As experts in the field of equity release, our goal is to help you, UK citizens of all ages, to prepare for your financial future.
We’re here to help you discover:
- The best UK home reversion & retirement mortgage providers as of Oct 2021.
- Who to turn to for home reversions or retirement mortgages.
- The companies that offer the best home reversion scheme options.
Therefore, our team of professionals has combed the market and compared plans by all regulated providers, as well as those that aren’t. Through our research, we’ve put together this up-to-date list.
Now, you must be wondering, who are the top equity release providers in Oct 2021?
Let’s find out now!
Top UK Home Reversion & Retirement Mortgage Providers in Jan 2022
#1. Bank of Ireland
First founded in 1783, the Bank of Ireland has retirement mortgage plans through the Post Office Retirement Link.
They also offer lifetime mortgages, giving you numerous options to consider.
Their plans include:
- Lump-sum
- Drawdown
- Interest-only
- Home reversions
#2. Beverley Building Society
Beverley Building Society is one of the oldest societies, having being established in 1866.
If you’re over 55, you can sell a percentage of your home to unlock up to 55% of the valuation.
#3. Bridgewater
Owned by the Retirement Bridge Group owns Bridgewater Equity Release Limited. As a huge company, they have a range of home reversion schemes on offer.
If you haven’t released 100% of the equity available, Brightwater gives you a chance to release more equity at a later stage.
#4. Buckinghamshire Building Society
The Buckinghamshire Building Society was established in 1907. Their RIO’s are available for customers over the age of 55, and you can borrow up to 60% of the value of your property.
The plan you opt for will depend on the minimum loan available. This amount ranges from £25,000 to £50,000
#5. Crown
Crown is the founding director of SHIP, the predecessor of the Equity Release Council. They’re still a member of the council.
If you’re over 65, you can qualify for one of their home reversion plans. You can select a lump sum or monthly payments.
#6. Family Building Society
Partnered with The Equity Release Experts to offer sound advice, the Family Building Society was founded in 1896.
They currently offer their professional service to over 47,000 clients.
#7. Hanley Economic Building Society
Hanley Building Society was first established in 1854. Their retirement interest-only mortgages (RIO) and the minimum age amount is 55.
You can take out a loan to the value of £10,000 to £750,000, and their fees are fixed. You can borrow between 50% and 65% of the valuation of your home, depending on your circumstances.
#8. Hinckley and Rugby Building Society
Hickley and Rugby Building Society has offered excellent customer service since 1861 and have mortgages available for individuals over 75.
They care about their customers and are all about flexibility.
#9. Hodge Lifetime
In addition to their lifetime mortgages, Hodge also has RIO mortgages where you can unlock up to 75% of the value of your home.
#10. Ipswich Building Society
Founded in 1975, Ipswich Building Society has a range of RIOs to choose from. You can repay these loans over 40 years.
Great news!
They have a 50% discount on interest rates for the first 2 years of your plan.
#11. Leeds Building Society
Leeds Building Society was first established in 1875 and gives you the chance to borrow up to 75% of your LTV. You can select a 2 of 5-year fixed-rate mortgage or an RIO.
The Society was awarded the Commended Badge by Moneyfacts Consumer Awards as the High Street Savings Provider of the Year (2021).
#12. Mansfield Building Society
Mansfield Building Society is one of the oldest societies out there, having being established in 1869.
The Mansfield Building society has 7 products for retirees. You’ll need to pay back all mortgages by the age of 85.
#13. Marsden Building Society
The Marsden Building Society was founded in 1860 and offer the following mortgages for borrowers up to 90:
- Retirement interest-only mortgages
- Repayment mortgages
#14. Newbury Building Society
The Newbury Building Society is a proud mutual company with over 160 years in the business.
They can assist you with an RIO if you’re between the ages of 60 and 90.
#15. Penrith Building Society
The Penrith Building Society was founded in 1877.
Their RIO products allow homeowners over the age of 55 to borrow up to 50% of their estate’s valuation.
#16. Scottish Building Society
Founded in 1848, the Scottish Building Society is proudly the oldest of its kind in the world.
Their RIO products cater to homeowners over the age of 55.
#17. Swansea Building Society
If you’re over 55, this society established in 1923 could loan you a minimum of £18,000.
You can take out a loan with Swansea Building Society that needs to be paid off by your 85th birthday.
#18. Tipton and Coseley Building Society
Tipton and Coseley Building Society provide over 55’s with RIOs and later life lending plans.
Their plans include great features like 5-year fixed rates or 3-year discount plans.
