Frequent Finance specialises in flexible, low cost, low rate equity release under 55. It doesn’t matter if you still have a mortgage and some options can have your cash in hand in days or weeks.

Use the money to improve your home, pay down debt, help your family buy their first home or any other purpose.

In addition to the lenders on the comparison sites like Legal and General, LV (Liverpool Victoria), One Family, Bridgewater, Crown, Marsden building society, Scottish building society, Frequent Finance have access to other lenders/insurance companies that have excellent terms.

Happy Customers with existing property

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 drawdown lifetime mortgage was ideal for me as I had no monthly repayments and I paid off my old mortgage. I can get a drawdown for further smaller amounts.

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. I did not want to pay ludicrous lenders fees. The age limit was not a problem.

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 product 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.

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.

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 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!

equity release calculator uk under 55 aged 49

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 plans 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.

equity release calculator under 55 and aged 54

Release equity in house under 55

Now Brexit is behind us and the value of the pound is stabilising, releasing equity in your home under 55 at a low rate could be an excellent way to buy an overseas property. At the age of 55 it’s not a problem.

Equity release under 55 UK lenders

As interest rates are very low and the gap between the rich and the poor seems to be getting wider and wider it could be wise to copy the rich and buy stocks and shares using equity release schemes under 55.

UK equity release mortgage under 55

As further house price appreciation could easily cover money lost in loan interest, getting equity release for under 55 loan for renovations like a new kitchen or bathroom could prove a very low overall cost to you.

Equity release for under 55 loan – secured loans or unsecured loan?

If you think inflation is coming and paper money is going to lose value, releasing equity in your home under 55 to buy gold in the Perth mint could prove very lucrative especially if you can lock in a very low fixed interest rate.

UK lenders for equity release schemes under 55

If you live in an area that is up and coming, or an area where rental yields are particularly attractive, releasing equity in your home under 55 can help you put a deposit down on a property in your area. If you able to lock in long term very low interest rates this is even more powerful.

Releasing equity from your home under 55

If you know your divorce or separation is going to involve paying out your partner but you want to keep your home a UK equity release mortgage under 50 could be an ideal way of keeping your home and meeting your commitments to your partner at a minimal cost.

Releasing equity in your home under 55

As more and more people are vaccinated against COVID-19, university students are likely back at university in September 2024. Buying your son or daughter a house with lots of bedrooms to rent out near a university could be an ideal use of the money raised by equity release under 55.

Can I get equity release under 55?

Yes, and people are using this type of finance to pick up distressed assets at bargain prices even at aged 55. A recent case of the use of equity release under 55 involved the cash purchase of a holiday home. The flat was owned by a family that owned a small chain of Manchester pubs, but they needed the money to pay bills for the pubs so they sold for just over 70p in the pound.

UK residential property equity release if under 55

If you are under 55 you are still the age where you could consider levering up to buy more real assets instead of having equity parked dormant in a home.

If you can lock in low rates using an equity release mortgage under 55 and buy real assets like HMO properties or buy to let properties, or even shares in a property-owning company, in your retirement you could be a lot better off.

Does the equity release calculator under 55 show loan to value?

Yes, the equity release calculator under 55 shows ltv based on your home equity and age. Equity release providers set rates above the 15 year gilt yield.

equity release mortgage under 55 House in Torquay — Typical

Types of equity release if under 55 include:

Drawdown tax free lump sum equity release deals
Lump-Sum type of equity release enhanced lifetime mortgage to pay other debts
Voluntary Repayment interest repayments based on the value of your property
No early repayment charges for lifetime mortgage products with a loan amount that is high
Home Reversion equity release mortgages to helped loved ones and home improvements

Can you get 50% equity release?

Yes, you can get 50% loan to value equity release to pay an existing mortgage or outstanding mortgage.

Interest Only cash lump sum debt secured against your home
Retirement Mortgages equity release options
2nd Home financial advice based on your valuable asset
Ill Health financial adviser on property ownership
Under 60 cash reserve based on your property value

What is the lowest equity release rate?

Many equity release providers have rates under 4% APRC.

