Equity Release at 4.71% with no hidden fees or charges.
- Remove money from your home with Lloyds Bank Equity Release
- No regular monthly repayments
- Free valuation in 2024
- No early repayment charges
- No arrangement fees
- Help your family with the cash you release
- Stay living in your own home
Reviews of Product
Mrs Yardly from Sheffield
I had an old, tired car and an unreliable central heating system. Repair bills continually mounted, 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 homework, I found that in 2024, equity release interest rates were very low, and the negative press was around 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 all the time on repairs!
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 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 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 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.
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.
William from Birmingham
My son knew a guy who owned six pubs. Because of successive lockdowns due to covid 19 coronavirus, he had to make a quick sale on his holiday home in Cornwall. 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 lenders.
It’s usual to find individuals searching for home reversion plans, monthly payment lifetime mortgages or lump sum lifetime mortgages; however, Bower, like Maximum cover Equity Release lender, are keen to see evidence of your circumstances in the form of investment statements.
Equity Release LTV Percentages
The older you are and the sicker you are, the more money you can release
UK Equity Release Providers similar to Lloyds Bank UK
- One Family
- Liverpool Victoria
- more to life
- Legal and General
Equity Release LTV
- 55% monthly payment equity release – AA equity release financial advisers
- 60% loan to value lifetime mortgage with flexible drawdown cash release outstanding loan
- 55% LTV lifetime mortgage with flexible drawdown cash release Equifinance for a new property
- 45% loan to value interest-only lifetime mortgages Optimum Credit to get financial freedom
- 30% loan to value (LTV) home reversion plans Holmesdale Building Society for home improvements
- 60% Lloyds Bank Equity Release for retirement planning for people borrowing jointly who want to make regular payments
The lender will want to know if the property is a Detached freehold house or a Leasehold flat and if the occupier is an Assured shorthold tenant.
Equity Release UK Providers similar to Lloyds Bank Equity Release
It’s often found to discover people searching for monthly payment equity releases, lumpsum lifetime mortgages or interest-only lifetime mortgages. However, Key Retirement, like Legal & General, is eager to see evidence of your circumstances in the form of bank statements.
- l&G Flexible Voluntary Repayment Plan similar to standard mortgages
- Hodge Lifetime Mortgage Flexible Drawdown Plan for existing customers
- L&G Legal & General Flexi Max Voluntary Repayment Plan with award-winning service
- Lloyds Bank Equity Release Plans before long term care
- Saga home reversion schemes for smaller lump sums
- Hodge Lifetime Mortgage Plus before the borrower dies or moves into long-term care
- L&G Legal & General Flexible Max Scheme with Inheritance Protection
- Liverpool Victoria LV Equity Release Schemes with optional repayments
- More to Life Capital Choice Plan with downsizing protection
- Age Partnership Equity Release Plans for aged 55 and above
- Canada Life Second Home Voluntary Select Plan, where interest is added to the loan
- Liverpool Victoria LV Equity Release Plans which is a popular type of help for loved ones.
- HSBC Equity Release retirement interest only mortgage
- Saga Equity Release Plans with no need to make repayments
Does Lloyds Bank do an Equity Release?
Yes, Lloyds Bank Equity Release is 2.17% APR.
- Bridgewater Equity Release Plans get a release from your home before the sale of your home.
- Hodge Lifetime Flexible Drawdown Plan, where you can take the money in smaller chunks
- Just retirement-defined benefit that is better than home reversion plans
- Liverpool Victoria LV Equity Release Schemes on your main residence
- More to Life Capital Choice Plus Plan is similar to a standard mortgage
- Pure Retirement Equity Release Plans with free solicitors fees
Does Lloyds Bank do Pensioner Mortgages?
Yes, Lloyds Bank Pensioner Mortgages are 2.28% APRC.
- Nationwide Equity Release Plans – most lifetime mortgages let you keep legal home ownership, depending on your circumstances.
