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Bristol & West Equity Release Mortgage
Bristol & West Equity release mortgages are only available through suitably qualified intermediaries such as The Mortgage Warehouse.
When considering an equity release lifetime mortgage with Bristol & West , the following benefits are available.
- Fixed rate for the life of the loan
- Free Valuations (when special offer applicable)
- Lump sum release
- No Negative Equity Guarantee
- Portable within criteria
- No monthly repayments as interest is rolled up monthly and added to the loan
- Member of SHIP
Bristol & West Lifetime Mortgage Criteria
| Criteria Type | Description |
|---|---|
Applicant Details |
Minimum age: 60 (No maximum age). Maximum of two applicants (must be UK resident). Applications from a husband and wife must be on a joint basis. Joint borrowers do not need to be married. |
Power of Attorney |
Acceptable if there is an enduring Power of Attorney |
Deed of Consent |
Anyone living with the borrower in the property at completion who is aged 25 or over will need to sign a Deed of Consent. They will need to obtain independent legal advice before doing so, at no cost to Bristol & West. |
Term |
The anticipated term is the remainder of the life of the borrower(s). The mortgage must be redeemed when the last survivor:
Executors wishing to sell the house will be allowed up to 12 months to do so. In the case of the last surviving borrower going into long term care, we will allow 6 months to repay the loan. |
Further Advantages |
Available after 5 years |
Early Repayment Charges |
5% of the initial balance for the first 7 years. Early repayment charges will not apply if the mortgage is fully repaid as a result of:
|
Property Details |
Minimum property value: £50,000 Principal residence. The legal title must be in both names if this is a joint mortgage. England and Wales only, residential, owner occupied and of standard construction. Tenure: Freehold, Leasehold or Commonhold. For Leasehold, the lease must have an unexpired term of at least 85 years. The following property types will normally be excluded:
|
For advice on a Bristol & West equity release mortgage or any other lifetime mortgage please call 0800 801079 for immediate assistance from one of our specialist equity release advisers. Alternatively complete our Equity Release Mortgage Quote form and we will contact you with details of all the schemes available for you.