Equity Release Oxfordshire
Author: Paul Murphy Later Life Finance
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Who are the top equity release companies in Oxfordshire?
Are you considering unlocking tax-free wealth from your home in Oxfordshire?
Whether you are gifting an early inheritance, repaying your existing mortgage or boosting your retirement finances, flexible lifetime mortgages are available to help with your plans.
The range of equity release companies is quickly growing with increased demand for financial freedom in our golden years.
The leading providers (Aviva, Royal London, Liverpool Victoria (LV=), Legal & General, More 2 Life, Canada Life, Just (formerly Just Retirement), Standard Life, Scottish Widows, Crown, and LiveMore) consistently offer competitive deals (interest rates, plan flexibilities, cashback incentives) and excellent customer support (advisers, online resources, helplines)
Later Life Finance provide expert advice and a whole of market, independent broker service to source the best deal.
Most lenders require customers to deal with a specialist broker, which also ensures you’re accessing expert advice. Later Life Finance compare deals from all lenders to find your best solution.
Top Reasons for Equity Release in Oxfordshire (Top 10)
Who are the best lifetime mortgage providers in Oxfordshire (Top 10)
Canada Life Home Finance:
Canada Life have a flexible repayment option which allows some or all of the monthly interest to be repaid to help reduce the effect of compound interest. Up to 10% of the sum borrowed can be repaid per year, which is a standard feature amongst equity release mortgage lenders.
They have fixed early repayment charges, which compared to many of the other lenders available are very low.
To use our equity release calculator without providing all your personal details, you can decide whether you want to progress your enquiry further without any pressure or hassle.
Canada Life also offer a feature called ‘downsizing protection’, which offers added flexibility for moving home and settling the plan early. This is popular with our clients based in the South East looking for equity release in London but with the flexibility to downsize when they are ready. .
Aviva
The large insurance and equity release company Aviva actually lend their own funds, which means they can be more flexible with lending and will consider properties other lenders may not.
They have a flexible repayment option which allows some or all of the monthly interest to be repaid to help reduce the effect of compound interest, up to 10% of the sum borrowed can be repaid per year.
Legal & General Home Finance
Legal & General offer Defaqto 4-star rated lifetime mortgages.
in 2023 Legal & General launched the first official interest only lifetime mortgage for homeowners aged 50 and over.
They also offer a retirement interest only mortgage (RIO) and are one of the largest interest-only lifetime mortgage providers in the later life mortgage market.
Just (JRL Group)
Just are known for their high loan to value percentages of lending. They offer a lifetime mortgage that lets you release a one off lump sum or an initial lump sum and extra cash when you need it.
They have flexible mortgages that allow you draw down money as and when you need it.
They don’t provide reversion mortgages, however they have a range of lifetime mortgages to compare.
They offer a flexible repayment option which allows some or all of the monthly interest to be repaid to help reduce the effect of compound interest. Just also offer a medically enhanced lifetime mortgage.
Pure Retirement
Established in 2014, Pure Retirement offer equity release plans and have flexible mortgages that allow you draw down money as and when you need it.
They have several lifetime mortgage plans, including Sovereign, Emerald and Classic range.
They offer a flexible repayment option which allows some or all of the monthly interest to be repaid to help reduce the effect of compound interest. Up to 10% of the sum borrowed can be repaid per year.
Livemore
LiveMore was founded in in 2020 and now offer RIO and lifetime mortgages, with high loan to values, competitive interest rates to compete with the top lenders.
Providing retirement interest only and lifetime mortgages, Livemore are quickly gaining a reputation for efficiency and flexibility in the later life mortgage market.
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Liverpool Victoria
LV= offer flexible equity release plans that allow you draw down money as and when you need it.
They offer a flexible repayment option which allows some or all of the monthly interest to be repaid to help reduce the effect of compound interest. Up to 10% of the sum borrowed can be repaid per year.
Liverpool Victoria have fixed early repayment charges compared to many of the other lenders available.
More 2 Life (Best for range of funders)
More 2 Life offer equity release plans include enhanced terms for certain medical issues, which could increase the level of lending available.
They now also encompass Standard Life’s Horizon plan range due to Standard Life choosing to incorporate their plans under the More to Life brand.
Existing Standard Life customers can continue servicing their plans as normal, but through More to Life.
Crown (Best equity release home reversion provider).
Crown are an equity release home reversion plan specialist.
A home reversion plan involves selling a share of your property, as opposed to a mortgage where you retain full home ownership.
This arrangement is more permanent than a lifetime mortgage and are difficult to reverse once they are arranged.
Royal London
Royal London have been working on a range of products to help advisers when discussing the use of property wealth in retirement.
The range will be supported consistently good customer service, competitive pricing, and flexible underwriting criteria, all underpinned by the strength of the Royal London brand”.
Royal London are an established brand and offer flexible mortgages which allow you draw down money as and when you need it.
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Registered providers
Summary
Access to a qualified equity release adviser who are Equity Release Council registered will ensure you receive independent, expert advice.
Later Life Finance are members of the equity release council. To book an appointment with an expert without any obligation click here
Dealing with an adviser with access to the whole equity release market will enable you to access the best equity release companies and schemes available, which will help match your requirements with the most appropriate solution available and the best equity release company, provider and deal for your needs on an impartial basis as a specialist broker.