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Age Concern Equity Release Over 60 Plans – 4.47% MER – Free Valuation – Updated For 2023

age concern equity release calculator
  • Release equity from your house with the help of Age Concern Equity Release
  • Free property valuation
  • No regular monthly payments unless you want to pay just interest
  • Use the money for home improvements or anything else you need
  • No early repayment charges
  • Still, have some mortgage outstanding? No problems
  • Continue to live in your own house
  • No product fees
  • No lender fee

How much money can I get in 2024?

You can borrow 60% of your home’s value. As an example, if your home is valued at £330,000 you can get £198,000.

  • Your Requirements

  • About You

Recent Reviews

age concern equity release

William from Birmingham

My son knew a guy who owned 6 pubs. Because of successive lockdowns due to covid 19 coronavirus, he had to do a quick sale on his holiday home in Cornwall.

My equity release money bought his flat at 35% under market value and not only does my family have the shared use of a holiday home, but the rental income is also much more than the interest on the equity release.

retirement interest-only mortgages

Mr Howarth from Leeds

I am healthy and have a good income from my pensions for later life. I decided to release money from my unencumbered home with a retirement interest-only mortgage (RIO mortgage), so I could get a new kitchen and bathroom and give money to my children so they could move house and buy bigger homes.

I did not have any problems with a minimum or maximum age requirement or affordability. The interest rate was very low like a prime conventional mortgage from a bank or building society.

The monthly payment was tiny compared with the rest of my outgoings. The whole process was authorised and regulated by the finance conduct authority.

age uk equity release

Mrs Yardly from Sheffield

I had an old, tired car and a very unreliable central heating system. Repair bills continually mounted up meaning I had less money to spend on holidays and other nice things. A friend said I should consider equity release, but I was put off by the horror stories of the roll-up/compounded interest destroying people’s homes.

When I did my own homework, I found in 2024 equity release interest rates were very low and the negative press was around people who had been ripped off with high rates in the past. Even if my house price only went up a little the roll-up interest would be covered.

The equity release enabled me to get a nice 3-year-old car and a new boiler, so I was not wasting money all the time on repairs!

age solutions equity release

Mrs Heart from Aberdeen

I was struggling to pay my mortgage and had no money left at the end of the month for emergencies, let alone saving for a holiday. I had investigated home reversion plans, but they did not appear to be the right solution. Equity Release for older borrowers with no monthly repayments was exactly what I wanted, and the interest rate was very low.

I was able to pay off my mortgage. I live in an area where house prices are going up nicely so keeping 100% ownership of my own home is wise. I am confident that my house price appreciation will be much bigger than my roll-up interest.

age concern equity release calculator

Mr Shaw from Bradford

I thought I was going to have to sell my home to pay back my mortgage as the bank wanted their money back. With the money left, I could only afford a flat and I would have been further away from my daughter and her children. Downsizing was a bad idea for me.

My lifetime mortgage was ideal for me as I had no monthly repayments and I paid off my old mortgage. I saved the cost of moving to a new flat where I would pay to move to a place I did not want. The no negative equity guarantee and equity release council assurances were very important to me. I am better off each month and have some tax-free cash ready if repairs to the house are necessary.

age uk equity release fact sheet
minimum age for age concern Cash tied up in home
age partnership fees retired pensioner remortgage

Does Age Concern offer Equity Release?

Yes, Age Concern Equity Release is 4.1% APRC.

Under 55 Homeowner age concern equity release schemes
  • Your Requirements

  • About You

UK Age Concern equity release schemes

It’s very regular to discover individuals seeking out interest-only lifetime mortgages, home reversion plans, or home reversion schemes. However, Key Retirement like LV Liverpool Victoria is keen to see evidence of your situation in the form of bank statements.

Equity Release LTV with Age Concern

The more aged you are and the unhealthier you are, the more money you can release

Lenders for UK age concern equity release schemes

  • Crown
  • Key Retirement

Equity Release Loan Value Examples from Other Lenders

  • 50% lump sum lifetime mortgages Zurich
  • 35% loan to value (LTV) monthly payment lifetime mortgage Step Change
  • 25% LTV lifetime mortgage with flexible drawdown cash release Family Building Society
  • 60% LTV age concern equity release schemes
  • 55% age concern equity release calculator

The lender will want to know if the property is a Freehold house or a Leasehold flat and if the occupier is a Private Tenant.

Does Age Concern offer Pensioner Mortgages?

Yes, Age Concern Pensioner Mortgages are 4.07% MER.

UK Equity Release Providers like Age Concern

It is very regular to encounter people looking for interest-only lifetime mortgages, monthly payment lifetime mortgages or home reversion schemes, however, Sunlife Plans like Legal & General are eager to see evidence of your situation in the form of bank statements.

age equity release calculator
  • More to Life Flexi Choice Voluntary Payment Super Lite minimum age for equity release
  • L&G Legal & General Flexible Plus Lifetime Mortgage
  • HSBC Lifetime Mortgage age concern
  • Hodge Indexed Lifetime Mortgage
  • L&G Legal & General Premier Flexible Lifetime Mortgage
  • More to Life Flexi Choice Drawdown Lite Plan
  • More to Life Tailored Choice Plan
  • Age Partnership Equity Release
  • age concern equity release schemes
  • Age concern equity release calculator
  • Liverpool Victoria LV Equity Release
  • Age UK equity release plans
  • Nationwide Equity Release Plans
  • HSBC Equity Release Plans
  • Lloyds Bank Equity Release Plans
  • Hodge Equity Release Plans
  • Liverpool Victoria LV Equity Release Schemes
  • More to Life Capital Choice Plan
  • Pure Retirement Lifetime Mortgage
  • Nationwide Equity Release Schemes
  • age concern equity release schemes
  • Royal Bank of Scotland Equity Release

The Age UK Equity Release Fact Sheet is an excellent resource about equity release.

