Free Equity Release Calculator
What is the maximum equity release lump sum?…is the most popular and important question Equity Release Supermarket get asked. Afterall, it’s of primary importance to ascertain whether sufficient equity can be released from your property.To achieve this an online equity release calculator will need to be used which could be a lifetime mortgage or home reversion calculator. Once the maximum equity release lump sum has been calculated, then the next stages of research can follow. We kindly provide free use of our lifetime mortgage calculator opposite offering a selection of results.
How Much Can I Release?The maximum amount of equity that can be released will depend on numerous personal factors and the type of equity release scheme you are searching for. Remember taking a maximum release of equity is not always the best solution, and should only be used as a guideline to establish that the amount required is within equity release guidelines. The factors affecting how much equity release can be taken are as follows:-
- The age of the youngest homeowner – the minimum age that any lifetime mortgage scheme can start at is 55
- The valuation of the property – the minimum acceptable UK property valuation is £70,000
- Any outstanding mortgage or secured loan – needs deducting from equity release calculator results to give the net release available to you
- The homeowners health records – poor health can affect the size of the maximum lump sum available from impaired equity release lenders
Results Shown By Equity Release CalculatorsThe Equity Release Supermarket calculator offers a number of different calculations based on the various forms of lifetime mortgage schemes available. This 3-in-1 equity release calculator saves time in having to search for calculators for lump sum roll-up, interest only and enhanced lifetime mortgages. Each calculation result is defined as follows:-
- Standard plan results represent the maximum release from the roll-up or voluntary repayment lifetime mortgage schemes
- Enhanced plan results apply to lifetime mortgage schemes where a health and lifestyle questionnaire evidences poor health exists and to what extent this affects the maximum release
- Interest only results are calculated from plans that provide an interest only lifetime mortgage basis requiring NO proof of income, regular monthly payments and the option to switch to future roll-up.
Should the results of your equity release calculation fall short of your expectations, don’t worry, just call our team, as there may be other equity release alternatives available.
If you have any questions regarding your lifetime mortgage calculations, or to request a quote, please contact the Equity Release Supermarket team on Freephone 0800 678 5955 or use our equity release enquiry form.
These are lifetime mortgage and home reversion calculations. To understand their risks and features always ask for verification of the calculator results provided to ensure they are specific to your personal circumstances.