Equity Release Calculator

Equity release allows homeowners to access the value tied up in their property without needing to sell it. Typically available to those over 55, equity release provides either a lump sum or regular payments. The loan, plus interest, is repaid when the homeowner sells the property, moves into long-term care, or passes away. There are two main types of equity release: lifetime mortgages and home reversion plans.

Equity release is a financial product that allows homeowners to unlock some of the value of their property while still living in it. It is commonly used by older homeowners to access funds for retirement, home improvements, or other expenses. The released equity can be received as a lump sum, regular income, or a combination of both.

Whether equity release is a good idea depends on your circumstances. It can provide a source of income, especially during retirement, without requiring you to sell your home. However, equity release reduces the value of your estate and may impact any inheritance you plan to leave. It is important to consider the long-term costs, interest rates, and possible alternatives before deciding. Seeking financial advice is recommended.

The process of remortgaging and releasing equity typically takes 4 to 8 weeks. This depends on factors like lender processing times, the valuation of your property, and any legal requirements. Delays may also occur if additional paperwork or information is needed.

The process of remortgaging and releasing equity typically takes 4 to 8 weeks. This depends on factors like lender processing times, the valuation of your property, and any legal requirements. Delays may also occur if additional paperwork or information is needed.

To release equity from your home, you can either remortgage with a higher loan amount or use an equity release product, such as a lifetime mortgage. The first step is to speak to a financial advisor or mortgage broker who can guide you through your options and recommend the best approach based on your financial situation.

Most equity release products are only available to homeowners aged 55 or over. However, other options, such as remortgaging or taking out a secured loan, may be available if you are under 55 and wish to release equity from your home. It is advisable to seek professional advice to understand your options.

The amount of equity you can release from your home depends on factors such as your age, the value of your property, and the type of equity release product you choose. Generally, older homeowners can release a larger percentage of their property's value. An advisor or an equity release calculator can help estimate how much you may be eligible to release.

Yes, some equity release plans allow voluntary repayments, which help reduce the overall debt and interest accrued. Lifetime mortgages often permit repayments of up to a certain amount each year without penalty. Not all plans offer this, so it's important to check the terms of your specific equity release product.