Under 55 lump sum payment access money tied
Under 50 equity release loan are home equity loans
Under 45 equity release provider with one lump sum

Other terms from our lenders include:

Fixed, variable, tracker and discounted rates
The Marsden as an example has a variable rate of a tiny 2.39%
Hodge has rates including one currently at 3.35%
Some plans from Hodge offer No early repayment charges if you want to repay

Niche products for home improvements

Equity release under fifty from your Second Home or Buy to let property
Some programs have a free valuation on your house or flat
Voluntary repayments of up to 10%pa with No Penalty

Can I get an equity release under 55?

Yes, there are some great rates from lenders not on the comparison sites.

Ongoing ownership of 100% of your home before long term care
Interest rates come from the whole of the market
Unique products with incentives to save you money
Free initial consultation with no commitment or credit checks

Halifax equity release under 55

Release equity in house under 55 Lenders UK – get the maximum loan

It’s often found to find individuals looking for interest-only lifetime mortgages, monthly payment lifetime mortgage or lifetime mortgage with flexible drawdown cash release, however, Key Retirement like Zurich is eager to see paperwork to show your situation in the form of bank statements.

Equity release in a home under 55 is a widespread request for people who cannot afford a monthly payment, and need money without a commitment.

More to Life Tailored Choice Plan
Pure Retirement Classic Drawdown Lite Plan
More to Life Flexi Choice Voluntary Payment Super Lite
Lifestyle Flexible Option

Popular lenders

Hodge Lifetime Mortgage Flexible Drawdown Plan
More to Life Capital Choice Plus Plan
Hodge equity release under 55 Plans
Pure Retirement Drawdown Plan
HSBC Equity Release Rates

Non high-street lenders

Lifetime Mortgage which is not a home reversion plan
Bridgewater equity release under 55
Just retirement defined benefit
More to Life Capital Choice Plus Plan
More to Life Flexi Choice Voluntary Payment Super Lite

Other Mortgage Products – second mortgage:

Does TSB offer Equity Release?

Yes, TSB Equity Release is 2% APRC.

Mainstream and niche lenders for equity release customers

Halifax Plans
Crown Interest Rates
Norwich Union Lifetime Mortgage Drawdown Scheme – Updated For January 2024
Secured Loan Poor Credit Direct Lender

High-street lenders with equity release advisers

At what age can you get equity release?

If you can make monthly payments you can release equity at any age. Fixed rate equity release is appealing to many people.

Prudential Brokers UK
Step Change Mortgage
Stonehaven Retirement – Updated For January 2024
Lloyds Lifetime Mortgage

Does TSB offer Pensioner Mortgages?

Yes, TSB Pensioner Mortgages are 2.28% MER.

Interest Only Mortgages For The Over 60S
Key Solutions
More to Life Lifetime Mortgage Comparison
Barclays Retirement Mortgage Interest Only – Updated For January 2024

Does TSB offer Retirement Mortgages?

Yes, TSB Retirement Mortgages are 2.18% APRC. You need to have good credit status and you must pay interest.

Can you release equity if you are under 55?

Yes, an equity release plan can depend on your loan to value as well. Nationwide Mortgages For Over 60s

Metro bank

Can you release equity when you have an existing mortgage?

If you have an existing mortgage you can get a secured loan and make monthly loan repayments. Most equity release plans require you to pay off your existing mortgage in full. Yorkshire Building Society YBS Lifetime Mortgage

High-street lenders for jointly owned property

Equity Release Yorkshire Building Society YBS

Do TSB do Equity Release Under 55?

Yes, TSB Equity Release Under 55 for loft conversions is 2.04% APR. You can transfer equity from your existing lender

Metro bank Lifetime Mortgage

Northern lenders to avoid home reversion schemes

Yorkshire Bank Scheme
YB-Yorkshire Bank Lifetime Mortgage

Does TSB offer Lifetime Mortgages for the youngest homeowner?

Yes, TSB do lifetime mortgages at 2.28% APR. TSB Lifetime Mortgages have a LTV of 60%.

You can borrow money against your home at any age as long as you have home equity.

To get equity release products you can be any age as long as you have money for legal fees, just ask an equity release advisor.

An equity release scheme is where a mortgage advisor looks for equity release lenders for the uk residential property market to get so you can release equity tied up in your home without problems with age limits and without the need for personal loans.

It is a loan secured on your home and the interest rolls up over time and adds to the loan.

Legal & General Lifetime Mortgage

How much equity released is the key for most people. As long as you keep the loan to value low and keep your property ownership you have no need to worry about upper age limits and your existing borrowing.

This page does not constitute financial advice and is not considered financial advice.