- Lloyds Bank Equity Release Plans without making monthly repayments
- Royal Bank of Scotland Equity Release Schemes administered by someone with a specialist qualification
Drawbacks of Lloyds Bank Equity Release
Monthly payment equity release can reduce your estate value. Monthly payment equity release may impact the ability to claim benefits. You may need to pay a legal fee, and you could have higher rates to pay with some schemes.
Does Lloyds Bank offer Equity Release Under 55?
Yes, Lloyds Bank Equity Release Under 55 is 1.93% APR.
Applications of Lloyds Bank Equity Release
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 LTV mortgage or pay off your debts like loans and credit cards so you have more monthly disposable income.
Does Lloyds Bank offer Retirement Mortgages?
Yes, Lloyds Bank Retirement Mortgages are 2.18% APR.
Lloyds Bank equity release doesn’t exist, but it may exist in the future.
Does Lloyds offer a retirement remortgage over 60?
Yes, Lloyds retirement remortgages for the over 60s are 3.99% MER variable.
Does Lloyds do pensioner remortgages for the over 60s?
Yes, a Lloyds pensioner remortgage for people over 60 is 3.31% MER variable.
Does Lloyds offer a later life remortgage for people over 60?
Yes, Lloyd’s later life remortgages for the over 60s are 3.94% APR variable.
Does Lloyds offer the best remortgages for the over 60s?
Yes, Lloyds have the best remortgage for retired over 60 and is 3.39% APR fixed.
Does Lloyds offer a remortgaging option for people over 60?
Yes, Lloyds remortgaging options for the over 60s are 3.69% AER fixed.
Does Lloyds offer mortgage calculators for the over 60s?
Yes, a Lloyds mortgage calculator for homeowners over 60 will show 3.32% APRC variable.
Does Lloyds offer a RIO mortgage for over 60s?
Lloyds RIO mortgages for people over 60 are 3.74% APR fixed.
Does Lloyds do a retirement interest only mortgage over 60?
Yes, Lloyds retirement interest-only mortgages for over 60s are 3.83% AER variable.
- More to Life Lifetime Mortgage No Payments with no early repayment charge
- Buy To Let Home Loan with free specialist equity release adviser
- Prudential Equity Release Interest Rates
- More to Life Equity Release Mortgage – Updated For January 2024
- Nationwide Lifetime Mortgage Reviews to release tax-free cash
- Legal And General Equity Release Best Deals to get a lifetime mortgage debt
- Crown Equity Release Advice for one lump sum
- Stonehaven Equity Release Mortgage with no advice fees
- Barclays Lifetime Mortgage Interest Only Rates – Updated For January 2024
- Stonehaven Lifetime Mortgage Calculator with free independent legal advice
- Commercial Remortgage Rates with a low overall cost
- Direct Lender Mortgage Loans to borrow money at a low rate
- Sunlife Equity Release Advice explaining the concept of compound interest
- Auction Bridging Finance with no arrangement fees
- Step Change – Equity Release Advice that offers two equity release options
- Remortgage With a Bad Credit Score to suit your financial circumstances
- Secured Loan Poor Credit Direct Lender with a monthly interest payment
- Just Retirement for a low-cost initial loan
- Barclays Retirement Mortgages paid for with sale proceeds
- Lv Equity Release Mortgage for your equity release questions
- Natwest Lifetime Mortgage Buy To Let Equity Release Product
- Halifax Equity Release Loan with low equity release cost
- Natwest Equity Release Best Deals for a tax-free lump sum
- Nationwide Equity Release Retirement for great equity release advice
- Norwich Union Equity Release Retirement deals for an equity release mortgage
- Equity Release Under 55 is a low-cost way of releasing equity
- Prudential Lifetime Mortgage No Payments equity release loan
- Commercial Bridging Loans paid for with retirement income
- Semi Commercial Property Mortgage to raise cash
- Lloyds Lifetime Mortgage Interest Only Rates to find how much equity you can release
- Age Partnership Interest Rate – Updated For January 2024
Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No.2065. Telephone: 020 7626 1500. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Get in touch
Get in touch.
0345 300 0116
From abroad, call +44 173 323 2030
0345 300 0000
From abroad, call + 44 173 334 7007 – Updated For January 2024