This article features an overview of the different equity release companies and the types of services that they offer.
In this article, you will be able to find details about the main equity release providers along with the different types of equity as well as various factors such as the interest rate that is offered. Read on to find out more about the best equity release companies and how they can help to create a home reversion plan.
Here is a short video that explains what equity release is.
Make sure that you take the time to check out different options and make a comparison for the interest rates and services that are offered. Make sure that the company is regulated by the financial conduct authority and that they come highly recommended by those in the know.
These leading Equity Release providers have won several awards for excellence and have been serving people in the United Kingdom for more than 320 years since being established in 1696.
Aviva has more than 15 million customers in the United Kingdom alone, while in recent years they have also expanded to other parts of the world. while the company offers a wide range of insurance solutions, they are real experts when it comes to equity release.
The Aviva – Lifestyle Flexible Option mortgage rate is 4.14% combined with 4.30% APR.
The company was founded back in 1998 and is one of the longest-running equity release company in the United Kingdom.
The company has won an impressive number of awards for excellence over the years such as Best Home Reversion Provider, which they received for nine years in a row.
People who wish to release cash through a Bridgewater Equity Release Lifetime Mortgage must be at least 65 years old and there needs to be worth at least £120,000.
Applicants need to release a minimum of £25% of their property or release £25,000. I
n terms of interest rates, the company is one of the industry leaders with 0.00% mortgage interest and 0.00% APR.
More than a million people throughout the United Kingdom have been assisted with their release equities by the knowledgeable team at Key.
Key Retirement Solutions Ltd was established back in 1998 and their product offering has rapidly expanded to match their ever growing customer base. The staff are dedicated to finding the latest financial products to help their customers to enhance their retirement.
The company’s current mortgage rate is 6.1%.
Offering retirement solutions since their establishment in 1965, Hodge Lifetime combines expert knowledge with dedicated and personalised customer service that helps to put clients at their ease.
People who are focused on finding low interest rates are sure to be impressed by the Flexible Repayment Plan that comes with no early repayment charges, while the standard mortgage rate is 4.35%.
This leading financial services brand focuses solely on providing comprehensive retirement solutions and one of their most popular products are their interest only lifetime mortgage.
Just Mortgage Brokers was established in 2004 and are authorised and regulated by the Equity Release council. The Just Roll-Up Lifetime Mortgage rate is fixed at 5.29%. People who want to be able to take advantage of Just Lifetime Mortgages must be at least 60 years old and need to have equities of at least £70,000.
The company’s release mortgages are calculated on the value of the applicant’s property and release values start at £10,000. You can use an equity release calculator to work out what you could get.
This well known financial brand joined the equity release market in 2015 with a special range of interest only lifetime mortgage plans. People who wish to take advantage of these special services need to be living in mainland Great Britain and have a property that is worth at least £100,000.
The rate of the property rises to £150,000 for properties that were formerly owned by the council, the housing association or the Ministry of Defence properties, while the minimum age of applicants is 55 years old, which is significantly lower than the requirement of many competing companies.
The Premier Flexible Lifetime Mortgages rate is 3.65% with 3.70% annual percentage rate.
Also known as Liverpool Victoria, this is one of the main financial services firms in the United Kingdom and is authorised and regulated by the Equity Release Council. They are a chief provider of retirement and investment solutions and they entered the equity release market in 2002.
LV requires that the property of clients is worth at least £70,000 and they must be between 60 and 95 years old. The maximum that clients can release depends on the value of the property and their age and those who are 60 years old can release a maximum of 20% of their property value, while those who reach 95 years old can release a maximum of 55%.
The company’s Flexible Lifetime Mortgage is fixed at 6.04% combined with 6.20% APR.
The staff at More 2 Life are specialised and fully at home with helping customers from all walks of like to create their release plan.
The company was established in 2008 and quickly rose to become the third largest players in the lifetime mortgages market due to the innovative services and solutions that they offer.
The company sits on the board of the Release Council and has an excellent reputation for its customer service. The company’s current mortgage rates are 3.63% fixed and 3.76% Annual Percentage Rate.
Nationwide is the largest building society in the United Kingdom and boasts more than fifteen million loyal members.
While this company has been offering different types of financial planning for many decades, they only entered the Equity release market in 2017.
Nationwide has quickly risen to become one of the biggest providers of non-Lifetime Mortgages in England, while applicants need to be 55 or older in order to release equity with a Nationwide Lifetime Mortgages.
Nationwide’s equity release mortgages allow customers to release up to 90% of the value of their property and the current mortgage rates start from 3.8%
OneFamily was founded in 2015. It came about from a coming together of Engage Mutual and Family Investments. Since then they have quickly risen to become a popular provider of different types of equity.
The company, like other equity release providers, is regulated by the financial conduct authority and has received a 5-star rating from MoneyFacts for its interest only lifetime mortgage packages.
People who wish to apply for one of these special mortgages need to be at least 55 years old. As part of the celebrated Lump Sum Voluntary Payment Lifetime Mortgage, customers can choose to repay up to 10% of the initial loan amount every year without receiving an early repayment charge. The company’s current mortgage rate is 5.8%.
Also known as Canada Life, this prominent company offers a range of lifetime mortgages options, from a full Home reversion plan to specialised products where customers pay no interest during the life of the loan and types of loans that allow a flexible rate of interest payment.
Applicants need to be aged between 55 and 90 years old in order to release equity with the Retirement Advantage plan and the property needs to be in Great Britain. The company’s current mortgage rates are 5.4%
These major equity release providers specialise in release equity as well as other types of equity and have a good reputation for providing their customers with detailed and comprehensive advice.
The company was established more than fifty years ago and requires that clients be at least 55 years old to take advantage of their special equity services. The company’s current mortgage rates are 5.2%
To help our site users you can have a free consultation with an equity release specialist to help you better understand how it works and what your options might be.
To do so you can book an appointment directly using the calendar below. Just pick your preferred time and date and someone will call you to help.
An equity release calculator will tell you how much money you could receive as a tax-free lump sum. The amount is usually dependant on your age and the value of your house.
Interest rates vary and can be anywhere between 3% and 7%. You can call us on 0800 953 3792 and get information on the latest deals, as they can change every day.
Yes, the money you receive is tax-free. However, if you are in receipt of means-tested benefits then these can be impacted. You can contact us on 0800 953 3792 and see if you would be impacted.
The money from equity release can be used for a variety of things. Typically it is used to pay for long term care, modify your home to help with later life living or even to treat yourself to a holiday of a lifetime and help your family financially.
The most popular type is called a lifetime mortgage. If you are over 65 then a home reversion plan might be a better option, Get in touch with us and we will be able to tell you what we think would be best for you.
1 – What is an equity release calculator
2 – What sort of interest rates are applied to equity release mortgages?
3 – Is the money from equity release tax-free?
4 – What can you use the money from equity release for?
5 – What are the different types of equity release mortgage?