UK Property Equity Release Under 55 – Low Fixed Rates – New Lender July 2024

Do you need to raise money against your home with an equity release mortgage?

Are you under 55?

There is currently a massive demand for equity release under 55.  Bank base rates are still very low and could go up so you can borrow money very cheaply at a capped rate.

This can be used for:

• Debt consolidation
• Home improvements
• Buy-To-Let deposits
• Investment purposes
• Buying another home

As from July 1st 2024 there is a 4.42% capped rate, with a free valuation and no early repayment charges.

Please indicate your requirements by filling in the form below:

For Equity Release Under 55 why are the rates so low?

When you release money or transfer equity the lender will look at the quality of the collateral you pledge for the loan; your own home or investment property is good security as the UK property market is very strong for the mortgage lender.

If you can wait till you are over 55, you can get a retirement interest only mortgage, with a good loan to value ratio using an equity release specialist. Removing one lump sum with traditional equity release products, Barclays equity release, Natwest equity release, Lloyds equity release, Halifax equity release under 55 or other alternatives to equity release could affect your means tested benefits.

 

How is equity release for under 55 achieved in 2024?

Jubilee has lenders that offer equity release under 55 with very high acceptance rates. The amount you can release depends on many factors, and the underwriting team at these lenders can often be talked into offering terms that are better than the ones published to the introducers.

Can I get equity release under 55 years old?

Yes, with Jubilee lenders that are not featured on the main comparison sites, you can get equity release under 55.

How much equity can I release from my home?

Equity release under 55 can release a significant amount of money from your home. However, if you want to release most of the equity from your home, the best way to do so is to get a remortgage or add a secured loan to your home while keeping your existing mortgage.

What is the minimum age for equity release?

In principle, it’s 30, but it depends on the amount of equity in your home and the loan to-value you require.

Can I get equity release on jointly owned property?

Yes, with Jubilee lenders you can get equity release on jointly owned property, its true any age equity release.

Do the current Jubilee equity release lenders have early repayment charges or redemption penalties and is equity release under 55 portable if I move house?

Our equity release under 55 is portable and it has no ERC or redemption penalties.

Are the interest rates for equity release for younger people similar to traditional over 55 equity release mortgage options?

The rates from Jubilee lenders are similar to other traditional equity release lenders.

Can I get equity release under 55 on a buy to let property?

Yes, Jubilee lenders do offer equity release on buy to let properties.

I suspect interest rates are going to go up. Can I get fixed rate equity release?

Yes, the Jubilee lenders do fixed and capped interest rates for the life of the loan.  Many people are looking to release equity from property under 55 – this type of equity release scheme can be very cost effective.

To Lock-In A Fixed-rate Equity Release Under 55 Lender Before Rates Increase Please Indicate Your Requirements Below:

 

The options below are relevant to people looking to achieve a very high loan to value their homes and require income.

One option available to those under 55 to help increase their cash flow is to take out a second mortgage against the home. This is an effective way of using a homeowner’s property to raise the cash needed for several projects, including home renovations, required repairs, or even making large purchases.

Option 2 – Secured Loans – Access Money In Property Under 55 With A Second Charge – No minimum age for equity release by this method

Secured loans are another option for those who are too young to qualify for a lifetime mortgage or other equity release scheme. Secured loans are loans that are secured with the borrower’s property.

From the borrower’s standpoint, the difference between a secured and unsecured loan is the overall interest rate – since lenders have a guarantee that the loan will be repaid, in repossessing the home, they are more likely to offer much lower interest rates to borrowers who choose secured loans.  This is very different from an equity release mortgage under 55.

Secured loans also have longer repayment terms than unsecured loans, giving borrowers more time to straighten out their finances and pay off the loan. You will need good proof of income, and most lenders will look for non-standard construction property titles. They will also look very carefully at the value of your property.

Although these may seem like great benefits added to low interest rates, the longer the loan takes to pay off, the more the interest rates will add up over time. This means the borrower could be paying back significantly more than the borrowed amount at the end of the loan’s terms. This is why lenders are comfortable giving out vast sums in secured loans.

Another vital point to think about when considering applying for a secured loan is the security used to take out the loan will be at risk. More traditionally, lenders will only allow a borrower to use the owned property as security – although, in some specific circumstances, other assets can be used.

This means that should the borrower not be able to make his or her monthly payments toward repaying the loan, the lender will have the right to repossess the property to recover the money at risk.  The most popular form of options available could be 2nd mortgages authorised and regulated by the financial conduct authority. You can use this type of product to repay an existing interest only mortgage.

What about Unsecured Loans instead of Equity Release Under 55?

