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                           Discover Freedom In Retirement With a Mortgage Over 60

Mortgages For Over 60s and 70s

 

 

Mortgages for the over 60s & 70s are flexible and can provide a tax free cash injection to provide financial security in your home for the years to come to help beat inflation & enjoy your retirement. 

Plans are flexible, with repayments made on a voluntary basis, and you can still leave an inheritance.  

Interest rates can be fixed for life for peace of mind, and you can raise money for any
purpose. Compare My Equity puts you directly in touch with a qualified expert who will explain your options, with no obligation. 

We take the hassle out of the process by cutting out the call centres. You speak with a fully qualifed adviser, who will speak ‘plain English’ and tell you what you need to know, without any hassle. Straightforward information, guaranteed!

Request Your Mortgage Quotes And Access Your Free Home Valuation & Review With An Expert. 

expert@comparemyequity.co.uk

0800 2465228

We can save you money with exclusive plans through our independent equity release advisers who have highly rated equity release reviews across the industry

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Mortgages for the over 60s & 70s allow equity (the cash in your home) to be enjoyed as you wish. If you are over 55 and a homeowner then you are likely to be eligible 

Increasingly people over 60s & 70s are using Mortgages to access their equity to gift an early inheritance to family members and for estate planning

Compare My Equity provide an independent market search of your options to ensure you have access to the complete range of the best mortgages for the over 60s and 70s

Using the equity in your home can provide many benefits to really enjoy the cash by arranging an over 60s mortgage.

Request further information and a qualified expert will explain all your options. 

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Frequently Asked Questions

Can you get a mortgage over 60 or 70 years old?

Mortgages for the over 60s and 70s are available, yes. The high street lenders such as Santander, Barclays and Nationwide are not offering lifetime mortgages with voluntary repayment options. Interest only mortgages ending and a lack of options from the banks are increasing demand for mortgages for over 60s and 70s. 

Lifetime mortgages are a solution for people over 60 and 70 looking for a remortgage solution to raise money from your home to release equity to enjoy your retirement in financial security. 

What’s the oldest age you can get a mortgage, can i get a 30 year mortgage at 60?

Many lenders only allow up to age 70. Lifetime mortgages are more flexible and have no upper age limit, they are repaid from the sale of your home when you eventually pass away or go into care. 

What’s the difference between Equity Release & Lifetime Mortgages?

Equity Release is simply a term for raising equity. An equity release lifetime mortgage is the most common method of safely accessing this equity from your home, tax-free.

What are the typical interest rates available?

Equity Release interest rates are starting under 3% fixed for life, depending on the amount of money required as a lump sum and also any reserve facility taken. 

The initial lump sum has a lifetime fixed interest rate which is agreed at the time of taking an equity release plan. 

The reserve, also known as a drawdown facility is charged at the interest rate applicable at the time of borrowing the further funds. 

Are lifetime mortgages safe?

All lifetime mortgage UK lenders are all fully regulated by the financial conduct authority (FCA).

Your lifetime mortgage quotes will only be from Equity Release Council Plans for your added peace of mind. The council are the industry trade body who provide several codes of conduct for your added security, including the essential guarantee you will never enter into negative equity. 

Can I make repayments with equity release?

Usually you can repay up to 10% of the amount borrowed within any 12 month period. This is on a flexible basis and completely voluntary. 

How do I find the most suitable option for me?

Understanding your options and suitability is important to making the best decision for you.

We can put you in touch with an expert who will review and assist with this process to compare equity release schemes and interest rates for you. We compare the entire equity release market to find your best solution.  

The specialist broker we put you in touch with operate a zero-pressure policy, and will answer all your questions to ensure you are fully informed with no commitment.

Do I have to sell my home?

The most common form of raising equity is a lifetime mortgage where you maintain 100% full home ownership for the rest of your life, or joint lives where applicable.

Importantly, you can still move home if you wish and repay or move the mortgage with you. 

Can I use my equity for early Inheritance or for tax-planning?

An equity release lifetime mortgage can be used for estate planning purposes. When you request your quotes, we will put you in touch with an expert adviser to discuss this in more detail.

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Request Your Over 60s Mortgage Quotes today

Mortgages For The Over 70s

Obtaining mortgages at and over age 60 is not as complex as most people believe. In fact, getting a mortgage for the over 60s is straightforward with Compare My Equity as we search the whole market for your best deal. 

