- Remove tax-free cash from your house with a Nationwide Lifetime Mortgage
- No need to make monthly payments unless you want an interest-only plan
- Free Valuation in 2024
- 5.21% Fixed for life
- No early repayment charges
- No lenders arrangement fees
- RIO – retirement interest-only mortgage options
- Use the equity released for anything you like
- No need to have an account with the Nationwide
- Stay living in your own house
How much cash can I release in 2024 with a Nationwide Lifetime Mortgage?
You can release 60% of your home’s valuation. As an example, if your home is worth £350,000 you can release £210,000.
William from Birmingham
My son knew a guy that 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.
Mrs Halyard 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 about 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 that had been ripped off with high rates of 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!
Mr Hogarth 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.
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.
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.
Nationwide Building Society Equity release
Nationwide equity release scheme
It’s common to find individuals seeking out lump sum lifetime mortgages, lump sum lifetime mortgages, or monthly payment lifetime mortgages, however, Age Concerns like Zurich are keen to see proof of your circumstances in the form of pension statements.
Nationwide Equity Release LTV Percentages and the nationwide equity release calculator
The more elderly you are and the more illnesses you have you have, the more cash you can release
Nationwide Lifetime Mortgage Scheme Lenders
- the Telegraph
- Pure Retirement
- Legal and General
- Liverpool Victoria and nationwide lifetime mortgage comparison
- Nationwide later life mortgages
Does Nationwide offer Equity Release?
Yes, Nationwide Equity Release is 1.89% APRC.
Equity Release Loan To Value
- 50% home reversion plans Nationwide lifetime mortgage rates
- 35% loan to value (LTV) monthly payment equity release
- 50% home reversion plans Nationwide lifetime mortgages
The 1st and 2nd charge lenders will want to know if the property is a Freehold house or a Leasehold flat and if the occupier is an AST Tenant.
UK Lenders for Equity Release – equity release nationwide
It’s usual to discover individuals looking for a monthly payment lifetime mortgage, monthly payment lifetime mortgage or lifetime mortgage with flexible drawdown cash release, however, Sun life Plans like LV Liverpool Victoria is eager to see proof of your situation in the form of pension statements.
nationwide equity release
- Equity Release
- Pure Retirement Classic Drawdown Lite Plan
- Royal Bank of Scotland Equity Release
- Age Partnership Equity Release Schemes
- Bridgewater Equity Release
- Liverpool Victoria LV= Flexible Lifetime Mortgage
- More to Life Flexi Choice Drawdown Lite Plan
- Nationwide later life mortgages Plans
- HSBC Equity Release Rates
- Lloyds Bank Lifetime Mortgage
- Barclays Lifetime Mortgage
- NatWest Lifetime Mortgage
- Royal Bank of Scotland Equity Release Plans
- Saga home reversion schemes
- More to Life Capital Choice Plan
- Bridgewater Equity Release Schemes
- Stonehaven Interest Only Lifetime Mortgage
- Nationwide Interest Only Lifetime Mortgage
- Nationwide lifetime mortgage rates
- Nationwide Lifetime Mortgage
- More to Life Flexi Choice Drawdown Lite Plan
- Saga home reversion plan
Drawbacks of a Nationwide lifetime mortgage
A monthly payment lifetime mortgage can reduce your estate value. Monthly payment equity release may impact the ability to claim benefits. You may need to pay a solicitor’s fee, and you could have higher rates to pay with some schemes.
Benefits of Nationwide Lifetime Mortgage
Could be a vehicle to reduce tax bills and interest rates can be quite low. Help a family member buy their own home with a modest mortgage or pay down your credit cards and loans, so you have lower monthly outgoings.
