Lifetime Mortgages & Equity Release

We help you understand how these products work, what they mean for your long-term plans, and the options available based on your age, property and financial goals.

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First Time Buyer Mortgages

First-Time Buyer Mortgages

Helping You Take Your First Step onto the Property Ladder

Buying your first home is an exciting milestone — but understanding deposits, affordability, credit checks, and the full mortgage process can feel overwhelming. At NexGen Finance, we make the journey clear, structured, and stress-free, supporting first-time buyers right from the initial enquiry through to getting the keys.

We help you understand how much you can borrow, compare suitable mortgage options, prepare your documents, and move through the process with confidence.

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What Is Equity Release?

Equity release allows eligible homeowners to take a lump sum, drawdown, or regular income secured against the value of their property.
You continue to own your home
No monthly repayments required unless you choose them
Funds can be taken as a lump sum or accessed when needed
Designed for homeowners aged 55 and above

Types of Lifetime & Equity Release Mortgages

Lifetime Mortgage – borrow a percentage of your property value with interest rolled up or optionally repaid
Drawdown Lifetime Mortgage – release funds gradually as you need them
Interest-Only Lifetime Mortgage – make monthly interest payments to maintain the loan balance
Enhanced Lifetime Mortgage – for applicants qualifying through age, health or lifestyle factors

How We Help

Common Considerations

Local Notes

Woking’s commuter economy supports diverse uses; lenders scrutinise lease terms on investment stock and cost efficiency on owner-occupied acquisitions. Clear evidence of demand and achievable rents strengthens valuation cases.

FAQs About Lifetime & Equity Mortgages

1. Can I refinance to release capital?

Often yes, subject to DSCR, valuation and use of funds.

2. Are fixed and variable rates available?

Yes — terms vary by lender, sector and risk profile.

3. Will personal guarantees be required?

Common for SME borrowing; extent depends on leverage and covenant strength.

4.Can a start-up obtain finance?

Possible with strong plans, assets and/or additional security — pricing may be higher.

Our Customers Love Us

Juan-Ricardo

As someone self-employed with slightly ‘sticky’ credit, most banks turned me away. This team was a godsend; they persevered and got my mortgage sorted, even saving me some of my deposit money.

Pulizia London

Thank you for your assistance, advice, and perseverance in getting my mortgage sorted. You guys made it happen when others wouldn’t. See you in two years for the remortgage!

Sean King

Securing a buy-to-let mortgage was a breeze with their help. They walked me through the process, found me a great rate, and ensured everything went smoothly. Outstanding expertise.

Jenson West

The Nexgen team took the time to explain everything, found the right lender for my budget, and guided me through the paperwork. A very stress-free experience for a first-time buyer.

Cath Jones

Excellent experience financing a buy-to-let auction property. The NexGen Finance team was excellent to deal with and guided us through the process with no stress whatsoever.

Joanna Morley

Over the moon! Thank you for the excellent service, advice, and support. You are very approachable and it was a pleasure having NexGen Finance as my broker.

Sammy Alim

Experts in what they do. Explained all options to purchase an uninhabitable property and get development funding. Jahed explained the bridging loan and exit strategy perfectly.

Muhammad Ashiq

I am extremely pleased with the mortgage service provided. The level of professionalism was top class and the entire process was handled perfectly. Highly recommend.

Reasons People Consider Equity Release

Boosting Retirement Income

1

Some homeowners choose equity release to supplement pensions or maintain lifestyle standards in retirement.

Home Improvements & Renovations

2

Access funds for upgrades, extensions or adaptations to support long-term living comfort.

Helping Family

3

Many clients use equity release to support children or grandchildren with deposits or education costs.

Paying Off Existing Borrowing

4

Equity release can be used to repay outstanding mortgages or loans, simplifying finances.

Maintaining Ownership

5

You stay in your home and retain ownership while accessing a portion of the equity you’ve built up.

The Lifetime & Equity Mortgages Process

1. Initial Discussion

We talk through your goals, preferred outcome and current financial picture.

2. Property Assessment

Your home’s value helps determine how much you can release and which products suit you.

3. Exploring Options

We outline suitable lifetime and equity release solutions based on your age, plans and preferences.

4. Application & Valuation

Once you choose a route, we assist with the application, valuation and required checks.

5. Completion

Funds are released as a lump sum, drawdown or combination, depending on your chosen product.

We Search 1000s of Lifetime Mortgages & Equity Mortgages in Uk

10 Step Guide for Lifetime Mortgages & Equity in Uk

1. Master Your Budget

Before looking at houses, look at your bank account. You’ll typically need a 5% to 10% deposit. Beyond the deposit, remember to budget for “hidden” costs like solicitor fees, surveys, and moving costs.

2. Check Your Credit Health

Lenders want to see that you’re a reliable borrower. Use apps like Experian or Equifax to check your score. Pro tip: Ensure you are on the electoral roll and avoid taking out new credit cards or loans 6 months before your application.

