It’s common to encounter people looking for home reversion plans, monthly payment lifetime mortgage or interest-only lifetime mortgages, however, Key Retirement like Aegon are keen to see proof of your circumstances in the form of investment statements.
Can be a vehicle to reduce tax bills and interest rates are attractive. Use the money to keep another family member away from a high loan to value mortgage or pay down your own debts so you have lower monthly outgoings.
The mortgage lender will want to know if the property is a Detached freehold house or a Leasehold flat with share of freehold and if the resident is an AST Tenant.
It’s very regular to discover people looking for lump sum lifetime mortgages, lumpsum lifetime mortgages or home reversion plans, however, Age Concern like Royal London Equity Release are eager to see evidence of your situation in the form of investment statements.
Lump sum lifetime mortgages can reduce the value of your estate. Lifetime mortgage with flexible drawdown cash release may impact entitlements to benefits. You may need to pay a solicitor’s fee and you could have higher rates to pay with some schemes.
The older you are and the more illnesses you have you are the more tax-free cash you can release.
YBS have many lending products. Some are suitable for people that are interested in removing equity from their home.
Yorkshire Building Society is a member of the Building Societies Association and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Yorkshire Building Society is entered in the Financial Services Register and its registration number is 106085.
References to ‘YBS Group’ or ‘Yorkshire Group’ refer to Yorkshire Building Society, the trading names under which it operates (Chelsea Building Society, the Chelsea, Norwich & Peterborough Building Society, N&P and Egg) and it’s subsidiary companies.
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