- NatWest Equity Release Advice
- Legal And General Equity Release Schemes
- Secured Loan Against Buy To Let Property
- Key Retirement Solutions Equity Release From House
- Equity Release Calculator Under 55
- More to Life
- Nationwide Equity Release Plan
- Prudential Equity Release
- Lv Equity Release On Second Homes
- Nationwide Retirement Mortgage UK
- Unlicensed Hmo Mortgage
- Liverpool Victoria Lv= Lv Lifetime Mortgage No Payments
- Legal And General Lifetime Mortgage Calculator – Updated For January 2024
- Sun Life Equity Release Scheme
- Secured Loan Poor Credit Direct Lender
- Just Retirement Equity Release From House
- NatWest Lifetime Mortgage Over 55
- Key Solutions Lifetime Mortgage Scheme
- Lloyds Equity Release From Property
- Direct Lender Mortgage Companies
- Barclays Commercial Remortgage
- Mortgages For Over 60 UK 2024
- Halifax Retirement Mortgage UK
- More to Life Lifetime Mortgage Comparison
- Secured Homeowner Loans Direct
- Step Change Equity Release From House – Updated For January 2024
- Halifax Lifetime Mortgages
- Norwich Union Equity Release
Direct contact details and information – Nationwide lifetime mortgage
Lifetime Mortgage FAQs
What are the pitfalls of lifetime mortgages?
You may have your means tested state benefits impacted and the value of your estate will reduce.
What are the interest rates for a lifetime mortgage?
Interest rates are currently just over 3% fixed for life.
What is the maximum you can borrow on a lifetime mortgage?
You can borrow up to 60% of the open market valuation of your home.
Can you pay off a lifetime mortgage early?
Yes, you can, however, some lenders have penalties you need to pay.
Is a Nationwide Lifetime Mortgage Safe?
Yes, because Nationwide is regulated their Lifetime mortgages are completely safe.
Does Nationwide Do Equity Release?
Yes, Nationwide equity release can have so very low rates in 2024 and they will likely continue in 2024.
Is Nationwide Equity Release Safe?
Yes, because of government regulation the Nationwide equity release plans are completely safe.
Do Nationwide do Equity Release Under 55?
Yes, Nationwide Equity Release Under 55 is 1.82% APRC. Nationwide lifetime mortgage interest rates can be very low.
Do Nationwide do Lifetime Mortgages?
Yes, Nationwide does lifetime mortgages at 2.22% APRC. Nationwide Lifetime Mortgages can have a loan to value (ltv) of 60%.
Do Nationwide do Retirement Mortgages?
Yes, Nationwide Retirement Mortgages are 1.88% APRC. A Nationwide interest only lifetime mortgage can be an ideal option for UK pensioners.
Does Nationwide offer Pensioner Mortgages?
Yes, Nationwide Pensioner Mortgages are 1.84% APR.
Nationwide BS Equity Release FAQs
Is Nationwide a member of the equity release Council?
Yes, the Nationwide building society is a member of the equity release council.
What does Martin Lewis think of equity release?
He has a cautious approach to releasing equity from your home.
What is the average rate for equity release?
The average rate for equity release is 3.5% fixed for life. Rates could go up in the future.
Can I take equity out of my house with the Nationwide building society?
Yes, subject to your affordability and the amount of equity you have.
Does Nationwide Offer Equity Release?
Yes, the Nationwide BS has some of the best terms and the lowest rates available in the market.
Is Nationwide Equity Release Safe?
Yes, releasing equity is very strictly regulated so people don’t get ripped off.
Does Nationwide offer a retirement remortgage for people over 60?
Yes, Nationwide retirement remortgages for over 60s are 3.58% AER fixed for life.
Does Nationwide do pensioner remortgages for the over 60s?
Yes, a Nationwide pensioner remortgage for people over 60 is 3.88% MER fixed for life.
Does Nationwide offer a later life remortgage for people over 60?
Yes, Nationwide later life remortgages for over 60s are 3.99% AER variable.
Does Nationwide offer a the best remortgage for retired over 60?
Yes, Nationwide the best remortgages for over 60s are 3.44% APR fixed.
Does Nationwide offer remortgaging options for over 60s?
Yes, a Nationwide remortgaging option for pensioners over 60 is 3.88% APRC fixed for life.
Does Nationwide offer a mortgage calculator over 60?
Yes, Nationwide mortgage calculators for the over 60s shows 3.4% APR fixed.
Does Nationwide offer a RIO mortgage over 60?
Yes, Nationwide RIO mortgages for the over 60s are 3.6% AER variable.
Does Nationwide offer a retirement interest only mortgage for the over 60s?
Yes, Nationwide retirement interest only mortgages over 60 are 3.22% AER fixed for life.