3. Get an Agreement in Principle (AIP)

This is your “golden ticket.” An AIP from NexGen Finance tells estate agents and sellers that a lender has pre-approved you for a certain amount. It makes your offers much more serious.

4. Explore Government Schemes

Don’t miss out on help! We can guide you through the Lifetime ISA (LISA) bonus, Shared Ownership, or the First Homes scheme to see if you can get on the ladder sooner with a smaller deposit.

5. The Property Search

Now for the fun part! Once you know your budget, start viewing properties. Look beyond the décor—check for signs of damp, the age of the boiler, and the “vibe” of the local neighbourhood at different times of the day.

6. Make an Offer

Found “the one”? It’s time to negotiate. We suggest starting slightly below the asking price. Mention that you are a Lifetime & Equity with no chain and an AIP—this makes you a very attractive buyer.

7. Instruct a Solicitor

You’ll need a legal expert (a conveyancer) to handle the paperwork, local searches, and the transfer of funds. We can recommend trusted professionals to ensure your legal journey is as smooth as your mortgage one.

8. Formally Apply for Your Mortgage

Once your offer is accepted, NexGen Finance will submit your full application. The lender will then perform a valuation to ensure the property is worth the price you’re paying.

9. Survey and Searches

While the lender checks the value, you should check the condition. A HomeBuyer Report or Building Survey will flag any structural issues. Your solicitor will simultaneously run searches to check for things like local planning permissions.

10. Exchange and Complete

Once the legal work is done and your mortgage offer is formalised, you’ll Exchange Contracts. At this point, the deal is legally binding. Shortly after comes Completion Day—the keys are yours!

Our Mortgage Guides

First Time Buyer Guides

Remortgage Guides

Bad Credit & Specialist Finance

Buy-To-Let Guides

Business Finance Guides

Moving Home Guides

Age 50+ Guides

Lifetime & Equity Release Mortgages

Lifetime Mortgages & Equity Release

Lifetime mortgages and equity release products allow homeowners aged 55+ to access money tied up in their property without the need to move home. Whether you’re looking to supplement retirement income, fund home improvements, support family members or simply unlock some of your property wealth, NexGen Finance provides clear guidance every step of the way. We help you understand how these products work, what they mean for your long-term plans, and the options available based on your age, property and financial goals.

What Is Equity Release?

Equity release allows eligible homeowners to take a lump sum, drawdown, or regular income secured against the value of their property.

✔ You continue to own your home
✔ No monthly repayments required unless you choose them
✔ Funds can be taken as a lump sum or accessed when needed
✔ Designed for homeowners aged 55 and above

Types of Lifetime & Equity Release Mortgages

Lifetime Mortgage – borrow a percentage of your property value with interest rolled up or optionally repaid
Drawdown Lifetime Mortgage – release funds gradually as you need them
Interest-Only Lifetime Mortgage – make monthly interest payments to maintain the loan balance
Enhanced Lifetime Mortgage – for applicants qualifying through age, health or lifestyle factors

Reasons People Consider Equity Release

Boosting Retirement Income

Some homeowners choose equity release to supplement pensions or maintain lifestyle standards in retirement.

Home Improvements & Renovations

Access funds for upgrades, extensions or adaptations to support long-term living comfort.

Helping Family

Many clients use equity release to support children or grandchildren with deposits or education costs.

Paying Off Existing Borrowing

Equity release can be used to repay outstanding mortgages or loans, simplifying finances.

Maintaining Ownership

You stay in your home and retain ownership while accessing a portion of the equity you’ve built up.

How We Help

📊 Assessing eligibility based on age, property value and goals
🧾 Explaining the different product types and how they work
💷 Outlining borrowing amounts and release options
🏡 Support with valuations, documents and application steps

The Process

1. Initial Discussion

We talk through your goals, preferred outcome and current financial picture.

2. Property Assessment

Your home’s value helps determine how much you can release and which products suit you.

3. Exploring Options

We outline suitable lifetime and equity release solutions based on your age, plans and preferences.

4. Application & Valuation

Once you choose a route, we assist with the application, valuation and required checks.

5. Completion

Funds are released as a lump sum, drawdown or combination, depending on your chosen product.

Common Considerations

✔ Loan balance increases over time unless interest is repaid
✔ Releasing equity may reduce inheritance amounts
✔ Your property remains your home throughout
✔ Flexible options such as voluntary payments or drawdown can help manage long-term plans

Get Started

If you’re exploring ways to unlock value from your property or improve your financial comfort later in life, NexGen Finance can help you understand your options clearly and confidently. Contact us today to begin your equity release enquiry.

🧮 Mortgage Calculator for Buyers and Homeowners

Using a mortgage calculator is a smart way to understand your potential monthly payments before making any big decisions. Whether you’re buying your first home or looking to remortgage, it’s a quick and simple way to plan ahead.

Our calculator is designed to give you a clear idea of what your repayments could look like based on your loan amount, term, and interest rate — helping you make informed choices early on.

Ready to get started?
Visit our Mortgage Calculator page now and take the first step in your home buying or remortgaging journey.

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