Equity Release Interest Rates

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Equity Release Interest Rates

Equity release plans enable those that are at or near retirement age to unlock some of the equity that is tied up in their property. Typically available for those aged 55 or over, there are various types of scheme that are available for property owners. Remortgaging to an interest only mortgage can prove a viable and beneficial option; lifetime mortgages offer the choice of a lump sum or an available line of credit via a drawdown mortgage.

Choosing between equity release rates best suited to you

Ensure that you choose the equity release scheme that is most appropriate for your circumstances. The following are the four main schemes that you can benefit from:

  • The lifetime mortgage provides a tax free lump sum and enables you to retain 100% ownership of your property. Repayments, including accrued interest, are made when you die and your property is sold.
  • drawdown lifetime mortgage is similar except that it offers greater flexibility. Rather than being forced to take all of your cash in one lump sum you can access the money as and when needed. This may mean that you accrue less interest.
  • An interest only lifetime mortgage provides you with a lump sum of cash but, instead of accruing interest you make regular repayments to cover the cost of interest. When you die, only the capital that you have borrowed will be taken from the sale of your property.
  • home reversion plan means that you sell some or all of the property. You will be allowed to remain in the property, rent free, but it will typically pass over to the lifetime mortgage company on your death.

Professional Guidance

Talk to a professional advisor if you are unsure exactly which of these equity release schemes is best suited to you. Our advisors are not only friendly but knowledgeable and helpful too. They will discuss your options and personal circumstances to ensure that you choose the right scheme for your requirements.

Compare Equity Release Rates

The equity release rate that you receive will have a big impact on the amount that you must repay when your property is sold. We compare the best equity release rates to ensure that you get the best deal on the most appropriate scheme for you. Typical rates have dropped in recent years and this means that you can really benefit you in the long run as it offers reduced rates and lower repayments. We make the process simpler by bringing together details of some of the best deals available.

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