Retirement Mortgage Scotland

Remove tax-free cash from your house
Not necessary to make regular monthly payments
Use the cash for anything you like
Continue to stay in your home for as long as you like
Often used to help tax planning
All parts of the UK are acceptable including Northern Ireland
Non-standard property types are OK

If you don’t want a lifetime mortgage or equity release, and just want a normal interest-only mortgage at 3.97% regardless of your age please Click Here

Free No Obligation Quote
Release equity from:*
How Much Would You Like Release/Borrow?*
Please enter a number from 6000 to 2000000.
Estimated Value Of Your Home?*
Total amount of mortgage/loans you have on your home
About You
Please tell us about your self and what you want
Name*
First Last
Date of Birth*
Your Email Address:*
Phone Number*
First Line Of Your Address:*
Your Postcode:*

Not interested in equity release? Do you just want a conventional interest-only mortgage at 3.97% regardless of your age please Click Here

Free No Obligation Quote
Release equity from:*
How Much Would You Like Release?*
Please enter a number from 10000 to 2000000.
Estimated Value Of Your Home?*
Total amount of mortgage/loans you have on your home
About You
Please tell us about your self and what you want
Name*
First Last
Date of Birth*
Contact Phone Number:*
Your Email Address:*
First Line Of Your Address:*
Your Postcode:*

Equity Release Scheme Providers

Lifetime Mortgage from L&G
Stonehaven
Bower
Maximum cover Equity Release

It is often found to encounter people seeking out lumpsum lifetime mortgages, monthly payment life time mortgage or home reversion schemes, however, Lifetime Mortgage from L&G like AA equity release are keen to see evidence of your circumstances in the form of pension statements.

Downsides of Lifetime Mortgages

Monthly payment equity release can reduce the value of your estate. Interest-only lifetime mortgages may impact ability to get state benefits. You may need to pay a solicitor’s fee and you could be exposed to changes in interest rates with some products.

Legal and General

Just Mortgages

LV Lifetime Mortgages

Hodge Lifetime Retirement Mortgages

Legal and General

One Family Retirement Mortgages

More 2 Life Flexi Choice Drawdown Lite Plan
Pure Retirement Classic Voluntary Payment Super Lite
Nationwide Equity Release Plans
Lloyds Bank Equity Release
Royal Bank of Scotland Equity Release
Lloyds Bank Equity Release Plans
Saga Equity Release Plans
Aviva Equity Release Plans
Liverpool Victoria LV Equity Release Schemes
Nationwide Equity Release Plans
More to Life Capital Choice Plus Plan
Just Retirement Drawdown Lifetime Mortgage
Stonehaven Equity Release Plan
Lloyds Bank Equity Release
NatWest Interest Only Lifetime Mortgage
Saga Lifetime Mortgage

Pensioner Mortgage Scotland

Interest Only Lifetime Mortgages Scotland

Equity Release LTV Percentages

The more aged you are and the sicker you are the more tax free money you can release.

Small business owners detail likely with equity to release from their homes

Hospital activities Patchway
Operation of bus and coach passenger facilities at bus and coach stations Southwell
Operation of sports facilities Emsworth
Manufacture of other knitted and crocheted apparel Barking
Retail sale of automotive fuel in specialised stores Erith
Publishing of computer games Tickhill
Management of real estate on a fee or contract basis Meltham
Gambling and betting activities Madeley
Striking of coins Wallingford
Manufacture of medical and dental instruments and supplies Thorne
Casting of iron Hastings
Manufacture of plaster products for construction purposes Falmouth
Cargo handling for land transport activities Stroud
Other retail sale of new goods in specialised stores not commercial art galleries and opticians Ludgershall
Preparation and spinning of textile fibres Kettering
Motion picture production activities Tottenham
Growing of beverage crops Leyton
Regulation of and contribution to more efficient operation of businesses Bury St Edmunds
Manufacture of power-driven hand tools Seaford
Manufacture of breakfast cereals and cereals-based food Newport
Manufacture of motorcycles Bradley Stoke
Raising of sheep and goats Harrogate
Manufacture of fibre optic cables Barnsley
Growing of tropical and subtropical fruits Bridport

What percentage can be released?

50% monthly payment life time mortgage LV Liverpool Victoria
25% loan to value lump sum lifetime mortgages Newcastle Building Society
25% loan to value home reversion plans Scottish Building Society

The mortgage lender will want to know if the property is a Freehold house or a Leasehold flat and if the resident is an Private Tenant.

Areas where retirement mortgages are common

Stainforth
Burnham-on-Sea
Eastwood
East Retford
Shepshed
Conisbrough
Beaconsfield
Shefford
Farnham
Grange-over-Sands
Yate
Thatcham
Chesterfield
Wareham
Prudhoe
Southwick
Sawbridgeworth
Thatcham
Market Bosworth

Hard to finance home variants include properties in poor condition, age restricted properties, right to buy – properties in Scotland, commonhold properties and properties owned under any form of shared equity scheme.

Some of the most popular retirement mortgage products include Lloyds later life borrowing schemes, Barclays Bank retirement mortgages, Post Office interest only mortgages for people over 60, L&G mortgages over 70s and Nationwide retirement mortgages.

Hard to mortgage home types include eco houses and modern methods of construction, properties with single skin brickwork where the single skin comprises more than 20% of the surface area of the external walls, privately developed flats, maximum four storeys with a lift, freehold/feuhold flats (Scotland only) and basement or lower ground floor flats without level access to private or communal garden space.

Some of the most popular LTV ratios of Lloyds Bank later life mortgages for over 60s, Barclays mortgages for people 60 plus, Post Office remortgages for people over 50 years old, Legal & General interest only mortgages for over 60s near London, Bank of Scotland later life interest only mortgages over 70 and Nationwide Building Society over 60 lifetime mortgages no fees are 40%, 60% and 65%.

Challenging to mortgage property variants include properties with outbuildings used for normal domestic purposes (garage, workshop, stables, barn etc), properties with grounds in excess of five acres, agricultural use of the land and any outbuildings, properties that are being used for personal commercial use and properties adversely affected by existing or proposed issues including roads, rail, airports, power plants, power lines/pylons, wind turbines, sub stations, sewage works, quarries, fuel stations, refuse sites, sports grounds, noise, light or environmental pollution.

Challenging to finance property variants include properties will be assessed for flood risk, ground rent where the lease or any deed varying the lease provides for a ground rent exceeding, or where the escalating provisions would result in the ground rent exceeding £250 per annum (or £1000 per annum where the property is in Greater London), property is uninhabitable, cob property and concrete panel houses.

How much cash can I borrow?

You can get 70% of your home’s valuation. As an example, if your home is valued at £180,000 you can get £117,000.

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