Equity Release Calculator
Estimate how much equity you could release from your home and how a lifetime mortgage balance could grow over time.
Existing secured borrowing normally has to be repaid from the released funds or other savings.
Age-based cap estimate: 20.0%
A homeowner aged 0 with a £0 property and £0 mortgage could model a gross release of £0, leaving an estimated £0 before fees after repaying the mortgage. With rolled-up interest, the modelled balance is £0 after 0 years.
How equity release works
Lifetime mortgage basics
- Usually available from age 55
- Secured against your main residence
- Existing mortgages are normally repaid first
- Loan is usually repaid when the property is sold
Why advice matters
- It can reduce inheritance
- It may affect means-tested benefits
- Early repayment charges can apply
- Alternatives like downsizing should be considered
Frequently asked questions
What is an equity release calculator?
An equity release calculator gives an illustration of how much a homeowner might release through a lifetime mortgage. It is not a quote, offer or personal recommendation.
What age do I need to be for equity release?
Most UK lifetime mortgage providers require the youngest applicant to be at least 55. Older applicants can usually access a higher percentage of the property value.
Does equity release have monthly repayments?
Many lifetime mortgages do not require standard monthly repayments. Interest can roll up and be repaid from the eventual property sale, although some plans allow voluntary payments.
Can I use equity release to repay my mortgage?
Yes. If there is an existing mortgage or secured loan, it normally has to be repaid when the equity release completes.
Is equity release right for me?
That depends on your circumstances. Equity release can affect inheritance, means-tested benefits, tax and future care options, so regulated advice is essential before proceeding.
Reviewed by the Mortgage118 editorial team. This calculator provides an estimate only and does not constitute mortgage, tax, benefits or legal advice. Equity release is a regulated product and can affect inheritance and future options.