Over 55? Looking to fund new important plans?
We're dedicated to providing free thinking financial solutions to the over 55s. Helping you...
If you have important plans to finance
If you would like to do more in retirement
How can free2 help me?
The ability to withdraw a lump sum from your pension will depend on the type of pension you receive. You’ll also need to consider the impact of taking out money from your retirement pot on your future income, so how do you fund that lump sum you need?
free2 offers the Over 55s Unsecured Loan. You could borrow from £15,000 to £150,000 and depending on your age, repay the loan over a period of 5 to 20 years. And you do not use your property as security. We take all your income into account, work out what’s affordable over the period of the loan, then show you your options.
Find out how much you could borrow?
Do you take the tax-free cash to fund your big plans?
Are you happy to give up some of your guaranteed pension payable for the rest of your life?
Should you use your savings?
free2 can arrange for you to speak to a Pensions Advice Expert from our partners at the AIR Group - you’ll get a free initial consultation to explore all the options.
You may have more limited income and don’t want to downsize to create a lump sum to fund your plans. So, what are the options?
Releasing equity in your home is another way, which is extremely popular for people in this position. It's important to understand that your home will be mortgaged and is usually sold after your passing to repay the outstanding debt, with your estate receiving the balance.
We’ll introduce you to an equity release expert who’ll help you find the best deal that’s right for you, with a choice of products from leading lenders or, if preferred across the whole market. They are FCA registered and will explore all other options alongside equity release. The service starts with a free initial consultation. If you proceed, an advice fee is payable and this will be explained in full before you are under any obligation.
What do we do?
We help you keep your equity
The Over 55s Unsecured Loan
We find you a great deal to
release your equity
If you prefer minimal or no repayments, you can release some of the equity in your home. Your equity release specialist will help you find you the best deal from a panel of leading lenders, or the whole market.
We help you plan your retirement benefits
Are you close to retirement? If you need help deciding how to take your pension benefits, or manage your pension drawdown, your Independent Pension Adviser will help you make the right decisions.
Your home is not used as security for the loan.
Provided it's affordable, you can borrow up to £150,000 over a maximum of 20 years. Loans must be repaid by your 75th birthday.
Peace of mind
Any outstanding loan will be wiped off if you die before it is fully repaid – so no debt for your loved ones.
Rates are fixed for the entire loan repayment period and if you want to clear your balance early, you won’t be charged a fee.
Your home is used as security, which means there is usually an amount owing by your estate after you have passed away.
A choice of borrowing options
Equity release is attractive to people who want to pay minimal or no monthly repayments. Your financial adviser will find the right options for you and your family.
Expert financial advice
Your financial adviser will also search for the best deals from a panel of leading lenders , or if preferred, across the whole equity release market.
Provided your property is worth at least £70,000, you can borrow up to 25% of its value.
Independent financial advice
Your financial adviser will consider your options with access to all products in the market.
Tailored to your circumstances
One size does not fit all: your adviser will formulate a retirement plan to meet your needs and ambitions in retirement.
All our partners are trained to the highest levels and we’ll only choose advisers who specialise in pensions and later life financial planning.
Have confidence in your retirement
Your plan will consider all types of pensions and available income sources to match your needs, and it starts with a free initial consultation.
We aim to help people achieve more from life over 55. To do that, we plan to develop a wider range of bespoke financial solutions especially for them.
Our commitment is to use our fintech heritage and expertise to improve our customer service, enhance our efficiency and increase the attractiveness of our carefully designed products and services.
Reasons to borrow
Many people 55 to 70 find themselves in the "sandwich" generation, having to both help their children and look after their elderly parents. For example, you may need to:
- Modify your parents’ home
- Modify your home if your parents live with you
- Add a granny annexe or extension to your property
- Raise money for essential home nursing care and support
Raise the funds you need by talking to free2's Equity Release Advice Service or by taking out an Over 55s Unsecured Loan.
Perhaps you’d like to help your children without spending a portion of your savings or dipping into your pension funds? For example, you might want to:
- Raise a deposit for their first home
- Pay for a wedding day to remember
- Give your grandchild an amazing start in life by paying for their education
- Convert the attic for the grandchildren to occupy
Find the solution, either by talking to free2's Equity Release Advice Service or by taking out an Over 55s Unsecured Loan.
Now that you’re spending more time at home, you may wish to add to its value and improve its liveability and attractiveness. Through free2's Equity Release Advice Service or by taking out an Over 55s Unsecured Loan, you could choose to:
- Add an open-plan extension to your kitchen and family room
- Bring in the experts for a lush garden makeover
- Renovate your bathroom to create a wet room with underfloor heating
- Add loft space or a conservatory
You might want to achieve some significant lifestyle changes, or realise some plans earlier in your retirement, for example:
- Go exploring in a classic vintage car
- Make plans to travel the world
- Give free range to indulge your lifelong hobbies
You could raise the necessary funds by talking to free2's Equity Release Advice Service or by taking out an Over 55s Unsecured Loan.