Lenders may also offer the borrower an unsecured loan option for smaller amounts of funding. If you are looking to borrow less than £25,000, an unsecured option will be the better choice, 100 percent of the time.

Unsecured loans do not put the borrower’s home or other significant, essential assets at risk. A secured loan is the better option if the amount needed is over £25,000. It allows the borrower to spread out the cost of this financing over a more extended period, which is not available through an unsecured loan.

The older someone is, the more cash he or she can release from the property’s value. But where does that leave those under 55, especially when demand for equity release under 55 is so high?

Does Jubilee do Equity Release at the age of 55?

Yes, Jubilee does equity release at 3.9% MER. Jubilee Equity Release can have an LTV of 55%.

Other key things to consider:

• Is the lender part of the equity release council?
• What are the lender’s equity release age requirements?
• What is the maximum age limit?
• What are the legal fees?
• If there is one, what is the repayment strategy?
• Does a poor credit history effect arrangement fees, the equity release application or the ability to get competitive interest rates?
• Could family members object to interest payments on the later life debt secured on the family home?
• A mortgage advisor could tell you most equity release products require stable income of both homeowners.
• Some grade ll listed houses could be excluded
• The more equity you have the higher the loan amount can be
• Most equity release products have early repayment charges which could impact your financial planning
• All homeowner loans and other secured finance rely on the property’s market value and the equity released can help you repay other debts
• As your home is a valuable asset the financial adviser will try and get an estimated value of your home first, before getting a lender to do a more formal free valuation
• It can take just a few minutes for financial advisers to give uk homeowners advice on making an informed decision at competitive rates
• Before releasing money, you should look at your monthly income, as some plans require monthly repayments, and the financing needs to be tax-efficient with no impact on your state benefits.
• When there are joint owners, not just the youngest applicant need to sign the papers, all the owners need to sign.
• When considering your financial situation, property prices can go down as well as up, and your property type can be very important
• Your available options detailed in your personalised illustration could include types of equity release like home reversion plans to get extra cash, but home reversion schemes are not ideal for many people.
• Many lenders think many homeowners use equity release to repay an existing mortgage and very rarely want to borrow money to just waste it.
• Could you be moving home soon?
• Do you have other debt or other factors for your property ladder aspirations?

A home reversion plan involves a homeowner selling their property using a home reversion plan so they can live rent-free. The timing of any entry to long-term care can be key to a sole applicant and the impact on a family member.

Does Jubilee allow you to release equity in house under 55?

Yes, you can release equity in house under 55 at 4.07% MER. Be cautious you don’t incur early repayment charges with your existing lender.

Does Jubilee do Equity Release at age 55, who is the best equity release provider?

Yes, Jubilee Equity Release at age 55 is 4.84% APR.  You can get an equity release plan after buying a new home or on an existing property.

What are the current Jubilee interest rates for equity release to get a tax free lump sum?

Jubilee rates for equity release are 4% MER.

Does Jubilee have favourable reviews for equity release?

Yes, Jubilee reviews are superb for equity release.

Does the Jubilee equity release calculator show the loan to value?

The Jubilee equity release calculator shows a favourable loan-to-value of 60%. This can be a substantial cash lump sum.

Does a Jubilee equity release advisor charge a big fee?

No, Jubilee equity release advisors are free.  We allow you to access money tied up in your home at aged 55.

Does Jubilee do home equity loans?

Yes, Jubilee home equity loans are 4.27% MER in 2024. The monthly repayments will be affordable.

Does Jubilee do home equity lines of credit?

Yes, Jubilee home equity lines of credit are 4.14% APRC.  Your credit status is essential for HELOC.

Does Halifax do equity release under 55, and does the no negative equity guarantee apply?

Yes, Halifax equity release under 55 is a very competitive rate.  You can get a large lump sum from Halifax Building Society equity release under 55.

Can I release equity from property under 55 – bad credit equity release?

Yes, equity release at 55 happens often in 2024.  There are two maximum loan-to-value equity release providers.

Do equity release schemes for under 55s have significant lenders fees?

No, equity release schemes for under 55s have no lenders fees or no brokers fees.  You can make a monthly payment if you prefer.

Is equity release for younger people a higher rate than for older people?

No, the fixed interest rates are very similar.  Jubilee also offers lifetime mortgages and other equity-release products.  Nothing on this site should constitute financial advice about equity release plans or personal loans.

Your equity release options could be ideal to repay debt consolidation loans for lower monthly interest repayments.

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

Yes, the Jubilee equity release calculator under 55 clearly shows how much you can borrow at a good fixed rate.