Release tax-free equity from your UK home with Sunlife Equity Release
Continue to stay in your property with Sun Life equity release
Use the money to pay off debts
No early repayment charges
Free home valuation
Are you still paying a mortgage? We can help with that
No regular monthly repayments unless you want to make interest-only payments
4.74% fixed for life

How much cash can I borrow?

You can get 70% of your home’s value. As an example, if your house is valued at £310,000 you can get £217,000.

Personal Testimonials

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! Sun Life’s equity release is great for me because the rates are low.

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 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 Sun Life 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.

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.

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 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.

Retirement interest only mortgages for UK pensioners

uk retirement pension mortgage - sunlife equity release service

equity release council registered office

Mortgages for retired pensioners registered office

It’s very common to encounter individuals looking for flexible loan plans, RIO plans or home reversion plans. However, Sun Life like Zurich is keen to see evidence of your situation in the form of bank statements.

Sun Life Equity Release percentages of your current property value

The more elderly you are and the sicker you are, the more money you can release

Sunlife Equity Release similar UK Providers – some offer life insurance

Legal and General
Crown
More to Life – low-interest rate
LV equity release provider
SunLife limited
HSBC Equity Release Rates

Homeowner in their 70s - equity release products

Equity Release LTV – tax-free cash

50% monthly payment equity release Old Mutual Wealth – authority registered
40% loan to value (LTV) monthly payment Saga equity release calculator
30% loan to value interest-only mortgages Prestige Finance
60% loan to value plans 1st Stop Home Loans
45% loan to value interest-only Pepper

Similar Lenders to Sunlife UK Equity Release aged 55 or over

It is common to discover people seeking out home reversion plans, monthly payment lifetime mortgage or home reversion schemes, however, Lifetime Mortgage from L&G like Maximum cover Equity Release is eager to see paperwork to show your circumstances in the form of investment statements.

Liverpool Victoria LV= Flexible equity release calculator
More to Life Capital Choice Plus Plan – before long-term care
Stonehaven Interest Select Plan – financial conduct authority member
It’s important to consider Equity Release or Sunlife equity release
More to Life Capital Choice Plan and Age UK equity release
Hodge Lifetime Mortgage Flexible Drawdown Plan
Just Retirement Equity Release Schemes
Pure Retirement Drawdown Plan and Age Concern Equity Release
sun life equity release
Barclays Interest Only Lifetime Mortgage and Sunlife equity
More to Life Tailored Choice Plan
Just Retirement Drawdown equity release calculator
L&G Legal & General Premier Flexible
Royal Bank of Scotland Equity Release Plans
Canada Life Lifestyle Gold Flexi age concern equity release schemes
Nationwide Equity Release and Sunlife Equity Release
sun life equity release

Drawbacks of Sunlife UK Interest Only Lifetime Mortgages and sunlife equity release review

Lump-sum mortgages can reduce the value of your estate. Lump-sum lifetime mortgages may impact the ability to claim benefits.

You may need to pay an advisor’s fee, and you could be exposed to changes in interest rates with some products. Financial services loan products have rates that roughly track government bond rates.

Mortgage For Over 70
Metrobank Equity Release

Does Sun Life do Equity Release?

Yes, Sun Life Equity Release is 1.8% MER.

Yorkshire Building Society YBS Lifetime Mortgage

Equity Release Yorkshire Building Society YBS

Metrobank Lifetime Mortgage

Does Sun Life do Pensioner Mortgages?

Yes, Sun Life Pensioner Mortgages are 2.14% MER.

Yorkshire Bank Equity Release Scheme

Does SunLife do Equity Release?

Yes, SunLife Equity Release is 2% APRC.

YB-Yorkshire Bank Lifetime Mortgage

Does Sun Life do Retirement Mortgages?

Yes, Sun Life Retirement Mortgages are 2.24% APRC.

Legal & General Lifetime Mortgage

Does SunLife do Pensioner Mortgages?

Yes, SunLife Pensioner Mortgages are 2.05% APR.

Applications of Loan Plans – aged 55 or over the registered office

Can be used to optimise tax planning and interest rates are attractive. Help a family member buy their own home with a smaller mortgage or pay off your debts like loans and credit cards, so you have more monthly disposable income.

Does Sun Life do Equity Release Under 55?

Yes, Sun Life Equity Release Under 55 is 2.18% APR.

Does SunLife do Retirement Mortgages?

Yes, SunLife Retirement Mortgages are 2.19% APRC.

You’ll need to make sure your long-term interests are aligned with your short-term wants.

If you die or move you need to know what will happen and things like funeral plans are sorted out. Look out for the negative equity guarantee and the people you deal with are regulated by the financial services regulators.

Does SunLife offer Equity Release Under 55?

Yes, SunLife Equity Release Under 55 is 2% MER.

The financial conduct authority is very strict and has been known to send out big fines. Its essential financial conduct authority has adequate oversight.

Registered office 1 is regulated by the financial services authority for pet insurance and car insurance using a UK team. Make sure you get a valuation at the correct market value.

Do SunLife do Lifetime Mortgages?

Yes, SunLife does lifetime mortgages at 2.06% MER. SunLife Lifetime Mortgages have a loan-to-value (ltv) of 65%.

https://www.sunlife.co.uk/equity-release/

Does Sun Life offer Lifetime Mortgages?

Yes, Sun Life does lifetime mortgages at 1.83% APRC. Sun Life Lifetime Mortgages have a LTV of 55% – Updated For January 2024.

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