Equity Release Calculator
When considering equity release, the most common question is: “How much can I borrow?”. Our Equity Release Calculator will enable you to see an indication of the amount that can be released from your property based on both a Roll Up equity release scheme and an Interest Only scheme.
Your details will never be given to any 3rd party company other than to set up your equity release if you proceed.
In addition to the standard equity release rates, there are now more companies who are offering ‘enhanced‘ or ‘impaired life‘ equity release schemes.
Therefore, if you have, or had a history of poor health, then some specialist equity release lenders will offer a higher lump sum than normal.
Please contact the team on 0800 810 1212 to find out whether you qualify for enhanced rates.
Lifetime Mortgages – the amount that can be released depends on :-
- The age of the youngest homeowner (minimum age 55).
- The value of the property.
- Any existing mortgage that needs to be repaid.
(NB certain medical conditions and lifestyle choices could mean that we my be able to obtain higher release values than have been shown by our equity release calculator above. This is calculated by the providers on the basis that life expectancy for certain health or medical conditions will be shorter than otherwise expected.)
It is vitally important that, if you are in poor health or believe that you may qualify for an increased amount of equity release, that you call us on 0800 810 1212 to discuss how much you may be able to release.
Eligibility for Enhanced or impaired life equity release will be based on a ‘health and lifestyle’ questionnaire. Lifetime mortgage lenders who offer enhanced schemes use this questionnaire to ask a series of questions about your medical history. The amount of equity that they will be willing release to you will be based on the answers to these questions and on the type & severity of nay conditions you suffer from.
If you are unsure about whether you qualify for an enhanced equity release plan or have any questions at all, please call us on 0800 810 1212