4.47% MER Age Concern Equity Release Over 60 Schemes UK

Release equity from your house with the help of Age Concern Equity Release.
Free property valuation
There are 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. For example, if your home is valued at £330,000, you can get £198,000.

Recent Reviews

William from Birmingham

My son knew a guy who owned six pubs. Because of successive lockdowns due to the COVID-19 coronavirus, he had to sell his holiday home in Cornwall quickly.

My equity release money bought his flat at 35% under market value. 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.

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 had no 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.

Mrs Yardly from Sheffield

I had an old, tired car and an unreliable central heating system. Repair bills continually mounted up, meaning I had less money to spend on holidays and other lovely 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 homework, I found that equity release interest rates were meagre in 2024, and the negative press focused on people who had been ripped off with high rates. Even if my house price only increased slightly, 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 on repairs all the time!

Mrs Heart from Aberdeen

I was struggling to pay my mortgage and had no money left for emergencies at the end of the month, 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 precisely 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.

Mr Shaw from Bradford

I thought I would have to sell my home to repay 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, which I would have paid to move to a place I did not want. The no negative equity guarantee and equity release council assurances were fundamental to me. I am better off each month and have some tax-free cash ready if repairs to the house are necessary.

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

UK Age Concern equity release schemes

Discovering individuals seeking interest-only lifetime mortgages, home reversion plans, or home reversion schemes is widespread. However, Key Retirement, like LV Liverpool Victoria, is keen to see evidence of your situation through 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 common 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 bank statements as evidence of your situation.

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.

Pensioner Mortgages
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

Interest rates can be pretty low, often used to help with tax planning. You can 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 have retirement remortgages for people in their 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 cause later life remortgages for those over 60?

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

Does Age Concern have the best remortgages for people over 60?

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 an RIO mortgage for those over 60?

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

Does Age Concern only provide retirement interest 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 important assets, and equity release allows them to tap into this wealth. Several organisations, including Age UK and Age Concern, have provided 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 resource offers an in-depth look at the different types of equity release schemes, their costs, and 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: Age UK offers an equity release calculator to simplify things for those considering equity release. The age UK equity release calculator estimates 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 many 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 regarding equity release. The best scheme depends on individual needs, property value, age, and long-term financial goals.
Unencumbered Mortgage Providers in the UK: Unencumbered mortgage providers in the UK offer specific mortgage products for those who own their homes outright (without any existing mortgage). The best unencumbered mortgage rates in the 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 difference for seniors. Organisations like Age UK and Age Concern are pivotal in ensuring that older individuals make well-informed decisions about their homes and financial futures.

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