Equity Release Calculator
How Much Equity Can I Release?
Equity Release Calculator: How Much Equity Can You Release?
How much equity can I release?
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How much equity can you release from your home?
If you’re considering how much equity you could get from your home, it depends on various factors such as property type, health and income (which is used for the new interest only lifetime mortgages).
The maximum loan to value is based on the age of the youngest homeowner.
From age 55 you could release around 22.5%, and this increases every year you get older, by 1% up to a maximum of 55% at age 90.
The new interest only lifetime mortgages allow you to release a higher percentage based on age. You could, subject to your income, raise around 55% at at 55 on this type of plan.
Our lifetime mortgage calculator is free and provides instant results.
You may be wondering if lifetime mortgages are a good idea and if they are suitable for your needs.
To compare the top 10 equity release companies, we have reviewed and listed the best providers to help you compare your options, including lender features, such as downsizing protection, voluntary repayments and more.
What are the typical percentages available with equity release?
Equity Release Mortgage Calculator
Our equity release mortgage calculator will estimate how much money you could release from your home.
Your age, estimated property value and whether you have a mortgage determine the options available with equity release mortgage lenders.
If you are considering raising the hidden wealth from your home and how much you can borrow on a lifetime mortgage, it’s an option to consider. A cash injection to enhance your best years may be attractive, but it’s important to get the right solution for you.
Later Life Finance are a specialist lifetime mortgage broker. If you decide to proceed with an application, our experts will help you without any pressure, obligation or upfront fees.
We discuss your all your equity release lifetime mortgage options, advantages and disadvantages and the alternatives to consider, and have access to the whole market for your added peace of mind we will find you the best deal available.
We look at all available lenders, including Aviva, Legal & General, Liverpool Victoria. Use our free equity release mortgage calculator to get started.
Get a personalised quote from our experts
Later Life Finance are a specialist lifetime mortgage broker and provide calculations and quotations from the whole marketplace.
Lifetime mortgages can be taken out for many reasons. From remortgages to home improvements to your home, to give a helping hand to your loved ones with an early inheritance, a dream holiday, or to boost your retirement finances.
The lifetime mortgage and interest are repaid from the sale of your home when you (and your partner, for a joint lifetime mortgage) pass away or go into long-term care.
Lifetime mortgages also allow voluntary repayments to reduce or avoid the effect of compound interest.
In this article we will explore the best equity release calculator to use and how to find the best equity release company with our expert broker service.
Equity release calculations for interest payments
For an accurate quotation based on your specific requirements, Later Life Finance provide detailed calculations to help you understand your options
Later Life Finance are experts in equity release lifetime mortgages and retirement interest only plans.
Our service includes detailed illustrations, projections and voluntary repayment figures.
- Free calculation and quotations
- Highly experienced advisers and access to bespoke lending terms
- Guaranteed lowest interest rates
- No negative equity guraantees
- Monthly repayment option guarantees
Compare different equity release plans: Lump sum and drawdown schemes
We help you compare different equity release plans and calculate the interest costs for you, and explain the advantages and disadvantages of each equity release provider and plan.
For example, we will calculate the difference between a lump sum and drawdown lifetime mortgage to help you understand the most cost effective option.
Understand the benefits of making voluntary repayments
We help you compare different later life mortgages, payments and lender criteria.
Our mission is to ensure you receive the best solution for your requirements.
Modern plans allow regular repayments to keep you in full control of the interest and your equity.
Making voluntary repayments to the mortgage will help control the compound interest charged against the plan.
How age and property value determine the maximum equity you can release
The age of the youngest homeowner and the value of your home both determine the amount of equity you can release.
The value of your home determines the amount of equity available. Lifetime mortgage lenders use a percentage of the property value based on your age.
Your health can also enhance the lending options available to you
Health and lifestyle can affect the amount of money available with enhanced lifetime mortgages.
For example, a smoker with angina could raise more equity than a non smoker with no health conditions.
Your calculator results: What it means
The equity release calculator provided on the page is to give an indication of the percentage of borrowing available on a lifetime mortgage.
For optimal results, our qualified equity release advisers will provide you with detailed calculations and projections based on your personal circumstances.
What are the next steps?
The next step is speaking with our qualified advisers to understand which equity release interest rate, plan and lender suit your specific requirements, such as current and longer-term plans.
We’ll explore various types of calculators, the factors that affect calculations, and the importance of seeking independent advice when navigating the world of equity release.
So let’s dive in and discover how to get an accurate estimate with our free equity release calculator.
Get your free calculation...
Equity Release for second or holiday homes
If you are considering releasing equity to buy a second or holiday home, an equity release calculator can help you determine how much money you could potentially access. With our equity release calculator, you can input details such as the current value of your property and your age to get an estimate of the amount you could release.
By using an equity release calculator for your second or holiday home, you can have a better understanding of your options without having to commit to anything. It allows you to explore the potential release of funds without the need for a face-to-face appointment with an advisor.
Using An Equity Release Repayment Calculator: Reducing Compound Interest
Equity release repayment calculators allow you to calculate how much compound interest you will save by making regular repayments to your lifetime mortgage.
By providing the option of making voluntary repayments, this can help reduce the effect of compound interest and preserve more equity in your home.
Later Life Finance have access to market leading equity release repayment calculators and research tools to help you calculate how much money you can save by making payments to your lifetime mortgage.
Equity Release Mortgage calculator: Finding The Best Remortgage Deal
Equity release mortgage calculators provide homeowners with the facility to calculate how much equity you can release via lifetime mortgages.
These later life mortgages are more flexible and provide the over 55’s with the facilities to raise tax free cash from the home without any mandatory monthly repayments, but still providing the option of voluntary repayments which can help reduce the effect of compound interest.
Later Life Finance have access to market leading equity release mortgage calculators and research tools which provide figures based on age, health and property value.
Is there a free equity release calculator from the BBC?
The BBC don’t offer an equity release mortgage calculator as you need to access figures from a specialist broker. This ensures homeowners in the United Kingdom are obtaining accurate information on equity release and lifetime mortgages.
As an alternative to an equity release calculator from the BBC, we provide detailed calculations and projections to help you understand how releasing equity will affect the remaining equity in your home.
Aviva Equity Release Calculator
Aviva are a large equity release lender and offer popular solutions for homeowners in the United Kingdom, however their equity release calculator will only provide figures from one lender, whereas dealing with a broker provides access and comparison to the whole market, including Aviva’s equity release plans.
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Summary
In conclusion, equity release calculators can be valuable tools in helping you estimate the amount of money you can release from your property.
Remember, the key to getting the most out of Later Life Finance’s calculator tools is understanding your options and making the best choice for your individual circumstances with an equity release calculator tailored to your specific requirements.