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5.19% MER Norwich Union Equity Release Schemes – Updated For 2024

Norwich Union Equity Release
  • Remove tax-free equity from your property with the help of Norwich Union Equity Release.
  • You don’t need to make regular monthly payments unless you want to pay interest only
  • Free valuation
  • No lender fees
  • No product fees
  • No early repayment charges
  • 5.19% Fixed for life
  • Help your family with the cash you release
  • Continue to stay in your home
  • Could be used to optimise tax planning
  • Your Requirements

  • About You

Customer Testimonials

lifetime mortgages

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.

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!

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.

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 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.

equity release

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.

mortgages for pensioners over 70
RIO


Equity release in house under 55

It is expected to discover individuals searching for lump sum lifetime mortgages, home reversion schemes or home reversion schemes; however, Key Retirement, like AIG Life, is keen to see evidence of your circumstances in the form of investment statements.

Equity Release LTV Percentages

The more aged you are and the more illnesses you have you are, the more cash you can release

Equity Release Lenders

  • Age Partnership
  • Norwich Union
  • Step Change
  • More to Life
  • Bridgewater

Equity Release Loan To Value

  • 50% interest-only lifetime mortgages Legal & General
  • 55% loan to value lump sum lifetime mortgages 1st Stop Home Loans

The lender will want to know if the property is a Detached freehold house or a Leasehold flat with a share of freehold and if the occupier is an owner-occupier.

UK Equity Release Providers similar to Norwich Union Equity Release

It’s often found to find individuals looking for monthly payment lifetime mortgage, monthly payment lifetime mortgage or interest-only lifetime mortgages, however, Age Concern like Royal London Equity Release are eager to see evidence of your situation in the form of pension statements.

  • Hodge Indexed Lifetime Mortgage
  • Just Retirement Equity Release
  • More to Life Capital Choice Plan
  • Stonehaven Equity Release Plan
  • Lloyds Bank Equity Release
  • More to Life Capital Choice Plan
  • Norwich Union Equity Release
  • More to Life Capital Choice Plan
  • Norwich Union Equity Release
  • L&G Legal & General Premier Flexible Lifetime Mortgage
  • Pure Retirement Lifetime Mortgage
  • More to Life Flexi Choice Drawdown Lite Plan
  • L&G Legal & General Flexible Max Scheme
  • Pure Retirement Classic Voluntary Payment Super Lite
  • Lloyds Bank Lifetime Mortgage
  • Barclays Interest Only Lifetime Mortgage
  • NatWest Interest Only Lifetime Mortgage
  • Saga Equity Release Schemes
Under 55 Homeowner

Mortgages Over 70 UK
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

Downsides of Norwich Union Equity Release

Norwich Union Equity Release can reduce your estate value. Home reversion plans may impact the ability to get state benefits. You may need to pay a broker’s fee and some products expose you to changes in interest rates.

Applications of Home Reversion Schemes or Aviva equity release

It can be used to help tax planning, and interest rates on the money can be appealing. Help a family member buy their home with a modest mortgage or pay down your debts so you have more monthly disposable income.

A great lender for equity release is HSBC Equity Release with no fees and free valuation but they are fussy about age requirements, like Avivas Equity Release.

Does Norwich Union offer Equity Release?

Yes, Norwich Union Equity Release is 1.88% APR.

Does Norwich Union offer Pensioner Mortgages?

Yes, Norwich Union Pensioner Mortgages are 2.19% APR.

Does Norwich Union offer Retirement Mortgages?

Yes, Norwich Union Retirement Mortgages are 1.93% APR.

Does Norwich Union do Equity Release Under 55?

Yes, Norwich Union Equity Release Under 55 is 2.11% MER – equity release plans.

Does Norwich Union offer Lifetime Mortgages?

Yes, Norwich Union does lifetime mortgages at 1.93% APR. Norwich Union Lifetime Mortgages have an LTV of 70% – Updated For August 2024.

Does Norwich Union do a retirement remortgage for people over 60?

Yes, Norwich Union retirement remortgages for over 60s are 3.97% MER fixed.

Does Norwich Union do pensioner remortgages for over 60s?

Yes, a Norwich Union pensioner remortgage for homeowners over 60 is 3.52% APRC variable.

Does Norwich Union offer later life remortgages for the over 60s?

Yes, a Norwich Union later life remortgage for people over 60 is 3.19% MER fixed.

Does Norwich Union offer the best remortgage for retired homeowners over 60?

Yes, Norwich Union the best remortgages for over 60s are 3.54% APRC variable.

Does Norwich Union offer a remortgaging option for homeowners over 60?

Yes, Norwich Union remortgaging options for over 60s are 3.99% AER fixed for life.

Does Norwich Union offer mortgage calculators for over 60s?

Yes, a Norwich Union mortgage calculator for retired homeowners over 60 will show 3.74% APR variable.

Does Norwich Union do a RIO mortgage for pensioners over 60?

Yes, Norwich Union RIO mortgages for over 60s are 3.64% MER fixed.

Does Norwich Union do retirement interest only mortgages for retired homeowners over 60?

Yes, a Norwich Union retirement interest only mortgage for over 60s is 3.67% APRC fixed for life.