3.64% APRC Retirement Advantage Equity Release – Free Valuation 2024

Retirement Advantage Equity Release
  • Remove tax-free equity from your house with Retirement Advantage Equity Release
  • No monthly payments
  • No lenders fees
  • No product fees
  • Use the cash to pay off loans and credit cards
  • Continue to stay in your house
  • 3.64% APRC fixed for life
  • Free valuation

How much can I borrow?

You can get 65% of your property’s valuation. For example, if your house is worth £290,000 you can borrow £188,000.

  • Your Requirements

  • 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
5 Year Chart
Home equity

Does Retirement Advantage offer Pensioner Mortgages?

Yes, Retirement Advantage Pensioner Mortgages are 2.64% APRC.

It is often found to find individuals seeking out a lifetime mortgage with flexible drawdown cash release, interest-only lifetime mortgages or lump sum lifetime mortgages, however, Legal and General like Old Mutual Wealth are keen to see paperwork to show your personal situation in the form of pension statements.

Lenders for UK Equity Release

  • the Telegraph
  • Santander
  • Key Retirement

Applications of Equity Release Schemes

Often used to help tax planning and interest rates can be quite low. Low rate way of helping the family to buy their own home or pay off their own debts like loans and credit cards so they have more monthly disposable income.

Equity Release LTV Percentages

  • 55% monthly payment lifetime mortgage Zurich
  • 40% loan to value (LTV) lump sum lifetime mortgages Pepper
  • 30% LTV home reversion schemes Step One Finance

Do Retirement Advantage do Retirement Mortgages?

Yes, Retirement Advantage Retirement Mortgages are 2.64% APRC.

The 1st and 2nd charge lenders will want to know if the property is a semi-detached freehold house or a Leasehold flat with a share of freehold and if the resident is a Private Tenant.

UK Equity Release Lenders as well as Retirement Advantage Equity Release

It is common to discover people seeking out interest-only lifetime mortgages, lump sum lifetime mortgages or home reversion plans, however, Bower like Aegon is eager to see evidence of your circumstances in the form of bank statements.

  • Aviva Lifetime Mortgages
  • Bridgewater Lifetime Mortgage
  • Stonehaven Equity Release
  • Retirement Advantage Equity Release
  • Royal Bank of Scotland Interest Only Lifetime Mortgage
  • More2Life Capital Choice Plan
  • Bridgewater Lifetime Mortgage
  • Canada Life Lifestyle Gold Flexi
  • Pure Retirement Classic Voluntary Payment Super Lite
  • HSBC Interest Only Lifetime Mortgage
  • Lloyds Bank Equity Release Schemes
  • Bridgewater Equity Release
  • Hodge Equity Release Plans
  • L&G Legal & General Flexible Lifetime Mortgage
  • Nationwide Interest Only Lifetime Mortgage
  • Lifetime Interest Only Mortgage
  • Barclays Equity Release
  • NatWest Interest Only Lifetime Mortgage
  • More to Life Capital Choice Plus Plan
Homeowner in their 70s
hitachi interest only retirement mortgage



Does Retirement Advantage offer Equity Release Under 55?

Yes, Retirement Advantage Equity Release Under 55 is 2.64% APR.

Disadvantages of Retirement Advantage Equity Release Plans

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 an advisor’s fee and some products expose you to changes in interest rates.

Equity Release percentages of your current property value

The older you are and the more illnesses you have you are the more cash you can release.


Does Retirement Advantage offer Lifetime Mortgages?

Yes, Retirement Advantage does lifetime mortgages at 2.64% MER.

Retirement Advantage, known for its equity release products, has been rebranded as Canada Life. Despite the change in branding, the essence of the products and services offered continues to focus on providing financial solutions for older homeowners. These include a range of mortgages tailored to those at or approaching retirement age, offering them ways to release equity from their properties while remaining in their homes.

Retirement Advantage Rates and Interest Rates
The interest rates offered by the firm, now under the Canada Life brand, remain a critical factor for customers considering equity release. These rates determine the cost of the loan over time and are a key consideration in the decision-making process. The competitive retirement advantage rates are designed to be attractive to those on fixed retirement incomes, ensuring that the products are both accessible and financially manageable in the long term.

Retirement Advantage Equity Release Calculator
For those exploring the option of equity release, the Retirement Advantage Equity Release Calculator serves as an essential tool. It allows potential customers to estimate the amount of equity they could release from their homes, providing a crucial starting point for financial planning in retirement.

Retirement Advantage Mortgages for the Over 50s
The firm has carved out a niche in providing retirement advantage Mortgages Over 50, understanding that the financial needs and goals of this demographic can differ significantly from those of younger homeowners. These products are designed with flexibility in mind to accommodate the various financial scenarios faced by those in this age bracket.

Retirement Advantage RIO Mortgages
The retirement advantage RIO (Retirement Interest Only) Mortgages were particularly popular among homeowners over 55, allowing them to service just the interest on their loan for as long as they remain in their home. The loan itself is repaid when the property is sold, providing a balance between affordability and equity retention.

Interest Only Mortgages and Pensioner Mortgages
In addition to RIO mortgages, retirement advantage also offered Interest Only Mortgages and Pensioner Mortgages. These products were aimed at providing pensioners with mortgage options that take into account the potential for limited income streams during retirement.

Retirement Mortgages for Different Age Groups
The suite of products extended to cover various age milestones, including retirement advantage Mortgage Over 55, Mortgages Over 60, mortgages Over 65, mortgages Over 70, and mortgage Over 75. These products were designed to cater to the financial circumstances typically associated with each age group, offering tailored solutions to each.

Retirement Advantage Later Life Mortgages
The Later Life Mortgages were a part of the product line that offered additional financial options for those in later life stages, enabling customers to potentially use their property to support their retirement lifestyle, fund care costs, or provide financial assistance to family members.

Retirement Advantage Remortgage Options
For those over 60 looking to remortgage, retirement advantage provides Remortgage over 60 options, allowing individuals to potentially secure more favourable terms or release additional equity from their homes.

Inclusive Lending Practices

The company was noted for its inclusive lending practices, which included no upper age limit on their mortgage products. This policy was particularly beneficial for older borrowers, offering an inclusive approach to those in the 50 plus, 55 plus, 60 plus, 65 plus, and 75 plus age brackets.

Special Considerations for Older Borrowers

For older borrowers who may have faced challenges with credit in the past, retirement advantage had measures in place that could accommodate those with a bad credit history or those looking for products that may not require a credit check.

Seeking Professional Advice

The importance of seeking professional advice was always emphasised by retirement advantage, in line with guidance from experts like Martin Lewis, the Money Saving Expert. The firm advised consulting with a qualified broker or advisor to ensure that customers make informed decisions that best suit their circumstances.

Customer Experiences and Reviews

The customer reviews of retirement advantage products typically highlighted the company’s understanding of the unique needs of older homeowners. Clients often praised the clear communication and the comprehensive advice provided by the firm’s advisors, noting that it helped them to navigate the complexities of equity release.

While some customers noted the long-term financial implications of equity release as a concern, particularly about interest accumulation and inheritance considerations, many expressed satisfaction with the financial freedom and peace of mind the products afforded them.

Although retirement advantage as a brand has transitioned to Canada Life, the legacy of its equity release products continues to influence the offerings available to older homeowners today. The rebranded company maintains a commitment to providing financial solutions that cater to the needs of those in retirement, ensuring that the ethos of retirement advantage lives on in the current product offerings.