High street banks including Santander, Barclays and Halifax do not offer lifetime mortgage solutions for people in their 60s and 70s. 

Interest Rates on the mortgages are mainly on a fixed basis, and many lenders offer fixed interest rates for life. 

Mortgages for the over 60s interest rates in 2021 are at record-low levels starting under 3% which has enabled many over 60s to enjoy the equity in their homes to utilise. 

The mortgages can be used to gift an early inheritance, for home improvements or to supplement income into the retirement years. 

The money is tax-free making it an efficient method of raising funds.  We search the entire marketplace and provide you with detailed quotes and guides to enable you to make the right decision.

Getting a Mortgages over 70 With Compare My Equity

Mortgages for over 60s are becoming increasingly popular thanks to the innovation from lending providers offering more flexible terms with competitive interest rates.  

Mortgages for the over 60s are an important tool in retirement planning to provide a source of income and capital thanks to the growth in property prices over the past 50 years. Getting a mortgage over 60 through compare my equity is simpler than you may expect as we access all lenders and plans to provide all your options, and we are fully independent. 

Compare My Equity provide a search and quotation service to provide you with access to all the information you need to make an informed choice on your best mortgages for the over 60s. Request a quote and a qualified expert will be in touch.  

Equity Release For Care Costs

Request A Quote & Receive Your Free Initial Review With An Expert!

Using equity release for care costs provides the flexibility to fund long term care  with the flexibility to take the amounts needed on a regular basis or as a one off lump sum, tax free and without any income checks. 

Request your quotes and we will provide you with expert information and personalised illustrations on all your options with an independent adviser. 

Request your quotes & discover the flexible options for funding care costs

 

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Can Equity Release Be Used For Care Home Fees?

Equity release can be used for care home fees as long as one person remains living in the home property as their main residence. Long term care in the home is also becoming more popular and using your equity to fund this is a logical solution for many people. 

As long as any existing mortgage is repaid, unlocking your tax-free equity can be used for any purpose including for care home fees or funding care in the home. 

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Care Costs From Equity Release

If your existing mortgage is due to be repaid or you could benefit from reducing your monthly outgoings, you can use an equity release mortgage to refinance your current arrangement. 

To understand your best equity release mortgage options, we put you directly in touch with trusted industry experts for independent advice and quotes without any commitment. 

Have any questions? Get in touch with an expert 

expert@comparemyequity.co.uk

0800 2465228

 

Releasing Equity For Long Term Care At Home

Many over 55s are using Equity Release products to pay for long term care Use our quotation service to access interest rates and providers. 

Equity Release mortgages can also be used to gift money from your home to your family as an early inheritance, either for a home deposit or for any other purpose.  

Equity release mortgages can be used to fund care in the home and long term care costs

Equity Release provides access to your accumulated equity and are flexible putting you in total control of your options whilst retaining full home ownership for life. 

Compare My Equity provides you with full access to all your equity options through trusted experts without any obligation.

Your Equity Release Product Questions Answered

What’s the difference between Equity Release Mortgages and Equity Release?

Equity Release is simply a term for raising equity. An equity release mortgage is the most common method of safely accessing this equity from your home, tax-free. Many people use the equity release mortgages to pay off a current mortgage. 

Are equity release mortgages safe?

All UK equity release mortgage lenders are all fully regulated by the financial conduct authority (FCA).

Your equity mortgage quotes will only be from Equity Release Council Plans for your added peace of mind. The council are the industry trade body who provide several codes of conduct for your added security, including the essential guarantee you will never enter into negative equity. 

Can I make repayments on an equity release mortgage?

Usually you can repay up to 10% of the amount borrowed within any 12 month period. This is on a flexible basis and completely voluntary. 

How do I find the most suitable option for me?

Understanding your options and suitability is important to making the best decision for you.

We can put you in touch with an expert who will review and assist with this process.

The specialist broker we put you in touch with operate a zero-pressure policy, and will answer all your questions to ensure you are fully informed with no commitment. They will discuss the best equity release mortgage with you and the alternative options to ensure suitability. 

Do I have to sell my home?

The most common form of raising equity in the UK is a mortgage where you maintain 100% full home ownership for the rest of your life, or joint lives where applicable.

Importantly, you can still move home if you wish and repay or move the mortgage with you. 

Can I use my equity for early Inheritance or for tax-planning?

An equity release mortgage can be used for estate planning purposes. When you request your quotes, we will put you in touch with an expert adviser to discuss this in more detail.