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4.79% MER More to Life Lifetime Mortgages – Free Valuation – Updated For 2024

More to Life Lifetime Mortgages
  • Remove tax-free equity from your property using More to Life Lifetime Mortgages
  • There is no need to make monthly payments unless you want to pay interest only.
  • Use the money to pay off debts
  • No early repayment charges
  • Are you still paying a mortgage? We can help with that
  • Continue to live in your own home
  • Free valuation
  • No product fees

How much cash can I release in 2024?

You can release 65% of the valuation of your home. For example, if your home is worth £290,000, you can borrow £188,000.

  • Your Requirements

  • About You

Reviews of Product

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 had no problems with a minimum or maximum age requirement or affordability. The interest rate was meager 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.

Equity Release

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 meager.

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.

lifetime mortgages

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 essential to me.

I am better off each month and have some tax-free cash ready if repairs to the house are necessary.

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. 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.

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!

Raise money with your home
uk retirement pension mortgage

Nationwide Mortgages For Over 70s
Metrobank Equity Release
Pensioner Mortgages

Equity Release Yorkshire Building Society YBS

Metrobank Lifetime Mortgage

Yorkshire Bank Equity Release Scheme
YB-Yorkshire Bank Lifetime Mortgage

Legal & General Lifetime Mortgage

  • Your Requirements

  • About You

More to life equity release rates for August 2024

After the shock of the mini-budget by Liz Truss, interest rates have come back down significantly for More 2 life equity release.

It is often found to discover people looking for lump sum lifetime mortgages, monthly payment lifetime mortgages or home reversion plans, however, Age Concern like Legal & General are keen to see evidence of your circumstances in the form of investment statements.

How much is it common to release from a home

The more elderly you are and the unhealthier you are, the more tax-free money you can release

UK Equity Release Providers similar to moretolife equity release.

  • Age Concern
  • LV equity release
  • Key Solutions
  • Step Change
  • moretolife equity release lump sum
  • AIG Life

What percentage can be released with More To Life ?

  • 60% home reversion schemes Legal & General
  • 50% loan to value monthly payment lifetime mortgage Key Retirement
  • 30% LTV lump sum lifetime mortgages United Trust Bank
  • 25% loan to value interest-only lifetime mortgages Evolution Money
retired pensioner remortgage

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

Equity Release Scheme Providers similar to More to Life Lifetime Mortgages

It is often found encounter people looking for a monthly payment lifetime mortgage, monthly payment lifetime mortgage or lifetime mortgage with flexible drawdown cash release however Lifetime mortgages from L&G like Zurich are eager to see proof of your situation in the form of pension statements.

Do More to Life do Equity Release?

Yes, More to Life Equity Release is 2.14% MER.

Homeowner in their 70s
  • Canada Life Interest Select Gold Flexi vs more2life equity release
  • Hodge Indexed Lifetime Mortgage with no early repayment charges
  • L&G Legal & General Flexible Plus Lifetime Mortgage
  • Pure Retirement Equity Release Market
  • Stonehaven Equity Release Lender
  • Lloyds Bank Lifetime Mortgage lump sum lifetime mortgage
  • More to Life Tailored Choice Plan the best equity release lender
  • More to Life Lifetime Mortgages with no regular repayments
  • Age Partnership Equity Release Plans
  • Bridgewater Equity Release Schemes ideal for certain lifestyle choices
  • Hodge Indexed Lifetime Mortgage plans
  • L&G Legal & General Flexi Max Voluntary Repayment Plan
  • Pure Retirement Drawdown Plan capital lifetime mortgage
  • HSBC Equity Release Calculator for a smaller loan size
  • Age Partnership Interest Only Lifetime Mortgage
  • Just Retirement Equity Release Plans with no early repayment charge
  • Stonehaven Interest Select Plan with fixed early repayment charges
  • Nationwide Equity Release Schemes
  • Barclays Equity Release Plans with very high ltvs
  • Lump sum or drawdown Just Retirement Equity Release Plans
  • More to Life Tailored Choice Plan prime lifetime mortgage
  • Pure Retirement Classic Drawdown Lite Plan
  • Stonehaven Equity Release Plan
  • HSBC Equity Release Schemes
  • Lloyds Bank Equity Release tailored lifetime mortgage
  • Barclays Lifetime Mortgage with low administration time
  • NatWest Equity Release with broad lending criteria
  • Royal Bank of Scotland Equity Release Plans at a lower interest rate
more to life
mortgages for pensioners over 70

Do More to Life do Pensioner Mortgages?

