Using an equity release calculator
So you've reached the point where you're realising the money you have coming in at the moment isn't quite enough to allow you the financial freedom you desire. You might be struggling to make ends meet and are starting to look at what solutions are out there. You've heard about equity release but you're not quite sure whether you would qualify. Well, the easiest way to get an idea is to use our equity release calculator.
As long as you or a family member are over 55 and either own your home or have a small mortgage, you should qualify to release the equity in your home. Our equity release calculator will provide you with the opportunity to assess for yourself what tax-free amount you could receive through Age Partnership's equity release recommendation.
By simply inputting into our equity release calculator some basic information like your property's value and the age of the youngest applicant, our system will tell you whether you are likely to qualify and, if so, how much equity you will be able to release from your property.
For example, if your property is valued at £200,000 and the youngest member of the house is aged 65 our equity release calculator will tell you that with a lifetime mortgage, you would be able to release up to £63,000. At 70 years of age, that amount would increase to £73,000 and at 80 years of age, it would increase to £93,000.
Our equity release calculator also allows you change some information to see any alternative projections. For instance, you can change the amount you wish to release of your maximum entitlement, the rate of interest you'll pay and you can enter your own view of annual house price inflation to determine exactly what equity will remain at the end of a period of time which you can also input. Of course the figures you receive are to be used as a guide only.
Once you've filled in the basics, our equity release calculator will give you enough information to consider whether an equity release plan is right for you. We will also ask for your address so that we can send you more specific information and a free guide to equity release.
As always, we welcome the chance to discuss this with you over the phone so please feel free to request a callback via our website or phone us on freephone 08080 555 222
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