If you're age 60 or over, own your home and need to access money, 'home equity release' may be an option. Equity release allows homeowners aged 55 and over to use the equity (money) tied up in their homes to assist with income or capital needs. Taking out an equity release product is a complicated decision with lots of factors to take into account, so you should take financial advice from an independent financial adviser. Your equity release calculator results not only show you how much you could borrow with a lifetime mortgage (the most popular type of equity release plan), but you can also see how much money you could get using an enhanced plan (if you have any health conditions) and an interest-only plan (where you make monthly interest repayments). If you have ever considered the potential benefits of equity release, we strongly recommend using our exclusive equity release calculator for a no-obligation estimate. The maximum amount primarily depends on your age and the value of your home. We may disclose your personal information to RAMS and its franchisees, other members of the Westpac Group, anyone we engage to do something on our behalf, and other organisations that assist us with our business. The Mirror Equity Release Advice Service, provided by HUB Financial Solutions, is here to help you decide if equity release is right for you. Find out more about the equity release possibilities available. How we use your personal information IN BRIEF: Sensitive information we collect from you will only be used and disclosed for the purpose for which it was provided, unless you agree otherwise. Equity release is, in a nutshell, a way to unlock the value of your property and turn it into a cash lump sum. No personal details required; Get started. Access experienced, independent, and impartial advisors who can help you to find the best plan for your needs. It’s very important to find the right lifetime mortgage for you and your personal situation. We've outlined some of the advantages and disadvantages below of both types of equity release, but you should seek further advice. How does the equity release calculator work? The most common type of equity release is a lifetime mortgage (see section 4). Equity release has put an end to the money worries of pensioners Tony and Pam Hughes (above). You don’t need to have fully paid off your mortgage to do this. Reverse Mortgage Calculator. Releasing equity is another name for releasing cash from your property; commonly referred to as an “equity release loan” or a “lifetime mortgage”. And don’t worry, we only offer plans that have a no-negative equity guarantee, ensuring you never owe more than the value of your home. How much money could I release? No completion, no fee The service comes with a no obligation guarantee – meaning you can find out all you need to know about equity release and if it might be right for you, without any pressure to take out an equity release product. It is only through the collection of your personal information that we can understand you (and your needs) and provide you with advice and services that are appropriate for you. So take your current age and property value (subtract any mortgage amount) and you can see an estimation of how much money can be released. Yet while equity release rates don't sound much higher than ordinary mortgages, they often cost much more. Equity Release Without the Rolled-Up Interest. Initial advice is free, and there is no obligation. Personal; Mortgages; Mortgage calculators; Equity calculator; Get an idea of the equity in your home and how much you may need to borrow on your next mortgage. Apply online Apply online Request a call back Request a call back Email my results . Whether you’re looking to make home improvements, top up your retirement income or facing a mortgage shortfall, you may be able to benefit from a tax-free cash lump sum or access to a flexible borrowing facility. Equity release schemes are a means for older homeowners – typically over 55 or 60 – to release the cash tied up in the value of their home. With a lifetime mortgage, the most common type of equity release plan, there are typically no monthly repayments to make. The calculator will provide some information in response to the answers that are selected. The calculator will provide an approximate figure, the amount that you can raise may be greater or less than the figure shown and will depend on a range of factors personal to you. In both cases, the person taking out equity release (the ‘borrower’) retains the right to live in their home. Posted on March 24, 2020 March 24, 2020 by prp. This information does not contain all the details you need to choose an equity release product. This is designed to help with personal expenses such as buying a car, Our free equity release calculator will give you an idea of how much tax-free cash could be unlocked from your home. All Equity Release Supermarket advisers are fully qualified and regulated by the Financial Conduct Authority and would be more than happy to meet you with no obligation to proceed. Equity Release Calculator Our equity release calculator will give you an idea of how much equity you may be able to release from your home. It takes less than a minute to fill in a few details and you can see an estimate of the amount that you could release. Thinking about borrowing a reverse mortgage? Understanding the features and risks of