a product, get a home valuation and then they hopefully release the money.

Halifax mortgages for over 60s – Halifax interest only mortgage rates

Halifax offers a variety of mortgage options for individuals over the age of 60, catering to retirees who are looking for ways to either purchase a new property or release equity from their current home. These mortgage products include remortgaging options, retirement interest-only (RIO) mortgages, and lifetime mortgages.

The RIO mortgages available through Halifax for those over 60 come with a variable Mortgage Equity Rate (MER) of 3.7% and are designed to help retirees manage their finances by only requiring payment of the interest each month. This can significantly reduce monthly outgoings, as the principal loan amount is typically repaid from the sale of the property at a later date.

Additionally, Halifax offers lifetime mortgages with a fixed MER of 3.58%. These are a form of equity release scheme that allows borrowers to unlock the value of their property while retaining ownership. The loan, plus interest, is usually repaid from the sale of the property when the borrower dies or moves into long-term care.

Halifax retirement interest-only mortgages for individuals over 60 are set at a variable MER of 3.67%. These products are similar to RIO mortgages but tailored specifically for those in retirement, allowing them to manage their assets in a way that fits their retirement plans.

Those considering Halifax’s mortgage products must note that they offer competitive rates and conditions tailored to the older demographic. For instance, no early repayment charges after retirement age offer flexibility to the borrower should their circumstances change. The lender offers free valuations on properties, and their mortgage products for pensioners boast some of the lowest rates in the market, highlighting their approach to considering retirees as low-risk borrowers.

When deciding on a mortgage in later life, it is imperative to consider how it fits into one’s broader financial strategy, especially considering the implications for inheritance and the need for a reliable income stream to cover interest payments. It’s also advisable to consult with a financial adviser to ensure the chosen mortgage product aligns with the individual’s financial goals and retirement plans.

Halifax mortgages for over 70s – interest only mortgage Halifax

Halifax offers tailored mortgage solutions for individuals over 70, reflecting an understanding of the unique financial needs and circumstances that come with later stages in life. Mortgages for this age group include Retirement Interest Only (RIO) mortgages and lifetime mortgages, designed with features that accommodate the limited income and cash flow that often characterise retirement years.

For those over 70, a Halifax RIO mortgage could be particularly advantageous as it allows the borrower to pay only the interest monthly. This means the loan balance remains constant throughout the mortgage term, with the principal amount due only when the property is sold, typically upon the borrower’s death or moving into long-term care. This setup can result in significantly lower monthly costs, providing retirees with more liquidity to use for other expenses or enjoyments in their retirement.

Halifax also offers lifetime mortgages for those over 70, with competitive rates reported as 2.9% Annual Percentage Rate (APR) for January 2024. These products allow the borrower to release equity from their home in a lump sum or in smaller amounts over time, with no requirement to make monthly repayments. The debt is repaid from the home’s sale when the borrower dies or moves into permanent care.

Halifax’s interest rates and terms reflect their competitive positioning in the market, aiming to provide affordable and manageable mortgage options for the elderly. With no early repayment charges and flexible terms, Halifax mortgages for over 70s provide a pragmatic solution for managing finances without compromising the comfort of staying in one’s home. These mortgage options require careful consideration and advice from financial advisors to ensure they align with the borrowers’ long-term financial health and estate planning goals.