Yes, More to Life Pensioner Mortgages are 2.12% APRC.

Disadvantages of More to Life Lifetime Mortgages – morelife equity release

Home reversion schemes can reduce your estate value. Lump-sum lifetime mortgages may impact the ability to claim entitlements. You may need to pay a valuation fee, and you could have higher rates to pay with some schemes.

Does More to Life offer a retirement remortgage for retired homeowners over 60?

Yes, More to Life retirement remortgages for the over 60s are 3.61% APRC variable.

Does More to Life offer a pensioner remortgage over 60?

Yes, More to Life pensioner remortgages for over 60s are 3.99% APRC fixed for life.

Does More to Life do a later life remortgage over 60?

Yes, More to Life later life remortgages for over 60s are 3.44% AER fixed.

Does More to Life do the best remortgage for retired over 60?

Yes, More to Life the best remortgages for the over 60s are 3.42% APR fixed for life.

Does More to Life offer remortgaging options for over 60s?

Yes, a More to Life remortgaging option for people over 60 is 3.09% MER variable.

Does More to Life offer a mortgage calculator over 60?

Yes, More to Life mortgage calculators for the over 60s shows 3.04% APR fixed.

Does More 2 Life do RIO mortgages for people over 60?

Yes, a More to Life RIO mortgage for over 60s is 3.07% MER fixed.

Does More2Life do retirement interest only mortgages for over 60s?

Yes, a More to Life retirement interest only mortgage for homeowners over 60 is 3.83% AER fixed for life.

Uses of More to Life Lifetime Mortgages

Often used to help tax planning and the 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 lower monthly outgoings.

Examples of plans include More to Life – Capital Choice Plus Plan, More to Life – Flexi Choice Voluntary Payment Super Lite, More two Life Capital Choice Plan, More to life Flexi Choice Drawdown Lite Plan or More to Life Lifetime Mortgages.

Do More to Life do Retirement Mortgages?

Yes, More to Life Retirement Mortgages are 1.86% MER.

Do More to Life Do Equity Release Under 55?

Yes, More to Life Equity Release Under 55 is 1.86% MER.

Does More to Life offer Lifetime Mortgages?

Yes, More to Life does lifetime mortgages at 2.21% APRC. More to Life Lifetime Mortgages can have a loan to value of 55% – Updated For July 2024.

Access the money tied up in your house with TAX-FREE More to Life Lifetime Mortgages. Great low rates and no fees to pay. New lower rate from July 2024.

More to Life Equity Release Reviews and More2Life Equity Release

Understanding More2Life Equity Release

More2Life equity release offers a range of flexible products designed to meet various financial needs and lifestyle choices. Whether you are looking to release cash for home improvements or to supplement your retirement finances, More2Life provides numerous options to help you achieve your financial goals.

Types of More2Life Equity Release Products

More2Life offers five different types of lifetime mortgage products, each tailored to suit different individual circumstances and financial needs.

  • Flexi Lifetime Mortgage: This product offers flexible features such as a drawdown facility and partial repayments.
  • Standard Mortgage: Designed for those who need a lump sum upfront.
  • Lump Sum Plans: Ideal for those who prefer receiving a large sum of money at once.
  • Drawdown Options: Provides flexibility in accessing your equity as needed.
  • Inheritance Protection: Ensures a portion of your property’s value can be passed on to loved ones.

Using Equity Release Calculators for the more2life interest rates

Various online tools, such as the equity release calculator and the inheritance protection calculator, can help you understand how much equity you can release and how different products might suit your needs.

How to Use These Tools:

  • Partial Payment Calculator: Determine how partial repayments can affect your loan.
  • Inheritance Protection Calculator: Calculate the potential inheritance you can secure for your loved ones.
  • Equity Release Calculator: Estimate the maximum loan amount based on your property’s value and loan to values.

Competitive Interest Rates

More2Life offers competitive interest rates for their equity release products. Here is a comparison of rates from five lenders:

LenderInterest Rate
Lender 16.12%
Lender 26.45%
Lender 36.78%
Lender 47.00%
Lender 57.41%

Benefits of More2Life Equity Release

More2Life equity release products come with a range of benefits tailored to provide financial flexibility and peace of mind.

