Equity release calculator

With our free and secure equity release calculator, you can receive a quick estimate. Compare the whole market and find out for free how much tax-free cash you could release from your home.
We'll explain the benefits, drawbacks, and costs of equity release to help you make an informed decision.

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Why choose us?

  • We're part of Key Group, the UK's largest provider of equity release services

  • Our equity release calculator is free and easy to use

  • We recommend plans which meet the Equity Release Council standards and compare plans from the whole market, including:

ⓘ This is a lifetime commitment - check the benefits and drawbacks before you go ahead

Lifetime mortgage benefits

Your specialist equity release adviser will explain:

  • You can unlock cash from your home, tax-free, to help meet your needs in later life
  • You’ll always retain full ownership of your home and can stay in it for as long as you wish
  • You can choose to make reduced or no monthly repayments to suit your circumstances
  • You’ll never owe more than your home’s worth
  • You may be able to remortgage your plan in the future to release further funds or secure a better interest rate, although this isn’t guaranteed and may be subject to early repayment charges

Lifetime mortgage drawbacks

Your equity release adviser will also outline the following important things to think about:

  • A lifetime mortgage is a loan secured against your home and subject to compound interest, meaning the amount you owe can grow quickly
  • Equity release will reduce your financial options in the future
  • Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits
  • Equity release may leave you with limited or no property equity remaining
  • A lifetime mortgage is a long-term financial product and is not designed to be fully repaid until the death or entry into long-term care of the last remaining borrower, otherwise early repayment charges may apply

Home reversion benefits

Your specialist equity release adviser will explain:

  • Releasing equity from your home is tax-free
  • You can live in your home until you pass away or move into permanent care
  • There’s no interest to pay (this isn't a loan)
  • You’ll benefit from property value increases on your unsold percentage
  • You can protect a portion of your property for inheritance, as long as you don't sell 100% of your home

Home reversion drawbacks

Your equity release adviser will also outline the following important things to think about:

  • You'll receive less than the market value when selling your property to the home reversion provider
  • It's expensive to cancel the plan early as you'd buy your property back at the full market value
  • You won't be the legal owner of the property
  • It'll reduce your financial options in the future
  • You may be left with limited or no property equity remaining, depending on the % sold

How to calculate the amount of equity in your home

Simply put, the equity you have in your home is the difference between the current market value of your property and the total sum of debts secured against it. The debts are typically any existing mortgage or secured loans.

There are a number of factors that dictate how much you may be able to release, such as the value of your property, your age and your health & lifestyle choices. By using our free equity release calculator, we’ll be able to give you a guide to the funds you may be able to release.

How do I release some of the equity from my home?

Our calculator uses two main factors to determine how much could be available to you:

  1. Your property value: The higher the value, the higher the calculation could potentially be. The minimum property value to be eligible for equity release is £70,000.

  2. The age of the youngest applicant: If you’re applying as a couple, the amount of equity you can release will be calculated on the youngest applicant. To qualify, both of you must be aged 55 or over.

Once you’ve calculated how much you may be able to release, our expert advisers will be able to discuss your options with you.

If you want to know more about the eligibility criteria, our team of experts are always on hand. Should you wish to book an appointment, they’ll be able to arrange a time for you to speak to an equity release adviser who will chat you through the options that are available and also discuss the other later life lending options that are available. 

During the initial call, they’ll be able to check whether you’re eligible for equity release or not, and if you are, discuss the plans and answer the questions you may have.

Unless you decide to go ahead with a plan, our service is completely free of charge, as our fixed equity release advice fee of £1,799 is only payable on completion of a plan

What types of equity release are available?

All of the plans we recommend will meet the Equity Release Council standards, which means they come with a ‘no negative equity’ guarantee. This means you can’t pass on any debt through equity release to your beneficiaries.

  • Lifetime mortgages: A lifetime mortgage is a loan secured against your home which allows you to access tax-free funds, while retaining full ownership of your home.

  • Home reversion: This involves you selling part or all of your property to a provider in exchange for a tax-free lump sum. You’ll live in your home rent-free for as long as you choose, but you will no longer be the legal owner.

Your equity release adviser will talk you through the different options, as well as any additional benefits you could include such as inheritance protection and downsizing protection.

How does compound interest work?

Unless you choose to do so, there are no repayments to make on a lifetime mortgage until the plan comes to an end. As a result, you pay interest not only on the loan itself, but also on the interest already added to the loan.

The loan, plus compound interest, is typically repaid through the sale of the property when the last remaining applicant passes away or moves into long-term care

But there are ways you could reduce the total cost of borrowing of your lifetime mortgage.

More on compound interest

What are my other options?

An expert adviser can discuss your needs over the phone and explain more about equity release. They’ll always tell you if equity release isn’t right for you and there’s absolutely no obligation to go ahead.

Before deciding on equity release, it's important you're aware of some of your other later life finance options, which may include:

Free online calculator

Get a free, no obligation quote using our calculator to see how much you could release from your home
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