Equity release calculator

The equity release calculator gives an estimate of how much you could release from your home, based on the age of the youngest borrower and the property's value, and shows how a lifetime mortgage balance can grow as interest rolls up. It is a planning tool that helps frame the conversation with an adviser before any application.

The result reflects the figures entered rather than any lender's offer. Lenders set their own maximum release at each age and their own rates, so actual offers can differ. How equity release works overall is explained in the equity release guide.

The calculator asks for the age of the youngest borrower, the value of the home, any mortgage still owed and, for the growth view, an interest rate and a number of years. Age matters most, because lenders release a larger share of the value to older borrowers, whose plans are expected to run for a shorter time.

Any existing mortgage has to be cleared from the money released, so it reduces what is left to spend. The rate entered should come from a current illustration rather than a guess, because small changes in the rate make a large difference to the balance after many years of compounding.

Health and lifestyle can raise the amount on an enhanced plan, which the calculator does not model. How lenders price plans is set out on the equity release ratespage.

Use the result to test a few scenarios: a smaller release, a drawdown plan that takes money in stages, or making voluntary interest payments. Each changes how much of the home's value is left for your estate. The estimate also helps when comparing equity release with downsizing or a retirement interest-only mortgage.

A regulated adviser must assess the plan before it goes ahead, and the adviser's illustration will show the lender's real figures, fees and early repayment terms. Independent legal advice follows before completion. The calculator is not a quote, a lending decision or advice.