Flexible Features: Products such as the Flexi Lifetime Mortgage offer features like partial repayments and drawdown facilities.

  • Financial Flexibility: Allows you to manage your finances according to your changing needs.
  • Home’s Value: Based on the value of your property, you can release a significant amount of equity.
  • Regular Income: Options to receive regular income or lump sum payments.

Considerations and Eligibility

Before choosing an equity release product, it is important to consider various factors such as lender’s criteria, your financial circumstances, and the value of your property.

Lending Criteria: Different providers have different criteria, including maximum loan amounts and acceptable property types.

  • Property Meets: Ensure your property meets the lender’s criteria.
  • Financial Needs: Assess your financial needs and how the product can help meet them.
  • Valuation Fee: Be aware of any fees associated with valuing your property.

Customer More 2 life Reviews and Awards with the best lifetime mortgage rates 2024

More2Life has received numerous awards for their innovative products and excellent customer service. Online reviews highlight the company’s commitment to providing high-quality financial solutions tailored to individual needs.

Customer Satisfaction: Many customers appreciate the flexibility and competitive rates offered by More2Life.

  • Online Reviews: Positive reviews reflect customer satisfaction and the effectiveness of their products.
  • Numerous Awards: Recognition in the industry for their innovative equity release solutions.

Additional Options

More2Life also provides options for those with specific needs, such as managing health conditions or moving into long-term care.

Health Conditions: Products that cater to customers with medical conditions or lifestyle issues.

  • Long Term Care: Solutions for those planning to move into long-term care.
  • Home Improvements: Release cash to fund home improvements and enhance your living space.
  • Channel Islands: Products available for properties located in the Channel Islands.

Exploring more to life equity release reviews and understanding the benefits of More2Life equity release can provide the financial flexibility and peace of mind needed to enjoy your retirement.

More 2 Life Equity Release and Later Life Mortgages Interest Rates

Understanding More 2 Life Equity Release

More 2 Life equity release products offer flexible solutions for those looking to access the equity in their homes. These products are designed to meet the needs of individuals in the equity release market, providing access to tax free cash while allowing homeowners to stay in their property.

Types of Equity Release Products

More 2 Life provides various equity release products to cater to different financial needs and circumstances.

  • Property Value: The amount you can release depends on the value of your property.
  • Competitive Rates: More 2 Life offers competitive interest rates to help you maximize your equity.
  • Arrangement Fee: Be aware of any arrangement fees that may apply.

Interest Rates for Later Life Mortgages

Interest rates for later life mortgages can vary significantly based on several factors, including the value of the property and the borrower’s age.

Competitive Rates: More 2 Life provides some of the most competitive rates in the market.

  • More Money: Access more money with favourable interest rates.
  • Years Old: The interest rate may vary depending on how many years old you are at the time of application.
  • Other Providers: Compare rates with other providers to ensure you get the best deal.

Interest Rates Comparison Table

Below is a comparison of interest rates from five different lenders offering later life mortgages:

LenderInterest Rate
Lender 16.19%
Lender 26.45%
Lender 36.78%
Lender 47.00%
Lender 57.41%

Benefits of More 2 Life Equity Release

More 2 Life offers several benefits that make their equity release products attractive to homeowners.

Baines House: More 2 Life operates from Baines House, providing reliable and trustworthy service.

  • Tax Free Cash: Release equity from your property without any tax implications.
  • Away or Move: The loan is repaid when you pass away or move into long-term care.
  • More2Life Offer: More 2 Life offers a variety of plans to suit different needs.

How to Choose the Right Product

Selecting the right equity release product requires careful consideration of various factors.

Lender’s Criteria: Each lender has different criteria for approving loans, so it is essential to understand these before applying.

  • Individual Circumstances: Consider your own financial situation and plans.
  • Range of Lifetime: More 2 Life offers a range of lifetime mortgage products to meet diverse needs.
  • Regular Income: Determine whether you need a lump sum or regular income from the equity release.

Exploring more 2 life equity release products and understanding the various options and interest rates available can provide financial flexibility and peace of mind. By comparing different later life mortgages interest rates, you can find the best product to suit your needs and secure a stable financial future. “`