Equity Release Calculator London, Middlesex, UK Surrounding Areas
Use our calculator to see how much money you could release from your home with our lifetime mortgage.
It’s important to understand the features, costs and risks of a lifetime mortgage. It’ll reduce the amount of inheritance you can leave, and may affect your tax position and access to welfare benefits.
Call us free on 0800 110 5898 to check if you’re eligible and schedule an appointment with an adviser.
Lines are open Monday to Friday, 9am – 5.30pm (closed on bank holidays).
The amount shown is only an indication and isn’t guaranteed. To calculate this amount, we compare your age and property value to our ‘loan to value’ table. This allows us to work out what percentage of your home’s value is available to you.
Equity Release Calculator UK – Online and Free
If you are aged 55 years or above and own a home in the UK or nationwide, you are eligible to take out equity release against your investment property. Try our instant best equity release calculator over 55 to get an approximate quote of how much can you can withdraw. Whether you want to secure your retirement, make home improvements or pay off your debts, Equity Release 4 You allows you to have access to a lump sum of money or regular income facility.
Unlike other equity release providers in the UK or nationwide, our certified advisers are not tempted by sales, targets, commission or bonuses. Therefore, you can speak to them worry-free, in the knowledge that they will provide absolutely impartial advice and help you find the right equity release. It is an equity release calculator no personal details or without giving personal details and money saving expert equity release advice to you.
How Much Money Could I Release?
Our free and fast home equity release calculator in the UK or nationwide will help you instantly calculate how much money you can withdraw in both lifetime mortgage and home reversion plans. Our key equity release calculator requires no personal details or without giving personal details except your age, type of home, its net worth and your email address, where the quote will be sent to you.
On What Factors Equity Release is Based On?
Whether you want a lifetime mortgage or home reversion equity release, the amount you can borrow is directly dependent on:
- The age of the applicant
- The value of the property owned by the applicant
So, in our house, best equity release calculator free presented on this page, select your age, choose the type of the property, be it a flat, house or maisonette and its value, and our best equity release calculator will send an immediate quote on your email address.
How the Amount is Calculated?
Inputting details into our equity release remortgage calculator will show you an approximate amount that you can borrow. This amount of majorly depends on your age and property value. If you are considering to apply for equity release, you must be at least under 55 years old. If you are applying as a couple, both you and your spouse should be at least under 55 years old. When it comes to the property, the higher the value, the more money you can draw. However, the minimum property value to be eligible for equity release is £75,000.
Our equity release UK calculator will then take your age and the property value in the account and provide you with the best amount that you could release. Once you receive the approximate amount, you will be able to compare different plans and interest rates that will be made available to you. Our best equity release calculator is the money saving expert that will give you an idea about a range of equity release plans.
Home Reversion Plan Calculator Online – Home reversion equity release plan allows you to sell your entire home or the part of it to release money attached to the value of the property. The home reversion plan still allows you to stay in your home for the lifetime, rent-free. Use our equity release loan calculator to know how much you can get by selling your residence.
Since you are allowed to stay in your home, even after it is sold, this type of equity release doesn’t offer 100% of the current market value. However, home reversion could still be a good option if you want to guarantee an inheritance for your family along with living an independent life. Furthermore, you are not required to make any monthly repayments.
Lump-Sum Lifetime Mortgage Calculator Online – Another major type of equity release plan is the lump sum lifetime mortgage. This is a standard equity release scheme where you can borrow a lump sum of cash against your property. With your equity release interest calculator, you will get an idea about how much money can be withdrawn for the particular type of property. Based on your age and value of the property the interest rate will be decided.
Due to its simplicity, the interest rates are quite lower than other schemes and you can borrow more lump sum of cash. There are usually no monthly interest repayments to make as you are required to pay the borrowed amount and the accruing interest after you pass away or move into long-term care. The lump sum lifetime mortgage is ideal when you need a huge amount of money to repay other mortgages or help your children buy their new home.
Equity Release Drawdown Calculator Online – Drawdown lifetime mortgage is one of the popular types of lifetime mortgage equity release schemes, where you are allowed to withdraw the cash as and you need. When you use our equity release online calculator, we will inform you about the total amount of money that you can withdraw. However, you are not required to withdraw all the money at once. After initial borrowing of around £10,000, the rest of your money will be stored in the cash reserve facility. Then after you are free to withdraw as much as you want and as many times as you want.
You don’t need to pay any extra charge for releasing your money, but the interest will be charged every time you withdraw your amount. Since you need to pay interest only on the amount you withdraw, the total interest payable is much lesser compared to withdrawing a large sum of money at once. Moreover, if you are willing to claim any means-tested benefits, it will not affect your claim as the finances can be controlled when you borrow in smaller amounts.
Interest-only Lifetime Mortgage Calculator Online – Interest only lifetime mortgage is another type of lifetime mortgage where you are required to pay the interest amount monthly for the money you release. Using our equity release mortgage calculator, you will get an idea about how much money you can release against your residence, and how much interest you will need to pay every month. Interest-only lifetime mortgages are often used to pay the large mortgages or debts which cannot be extended.
This type of equity release plan is also ideal when you want to maximise your inheritance. Since you are regularly paying interest every month, the amount you borrow will remain the same throughout the mortgage period. You will only have to pay the original amount after the plan ends, which reduces a significant burden on you and your family.
The amount shown by the calculator is only to give you an estimation of how much you can borrow. Contact one of our experienced advisers to learn more about equity release plans. Call us today for equity release calculator money saving expert 0800 110 5898.
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