The burgeoning question that anyone researching into equity release schemes wants to know is ‘How Much Can I Release? Without prior knowledge of the calculation for the maximum equity release possible, it would be folly to continue gathering information on lifetime mortgages.
This calculator page is dedicated in helping to provide accurate equity release data regarding the maximum release of equity possible, based on your personal circumstances. Each equity release calculator has been calibrated using data provided from every UK lifetime mortgage company to offer you the results offering the maximum equity releases.
Once the results of the equity release calculation are known, the next step is to calculate the actual amount you need to release from your property. This amount will form the basis of how your equity release plan will be arranged, but more importantly the effect on its future balance.
Before equity release providers will accept an application, they will need to evidence the fact that advice has been taken. An independent equity release adviser with access to the whole of the market is therefore recommended. Interest Only Lifetime Mortgage can provide this access to both an equity release calculator & UK specialist advisers.
How much equity can I release?
Both the roll-up lifetime mortgage calculator & interest only lifetime mortgage calculator will advise the maximum equity release you could borrow based on the following personal criteria:-
- Property valuation – as the amount you can borrow is a percentage of your property value, an estimate of your current property value is necessary. This information can be available on websites such as Zoopla.co.uk
- The age of the youngest homeowner – the equity release lender will need age as their actuaries will calculate potentially how long the lifetime mortgage or home reversion has to run. This will help determine the percentage they can lend.
- Your health and lifestyle situation – enhanced lifetime mortgages now can offer a greater maximum lump sum if it can be evidence ill-health has persisted. The equity release calculator will take this information into account.
- Proof of Earned income – will be required for interest only lifetime mortgage plans. Under new MMR rules lenders now must be even more stringent with assessing applicants affordability levels. Interest only calculations are ultimately assessed on this basis now.
Equity release advice
Interest Only Lifetime Mortgages are here to offer impartial and accurate equity release calculations and advice based on your own personal criteria.
We appreciate that this site is dedicated to lifetime mortgage schemes & the calculators herein are attributed also. Should you require maximum calculations for home reversion plans which are an alternative equity release mortgage, please visit the home reversion calculator at homereversion.org.
Should the results from our equity release calculators meet your requirements, you may wish to book an appointment with your local Interest Only Lifetime Mortgages adviser who can provide a FREE no obligation initial appointment in the comfort of your own home. Your specialist will run through your requirements & ascertain & recommend which equity release scheme is best for you.
If the calculator results do not provide the required amount, we may have alternative ways for you to release equity. If so, please contact us on Freephone 0800 689 0925 or complete our online contact form.