Frequent Finance is not a lender.

Equity Release and Homeowner Loans: A Comprehensive Guide for the UK Reader

The topic of equity release and homeowner loans is a pivotal subject for many homeowners in the UK, especially those nearing retirement or seeking ways to manage finances or execute life goals. As with any financial product, equity release schemes come with their set of pros, cons, eligibility criteria, and suitability factors. Let’s delve deeper into understanding equity release, its various facets, and alternative financial solutions available.

Equity Release: A Brief Overview

Equity release allows homeowners to unlock the value tied up in their homes without the need to move. Generally seen as a financial solution for those aged 55 and above, there are several types of equity release products in the market, each with its unique features and requirements.

Types of Equity Release Products

Lifetime Mortgages: This is the most common form of equity release, where a loan is secured against your home. The loan amount, along with the accumulated interest, is repaid when you pass away or move into long-term care.
Home Reversion Plans: Here, you sell a portion or all of your home to a reversion provider but continue living in it rent-free until you pass away or move into long-term care.

Age-Related Queries on Equity Release for people under 55

Given the age-centric nature of equity release products, a number of queries revolve around age restrictions:

Equity Release for Under 55 & Equity Release Under 55: Traditional equity release schemes target individuals who are 55 or older. However, a growing number of people under this age bracket are interested in exploring ways to release equity. While conventional products might not cater to the “under 55” category, there are alternative financial products that might be suitable.
Can I Release Equity from My House Under 55?: The direct answer is not via conventional equity release schemes. But other homeowner loan solutions could be an alternative, depending on the individual’s circumstances.
Equity Release at 50 & Over 50 Equity Release: The interest in unlocking home equity at an even younger age, such as 50, has grown. While it’s rare, some providers might offer solutions, but the terms and conditions can vary significantly from those provided to older age groups.
Equity Release Minimum Age & Equity Release Age Limit: Typically, the minimum age for equity release is 55. However, as previously mentioned, alternatives might exist for those under this age.
55 Plus Equity Release & Equity Release Over 55: This is the standard demographic for equity release products. Several providers cater to this age group, offering a range of products with varying features and benefits.
Mortgage at 55: While equity release is one option, many in their mid-50s also consider traditional mortgages. In the UK, getting a mortgage at 55 is indeed possible, but the terms, such as the loan duration, may differ from those offered to younger borrowers.
Unsecured Loans for Over 60s: Another alternative to equity release for those aged over 60 is unsecured loans. Unlike equity release, unsecured loans don’t require collateral but might have higher interest rates.

Providers and Comparison

Navigating the plethora of providers can be daunting. Several companies in the UK provide equity release products:

TSB Equity Release: TSB, one of the UK’s renowned banks, offers a variety of financial products, including potential solutions for those interested in equity release.
OneFamily Equity Release: OneFamily is a notable name in the equity release sector, known for its range of lifetime mortgages.
Bridgewater Equity Release & Hodge Equity Release: Both are recognized equity release providers in the UK, offering a variety of products tailored to different needs.
Equity Release Comparison Sites: To make an informed decision, it’s advisable to use comparison sites. These platforms can offer insights into the features, benefits, and potential pitfalls of different products.

Potential Issues and Considerations

As with any financial product, there are potential downsides to consider:

Equity Release Problems & Problems with Equity Release: Common issues reported include the compound interest on lifetime mortgages, decreased inheritance for heirs, and the potential impact on means-tested benefits.
Why Equity Release is a Bad Idea: For some, the long-term costs and implications might outweigh the immediate benefits, especially if alternative financial solutions are available.
Equity Release on a Second Home: Most equity release schemes are designed for primary residences. Releasing equity on a second home might be more challenging and would require specialized products.
Can You Get an Equity Release on a Retirement Flat?: Yes, but the choice of providers might be limited, and specific criteria would need to be met given the unique nature of retirement flats.
Equity Release “No Early Repayment Charges”: Some equity release products come without early repayment charges, offering more flexibility to the homeowner. However, these products might have other terms and conditions that need thorough scrutiny.

Equity release presents a vital solution for homeowners seeking to unlock the capital tied in their homes. However, given the long-term nature and potential implications, careful consideration, consultation, and comparison are crucial. Whether you’re under 55 or over, understanding all available options and their ramifications will ensure a decision that aligns with your financial goals and circumstances.

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