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.

 

 

• 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

 

% of property value			% of property value			% of property value
Age	Lifetime	Lifetime Extra	Age	Lifetime	Lifetime Extra	Age	Lifetime	Lifetime Extra
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.