The Legal & General Flexible Yellow Lifetime Mortgage scheme is specifically designed for those looking for one of the lowest equity release interest rates, coupled with the flexibility of a voluntary repayment scheme. It offers a higher maximum release than its Pink counterpart, but Yellow does come at the expense of a slightly higher interest rate.
The minimum property valuation applicable to this Flexible Yellow Lifetime Mortgage is £100,000, with a figure of £150,000 for ex-council properties. A maximum property valuation outside London is £2m, with properties in London being acceptable upto £4m. Please contact us on Freephone 0800 678 5955 if your valuation is higher.
The location of the property, which must be a main residence, needs to be situated in England, Wales or mainland Scotland. For flats & maisonettes Legal and General will only make their calculations based on 85% of the current market valuation. Additionally, should the property type be leasehold, then the minimum number of years remaining on the lease must be at least 185 years.
The L&G Flexible Yellow Lifetime Mortgage is available on both a single and joint life basis. The minimum age of the youngest homeowner starts from age 55, with a typical maximum age of 90. In certain circumstances an age of 90+ can be acceptable - please contact the team if so on Freephone 0800 678 5955.
The minimum loan for this plan is £10,000 with a maximum release of £750,000. For loans greater than £750k,000, bespoke quotations are available via Equity Release Supermarket. Please call Freephone 0800 678 5955 for a personalised Key Facts Illustration.