Mortgage Express Equity Release Mortgages
Mortgage Express (part of Bradford & Bingley PLC) has developed Equity Release Mortgages to help you plan for the future by making your biggest asset – your home – work for you by releasing up to 45% of its value as a lump sum, which you can use for whatever you like.
The names given to the Mortgage Express equity release mortgage range are Lifetime Mortgage and Lifetime Mortgage Extra.
With Mortgage Express Lifetime Mortgages, affordability does not apply to their Lifetime and Lifetime Extra mortgage products as the interest is added to the loan balance each month, with no need to make interest and/or capital repayments for the life of the loan.
Mortgage Express are a a member of Safe Home Income Plans (SHIP), which was set up to promote fairness and clarity for customers taking out equity release mortgages like this Lifetime mortgage.
Key features of the Mortgage Express Lifetime Mortgage
- The current loan offering is on a competitive fixed rate for the duration of the
mortgage term. Interest is rolled up monthly and added to the loan throughout the
term. No monthly repayments are required - The loan is not payable until the last borrower living in the property either dies or the property ceases to be their main residence
- Lump sum drawdown and further loan facilities available. Subject to terms and conditions
- “No negative equity guarantee” which ensures that the most borrowers (or their
estate) will ever owe is the value of the property. - Loans to value based on age*
- Portability option available, subject to criteria
Equity Release Mortgages - Lump Sum % available
% of property value |
% of property value |
% of property value |
||||||
Age |
Lifetime |
Lifetime |
Age |
Lifetime |
Lifetime |
Age |
Lifetime |
Lifetime |
60 |
18 |
25 |
71 |
27 |
36 |
81 |
37 |
46 |
61 |
18 |
26 |
72 |
30 |
37 |
82 |
37 |
47 |
62 |
18 |
27 |
73 |
30 |
38 |
83 |
37 |
48 |
63 |
20 |
28 |
74 |
30 |
39 |
84 |
37 |
49 |
64 |
20 |
29 |
75 |
32 |
40 |
85 |
40 |
50 |
65 |
22 |
30 |
76 |
32 |
41 |
86 |
40 |
51 |
66 |
22 |
31 |
77 |
35 |
42 |
87 |
42 |
52 |
67 |
25 |
32 |
78 |
35 |
43 |
88 |
42 |
53 |
68 |
25 |
33 |
79 |
35 |
44 |
89 |
42 |
54 |
69 |
25 |
34 |
80 |
37 |
45 |
90+ |
45 |
55 |
70 |
27 |
35 |
|
|
|
|
|
|
For advice on a Mortgage Express 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.