Drawbacks of Age Solutions Equity Release Schemes

A monthly payment lifetime mortgage can reduce the value of your estate. Lump-sum lifetime mortgages may impact the ability to claim entitlements. You may need to pay a solicitor’s fee, and you could be exposed to changes in interest rates with some products.

Mortgage For Over 70s
Metrobank Equity Release

Does Age Concern offer Retirement Mortgages?

Yes, Age Concern Retirement Mortgages are 4.81% APR.

Yorkshire Building Society YBS Lifetime Mortgage
Equity Release Yorkshire Building Society YBS
Metrobank Lifetime Mortgage

Yorkshire Bank Equity Release Scheme

Does Age Concern offer Equity Release Under 55?

Yes, Age Concern Equity Release Under 55 is 4.86% APRC.

YB-Yorkshire Bank Lifetime Mortgage

Legal & General Lifetime Mortgage

Uses of Age Concern Equity Release Schemes

Often used to help tax planning and interest rates can be quite low. Help a family member buy their own home with a smaller mortgage or pay down your credit cards and loans, so you have more monthly disposable income.

Does Age Concern offer Lifetime Mortgages?

Yes, Age Concern does lifetime mortgages at 4.91% APR. Age Concern Lifetime Mortgages have a loan to value (ltv) of 60%.

Does Age Concern do retirement remortgages for the over 60s?

Yes, an Age Concern retirement remortgage for homeowners over 60 is 3.01% MER fixed.

Does Age Concern do a pensioner remortgage for pensioners over 60?

Yes, Age Concern pensioner remortgages for over 60s are 3.98% MER fixed.

Does Age Concern do later life remortgages for the over 60s?

Yes, an Age Concern later life remortgage for homeowners over 60 is 3.46% MER fixed.

Does Age Concern do the best remortgages for over 60s?

Yes, an Age Concern the best remortgage for retired pensioners over 60 is 3.63% APRC fixed for life.

Does Age Concern do a remortgaging option for pensioners over 60?

Yes, Age Concern remortgaging options for over 60s are 3.91% APR fixed.

Does Age Concern offer a mortgage calculator for retired homeowners over 60?

Yes, Age Concern mortgage calculators for the over 60s shows a 3% MER fixed for life.

Does Age Concern offer a RIO mortgage for the over 60s?

Yes, Age Concern RIO mortgages over 60 are 3.84% APRC fixed for life.

Does Age Concern do retirement interest only mortgages for people over 60?

Yes, an Age Concern retirement interest only mortgage for the over 60s is 3.18% MER fixed.

Exploring Pensioner Mortgages and Retirement Mortgages in the UK

The concept of equity release has gained significant traction in the UK over recent years, especially among pensioners. For many, their homes are their most significant assets, and equity release allows them to tap into this wealth. Several organisations, including Age UK and Age Concern, have delved into providing information and tools related to equity release to guide seniors through the process.

Age UK and Equity Release age UK:

  • Equity Release Age UK: Age UK, a charity dedicated to helping older individuals, has ventured into offering insights and advice about equity release. They provide various resources to help pensioners understand the nuances of equity release and its benefits.
  • Age UK Equity Release Fact Sheet: This is a valuable resource offering an in-depth look at the different types of equity release schemes, the costs involved, and the potential risks and benefits. By reviewing the fact sheet, pensioners can get a clearer picture of what equity release entails.
  • Equity Release Calculator Age UK: To make things even more straightforward for those considering equity release, Age UK offers an equity release calculator. The age UK equity release calculator provides an estimate of how much one might be able to release from their home based on their age and property value.

Age Concern’s Involvement:

  • Age Concern Equity Release: Age Concern, like Age UK, has shown active interest in educating the elderly about equity release. They’ve amalgamated a plethora of resources and tools, including the age concern equity release calculator, to help individuals make informed decisions.

Eligibility and Age Restrictions Age UK equity release:

One of the most common questions pensioners have is, “How old do you have to be for equity release?” Typically, the minimum age to release equity from your home is 55. However, the exact age and the amount you can release might vary based on the provider and the equity release scheme you choose.

Equity Release in Scotland and the Age UK equity release fact sheet:

It’s worth noting that there are region-specific considerations, especially in Scotland. The equity release Scotland calculator can offer insights tailored to Scottish residents. Moreover, the nuances of equity release in Scotland might differ from those in other parts of the UK, making region-specific resources invaluable.

Further Considerations for Age Equity Release Calculator:

  • Best Equity Release Scheme: There’s no one-size-fits-all when it comes to equity release. The best scheme depends on individual needs, property value, age, and long-term financial goals.
  • Unencumbered Mortgage Providers in the UK: For those who own their homes outright (without any existing mortgage), unencumbered mortgage providers UK offer specific mortgage products. The best unencumbered mortgage rates UK can be competitive and cater to those who’ve fully paid off their homes.
  • Home Reversion and Drawdown Examples: Home reversion plan examples and drawdown equity release examples provide real-life scenarios to help individuals understand how these schemes operate in practical terms.

In the vast world of equity release and pensioner mortgages, having credible sources of information and practical tools, such as calculators, can make a world of difference for seniors. Organisations like Age UK and Age Concern play a pivotal role in ensuring that older individuals make well-informed decisions about their homes and financial futures.