One of the most popular products for releasing equity from your property is the equity release mortgage. Lifetime mortgages as they are more commonly referred to, allow you to borrow a sum of money and the loan is secured against the property in the form of an equity release lifetime mortgage. With equity release mortgages and lifetime mortgages you generally get a fixed rate of interest so you always know how much you will have to pay back. Use the lifetime mortgage calculator to find out how much you could release.
Another way to release equity from your property is via home reversions, these plans are very different equity release schemes than the popular mortgage version. As always we would recommend seeking independent financial advice and to use an equity release calculator to find out how much you might be able to borrow.
At one point many years ago there was over 30 different mortgage plans available, nowadays though there is only a handful of equity release uk providers to choose from.
Lifetime Mortgage Calculator
You can use a lifetime mortgage calculator to help you find out how much equity you can release from your property given your age and property value.
There are alternatives to consider before making a choice about an equity release lifetime mortgage, one of these is to use your retirement investments until they have been diminished to a few thousand pounds, these equity investments may be generating an income for you at present. It does make sense to seek the advice of an independent financial adviser.
