Penrith Building Society Equity Release Reviews (Updated 2022)
Penrith Building Society Equity Release
I think you’ll agree with me when I say:
It’s REALLY hard to choose the best equity release provider with all the choices available.
Or is it?
Is Penrith Building Society equity release the best?The companies we profile, including Penrith Building Society are the best in the business to help you unlock the cash tied into your home.
Choosing the best equity release brand can be challenging! If you want to join the over 10,000 UK citizens who’ve unlocked equity this year, you’ll want to listen to this advice.
With so many brilliant options on the market, you could end up selecting the wrong equity release lender, only to regret it later.
Don’t worry; we’ve got your back. We’re here to share detailed information about the best equity release brands on the market, to help you make a sound decision.
On this page, we’ll be covering:
- Is Penrith Building Society the best option for you?
- The services and schemes that Penrith Building Society offers.
- How you can get in touch with Penrith Building Society.
We’ve spent endless hours gathering the latest brand information with multiple expert consultations and a detailed review of over 350 brands in the industry.
Let’s take a look!
Before You Start Reading….
Let’s See How Much You Can Release 👇
What Is Equity Release?
Equity release is an umbrella term for a later-life mortgage that allows you to unlock equity from your property while remaining in your home.
While there are plans with an optional loan or interest repayments, both are only due when you pass away or move to a long-term care facility.
The amount is usually covered from the sale of the home.
How Does Equity Release Work
If you (and your spouse) are 55 or older, you might qualify for an equity release loan. The age of the youngest homeowner will be considered. Furthermore, some schemes require you to be 60 or 65.
You might qualify for equity release if you own a home in the UK that is valued at £70,000 or more.
Equity Release Types
There are two equity release options available to you.
- Lifetime mortgage: is a mortgage secured on your property (provided it’s your main residence), while retaining ownership.
- Home reversion: is where you sell part or all of your home to a home reversion provider in return for a lump sum or regular payments. You have the right to continue living in the property until you die, but you have to agree to maintain and insure it.
The Most Popular Equity Release Uses
- Gaining access to tax-free cash to supplement retirement income.
- Paying off a mortgage, debts, or loans.
- Giving money to family members and children who might need an income boost.
- Taking a dream trip.
- Buying the car of one’s dreams.
- Renovating one’s home or garden, which also should increase the property value.
What You MUST Know About the Providers We Compare
- They’ve helped more than 1 million people decide whom to turn to when releasing equity from their homes.
- They’ve been responsible for organising 1 in 3 plans that the Equity Release Council
Is Penrith Building Society the right equity release provider to assist you and your family?
Are You READY to Find Out?
Are You Looking for the Penrith Building Society Equity Release Calculator?
Before you consider using the Penrith Building Society equity release calculator, we want you to know that we’ll probably be able to find you a better rate and that means a great saving!
How Much Can You Release?
Use the FREE Calculator Below 👇
Editorial Note: This content has been independently collected by the EveryInvestor advisor team and is offered on a non-advised basis. EveryInvestor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.