Free Equity Release Calculator
An equity release plan allows homeowners to access some of the cash tied up in their home without having to move.
- The cash released is tax-free
- You must be a homeowner and aged 55 or over
- Your property must be worth £70K or above.
Can I Benefit From Equity Release?
- If you are a homeowner and aged 55 or older you may be eligible to release funds from the value of your property.
- The amount available will depend on your age and property value.
- You can access a larger percentage of your home’s value the older you get and some lenders will take into account your health and lifestyle to increase the amount you can release with an enhanced plan.
If you are planning to move in the future you can still take out an equity release plan now.
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How Can I Unlock Tax-Free Cash?
There are two ways to unlock equity from your home. A lifetime mortgage is the most popular type of equity release. With a lifetime mortgage, you take out a loan secured against your home typically without monthly payments, although you can make payments of interest should you want to. With a home reversion, you sell all, or part of your home and in return receive a tax-free lump sum.
With both plans, you get to stay in your home until you die or move into permanent care.
Equity release may involve a home reversion plan or lifetime mortgage which is secured against your property. To understand the features and risks; ask for a personalised illustration.
Find out how much you could release FREE Equity Release Calculator