How much could you borrow? Free Equity Release Calculator.
How much can you borrow? Free Equity Release Calculator.
Introduction.
How much could you borrow with an Equity Release plan? Our free Equity Release Calculator is a quick guide to how much equity you could release from your home and receive as a cash lump sum.
Remember, no personal data is required and no salesperson will call.
What is Equity Release?
Equity Release can be a useful tool for homeowners that want to unlock a percentage of their property value as a cash lump sum. The youngest homeowner that would be eligible for an Equity Release scheme would be 55 as Equity Release is only available to homeowners aged 55 and above. The most popular equity release plan is a lifetime mortgage; a secured loan that is subject to an interest rate and is typically only repaid when the house is no longer needed and sold.
Typically, there are no monthly repayments to make however, a lifetime mortgage usually requires that your existing mortgage is paid off as it's based on home equity and loan to value (LTV). If you still have an existing mortgage, a portion of the cash lump sum raised via equity release will be used to pay off the outstanding mortgage, so it's definitely worth exploring the figures using an Equity Release Calculator before taking financial advice and finding an equity release provider.
The lump sum money released with an equity release product, such as a lifetime mortgage or home reversion loan, can be life changing for homeowners as it can be used to provide a regular income in retirement.
Why use our free Equity Release Calculator?
People often ask the question "how much equity release can I get?" and end up looking at an Equity Release Mortgage calculator that asks for all sorts of personal information and you will often need to input your contact details before your results are shown.
You need to be really careful as some equity release mortgage calculator websites are a front for scammers that are looking to harvest your details for identity theft and may also be used for high-pressure sales calls. You can read more about this in our article "What's the catch with equity release and is it a scam?".
What makes our free Equity Release Calculator different?
Our free equity release calculator is different. You can use it as much as you want to, you don't need to register, no personal information is required and you will receive your lump sum estimate instantly.
If you want to take things further, you can request a free consultation with a qualified financial adviser to talk through your lifetime mortgage options, find an equity release plan and discuss how the interest rate affects a lifetime mortgage equity release loan.
How does the free Equity Release Calculator work?
Our equity release calculator gives you a rough indication of what you may be able to borrow using an Equity Release scheme known as a Lifetime Mortgage. The actual amount you can borrow will depend on multiple factors, including:
Your age: (If you are joint homeowners, it will be based on the youngest age).
Your property type and home's value: If it's a flat or maisonette, the value used is usually 85% of the valuation figure.
The type of lifetime mortgage product you use and which lender you choose: It's important you receive advice from an independent financial adviser, to ensure you have access to all available options.
The specification of the agreement: Whether you include any additional features, such as a lifetime mortgage inheritance guarantee.
You: Your health and lifestyle.
Be aware that Equity Release will reduce the value of your estate and may affect your entitlement to state benefits. Obtaining impartial financial advice from an equity release expert is critical in ensuring you are able to achieve your objectives in the most appropriate way and that you understand all the benefits and risks involved with your chosen course of action.
How to use our free Equity Release Calculator:
It is really simple to get started and find out how much you could borrow. Just follow these three simple steps:
Enter your age into the equity release calculator.
Enter your property value into the equity release calculator, you can find out what your home is worth on Zoopla.
View your results: The Equity Release Calculator will then show how much you could borrow with an equity release lifetime mortgage.
If you are considering equity release and need expert Equity Release guidance, you can speak to one of our friendly Equity Release Experts in Tunbridge Wells , wherever you are in the country.
Free Equity Release Calculator.
How old will the borrower be when applying for equity release? *If you haven't moved home in a while, you can find an approximate value of your home on Zoopla. Just click the button below.£0
Ready to speak to an equity release adviser?
If you think that equity release could be right for you or if you just want to explore your options, please contact our experts today for a free, no-obligation consultation.
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Do you need independent, expert Equity Release advice?
We are not an Equity Release Supermarket, we offer independent financial advice and believe in responsible equity release advice. Our aim is to find the right lender and the most favourable interest rate to suit your circumstances.
If you are considering equity release and the results of our equity release calculator look interesting, you can speak to one of our friendly Equity Release Advisers in Tunbridge Wells for independent, expert equity release guidance, regardless of where you are in the country. Locally, we serve clients across Kent including Ashford, Maidstone, Sevenoaks and Tonbridge. In East Sussex, we have clients in Bexhill, Crowborough, Eastbourne, Hastings, Heathfield and Uckfield.