equity release is complicated. You have to take advice to release equity from your home. Seniors Equity Release. A reverse mortgage, which is a loan that allows homeowners to borrow money against their home’s equity, can give senior homeowners the income they need to maintain their lifestyle, pay off debt, cover home improvement expenses or meet other financial goals.. the age of the youngest borrower, the current value of their security property and the assumed annual change of that value). estimated value * This field shouldn't be left empty Max. At Equity Release Supermarket, we offer you a … Equity Release Calculator . A no-negative equity guarantee means that you’ll never end up owing more than the value of your property. There are two main types. Find contact information below. On this page. Yes, I do. Get advice from a fully qualified and experienced equity release adviser. Borrowing power calculator. Find out more information on equity release and the types of lifetime mortgages we offer. You can do this via a number of policies which let you access – or 'release' – the equity (cash) tied up in your home, if you're 55+. If you'd like to choose your own adviser, a fee will be charged. Equity release comes in two forms, lifetime mortgages and home reversion plans. Equity release interest rates are fixed for the life of the loan, giving some security to borrowers. No, I'll estimate the value. Your equity release plan is only repaid through the sale of your property when you die or move into long-term care. Equity Release Calculator; Mortgages; Life Insurance; News & Views; Become an Introducer; Contact Us; 0203 435 9561; Search for: Search. One of our advisers will be able to confirm exactly how much you can raise. Step 2. Equity calculator Do you know how much your home's worth? Home value * This field shouldn't be left empty Min. This long-term trend, coupled with low interest rates, … Using the tools and information provided on this website should give you an understanding of Equity Release and how it could improve your lifestyle, however, if you would like further information one of our advisors would be happy to discuss this with you. Equity Release. Equity Unlock Loan for Seniors, the Commonwealth Bank’s Reverse Mortgage, is a flexible financing solution for homeowners aged 65 and over. Home Equity Calculator. Seniors Equity Release allows you to sell a percentage of your property to an investor via the DomaCom Fund in return for a lump sum or a staggered payment plan that can be used for any purpose, whilst retaining title to your property and lifetime occupancy. Compare Equity Release is part of the Equity Release Supermarket family, which means you can rest assured that you’re in safe hands if and when you would like to speak to an adviser. The Equity Release Experts are part of Key Group and provide the same expert advice you have previously experienced with Key. Your adviser is fully independent and will search the whole market, ensuring they consider all elements of your existing policy to find the best deal for you. A n equity release calculator is a great tool to use if you are over 55 and considering releasing equity from your home without having to sell or move out. Step 2: Enter the consumer's details In this section of the calculator, titled 'About you', you must enter the personal details relevant to the consumer (i.e. An equity release scheme allows you to tap into the value tied up in your home without the need to move. Estimate your usable equity and learn how it could help you buy your next home. There is risk involved and a long-term financial impact, so weigh up the pros and cons first. Equity Release Council. This feature will allow you to email a summary of your results to yourself or share it with someone else. Take a look at their consumer brochure for more details. ... they'll be able to give you a personal illustration and highlight the benefits, as well as the costs and risks. If you decide to go ahead the fee will be 2.25% of the amount of money you release from your home (minimum £1,695) If you're looking to find some extra money in retirement, Equity Release isn't the only option. If you’re aged 55+, try our simple equity release calculator and get an instant idea of how much money you could release. Frequently asked questions. The personal information collected from you on this form will be used to respond to your query, and to provide you with information about the products and services we offer. No need to enter personal information - Just use our simple tables: How much equity can be released from a property is a standard calculation and we've created a series of tables below to give you an indication. Latest news December 2020: Equity release interest rates are at their lowest ever & will be fixed for the rest of your life - LATEST OFFER 2.22% AER through Age Partnership when you use our calculator Best quote guaranteed or receive £500. No repayments are made till you die, so the interest compounds rapidly. Think it over. Reverse mortgage and home equity release. Page reading time: 6 minutes. Answers may be used to help us produce more relevant content and improve the overall site experience. The couple from Tunbridge Wells, Kent, struggled to afford their £250-a … All advisers recommending equity release options must have a specialist qualification. 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