Age Partnership access sub 3% fixed interest rate
This ground breaking low fixed rate is available to borrowers for a limited time only through the UK’s number one equity release advisors, Age Partnership.
Dan Baines, Director of over 50s finance specialists, Age Partnership, said: “With an annual interest rate of 2.99% that is fixed for life, this new plan represents an extraordinary milestone in a market that has seen interest rates falling over recent years to what is now an all–time low.”
“Perhaps the fact that we are in low–rate environment more generally means that the remarkable value offered by some of today’s equity release plans goes unnoticed, but with this new breakthrough plan offering the first ever sub–3% rate, the home certainly has now become a source of retirement income that cannot be ignored.”
“We are extremely proud to be exclusively bringing this new plan to the market.”
As well as the low rate the exclusive plan also comes with the ability to make monthly repayments of up to 10% per year without any early repayment charges. This reduces the cost of the plan further for those who wish to use this feature.
This low fixed rate of 2.99% is available to borrowers with a max loan amount of £100,000 and has a £1,800 product fee. However, Age Partnership will search the whole of the market to ensure that the plan they recommend is the most suitable for their needs.
Equity release enables homeowners aged 55 or over to access some of the money from their home and with a lifetime mortgage, a type of equity release plan they maintain 100 per cent ownership of their property. The money released, plus the accrued interest is then repaid on death or when they go into long–term care.
“The wide range of low rates and repayment options available in the market at the moment mean that equity release could be seen as no longer an expensive option, and for many can be the most cost effective way of borrowing in later life.”
Important Information — Equity Release
Equity release may involve a home reversion plan or lifetime mortgage which is secured against your property. To understand the features and risks ask for a personalised illustration.
As multi-award-winning equity release specialists we provide informative impartial advice covering your options as well as explaining how equity release will affect potential inheritance and how your entitlement to means-tested benefits could be affected now or in the future. We provide initial advice for free and without obligation. Only if you choose to proceed and your case completes would a typical fee of 2.25% of the amount released be payable (minimum £1,695).
Age Partnership Ltd is authorised and regulated by the Financial Conduct Authority. FCA Register Number 425432. Age Partnership Ltd, 2200 Century Way, Thorpe Park, Leeds LS15 8ZB.