Free Home Reversion Calculator
What is the maximum release from a home reversion plan?…is a question Equity Release Supermarket advisers often get asked. Afterall, the first port of call when researching home reversion plans is to ascertain whether sufficient equity can be released from your property.
How Much Can I Release?The basis of how much a home reversion plan can release is as follows: –
- The percentage of the property you sell – you can sell anywhere upto 100% of the property to obtain the desired lump sum
- The age of the youngest homeowner – the minimum age that a home scheme can start at is 65
- The valuation of the property – the minimum acceptable UK property valuation is £80,000
- Any outstanding mortgage or secured loan – needs deducting from home reversion calculation 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 the home reversion company
How Does A Home Reversion Plan Work?Home reversion plans were the first type of equity release schemes. Only two companies; Crown & Bridgewater offer home reversion plans. Reversions involve selling a percentage of the your property to the home reversion provider in exchange for a tax fee lump sum. You therefore, will own a share in the property which is a fixed percentage for the rest of your life. A lifetime tenancy is arranged which is usually rent free. A home reversion scheme is eventually paid off when the last survivor has died or moved into care. Upon sale, the proceeds are divided between the homeowner & the home reversion provider, in the percentages originally arranged at inception. Should the results of your home reversion calculation fall short of your expectations, don’t worry, just call the Equity Release Supermarket team, as there may be other equity release scheme 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 home reversion calculations. To understand their risks and features, ask for verification of the home reversion calculator results.
You can also try our lifetime mortgage equity release calculator to see how much lump sum you can release.
Home reversion calculations kindly provided by Crown Equity Release.