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Any starting point in equity release research needs to be assessing whether your goals can be accomplished. An equity release calculator will net your results to provide an overall maximum release. Whether this is for the more popular roll-up lifetime mortgage, or interest only lifetime mortgage, the answer to these are essential to prevent wasting your time trying to realise an impossible dream.The EquityReleaseCalculator.net website provide a suite of calculator tools & information appertaining to releasing equity from your main residence. By establishing the maximum equity release possible, enables you to continue further your research into finding which equity release schemes meet your requirements.

What Facts Exist About Interest Only Lifetime Mortgage Calculators?

The Facts – Interest Only Lifetime Mortgage Calculators

An lifetime interest only mortgage calculator can be used to establish the maximum release possible from an ever increasingly popular type of equity release mortgage plan.

To recap, a lifetime interest only mortgage is a type of equity release scheme where you can actually make monthly or ad-hoc interest repayments. The principle loan amount does not need to be repaid each month and is only recovered at the end of the mortgage term, which is at the end of life, or when you move into permanent long-term care. At this point the property is sold, and the lender recovers the balance which usually should be within a 12 month period.

Interest only lifetime mortgages are becoming an increasingly popular type of equity release scheme due to the increasingly savvy over 55-year-old age group. Having grown up with a lifetime of mortgage debt, baby boomers reaching retirement now have much experience in how to manage mortgage debt & the associated monthly payments. Therefore, why when one gets to retirement why should this potential form of finance be pulled from their resources?

How does the interest only lifetime mortgage work?

Since you only need to repay the interest, these interest only lifetime mortgages work out to be more affordable for many people than regular residential mortgages. Another important factor that contributes to their popularity is that providing you make regular and full interest payments each month, the final balance on an interest only lifetime mortgage can remain level throughout the term of the loan. Great news for the kids!

Interest only lifetime mortgages, like regular equity release schemes, have no fixed term and involve no capital repayment. As such, the interest only calculations that decide the feasibility of such mortgages are quite different from regular equity release mortgages. As with any equity release plan or mortgage, there are certain fixed eligibility criteria for interest only lifetime mortgages with respect to age, valuation of property and affordability. These are the factors which are used to underwrite a loan of this type. While there are a number of websites offering equity release calculators, interest only lifetime mortgage calculators are only featured by companies offering niche products and advice who can invest in a specialist application such as this.

Interest only lifetime mortgage rates

An interest only lifetime mortgage calculator allows you to work out how much your mortgage would cost you, based on relevant variables including your age, property value, loan requirement, single or joint application and affordability of the applicants. The older you become the more you can borrow on the schemes with a maximum release of 50% of the property value. There are currently four providers in the market which offer interest only lifetime mortgages. These are Stonehaven, Hodge Lifetime, Holmesdale Building Society, and more2life. Obviously, each company has its own lending criteria, including minimum age for single applicants, joint applicants, minimum property value, minimum monthly payment, and each lifetime mortgage has different rates of interest starting from just 4.75% (5.1% APR) which is the Hodge Retirement Mortgage Plan.

The current minimum applicant age for Stonehaven, Hodge Lifetime and more2life interest only lifetime mortgages is 55 years, with a minimum property valuation starting from £70,000. The minimum age is 70 years for the Holmesdale Building Society lifetime mortgage. Since these are the set criteria for the mortgages, these also apply to their interest only lifetime mortgage calculators.

So, if you are looking into the possibility of equity release don’t always assume that your only option is a roll-up lifetime mortgage scheme. Has your adviser even asked whether you would like to make some form of monthly repayments? In fact Stonehaven & more2life even allow you to set your on monthly payment from as little as £25pm which helps fit in with monthly budgets. Remember to sit back & take stock before deciding.

Seek ALL available options as many people are these days are considering interest only lifetime mortgages or a retirement mortgage more commonly. If unsure & would like advice on your interest only lifetime mortgage options call 0800 471 4796.

What are the Implications in Taking Maximum Cash from an Equity Release Calculator UK?

Implications of Taking the Maximum Lump Sum from an Equity Release Calculator UK

To understand the implications of borrowing the maximum amount that the results an equity release mortgage calculator UK give you, it is necessary to understand what an equity release does, as well as to understand how borrowing more than you need can be potentially risky.

Although equity release plans have become much safer today than many years ago, there are potential equity release problems that everyone should be aware of before releasing equity. This must always be discussed and the dangers be highlighted before pressing the buttons of the equity release mortgage calculator UK tool.

One of the most common concerns or equity release problems that people have with equity release is that the scheme could potentially erode all the value of their property, thereby affecting any inheritance they may wish to leave behind. This can be a concern for some, but not for all & therefore it is the duty of your financial adviser to establish these steps with you.

Years ago, there was also the possibility of negative equity where the beneficiaries could have to end up paying the equity release provider due to a loan that had grown bigger than the equity in the house. Today, however, this is not a possibility as all equity release plans now come under the auspices of the Equity Release Council (formerly Safe Home Income Plans –SHIP) which means they come with a no negative equity guarantee. This is kind of indemnity policy for the lender which guarantees that the beneficiaries cannot end up owing more than the value of the property. The worst case scenario is that they will receive nothing if the mortgage balance is equal to or more than the value of the property.

An equity release calculator UK can help you find out the current maximum amount available in the market that you could be able to release from your property. As such, equity release calculators give you an idea of the maximum amount of money that you could release, which is not the same as the amount you necessarily should release!

Nonsensical reasons to release equity

Releasing the maximum equity from your property when you don’t really need all the money could result in one of the most common equity release problems – complete devaluation in the equity within your property. It will mean that if the money isn’t needed just yet it will probably sit in your bank account, earning next to no interest, while you will have to pay interest on the amount to the equity release lender! The average rate of interest on roll up equity release schemes today is around 6%, whilst even the best ISA rates are little over 3%. Therefore, taking the maximum release when not fully required, is poor financial planning.

A roll up equity release plan works on the principle of compound interest. This means that the interest charged on the balance is added to the principle amount and interest is charged on the combined amount, and so the cycle continues. This means that with interest rates of around 6%, the balance on your account could potentially double in about 11 years! Care & precise financial planning are important to gauge the sensible level of borrowing should these schemes be the best option for you.

Delay for as long as possible

With this factor in mind, age can also be an important consideration in how much you take & when. We have just seen the projected equity release calculation for a UK customer. Taking equity release at age 55 will have a potentially longer term to run based on life expectancy than someone of 80 years of age. Therefore, more caution should be exhibited when applying for equity release schemes at a younger retirement age. Preferably, anyone considering equity release at age 55 should try & delay if possible to age 60 before taking a release of equity.

Releasing the maximum that an equity release calculator UK shows you may be useful and necessary for some, but it also has its dangers and can lead to some common equity release problems and bad press!

As illustrated above, it could potentially increase the debt disproportionately, erode your estate and encroach on your beneficiary’s inheritance. It is important to fully understand all the implications of an equity release plan. A qualified equity release adviser can explain the terms and consequences of each option and help you make the right decision.

NB. Don’t be afraid to say ‘no’ if now isn’t the right time, or reason to do it.

How do I Establish the Maximum Release with a Home Equity Calculator?

These equity release schemes can be held even while you are continuing to live in the house, but you do retain 100% ownership rights. The equity release market has opened up in recent times, and today, many different types of equity release schemes and providers are available.

Different equity release schemes operate on different terms. For instance, a lifetime mortgage is available to individuals over the age of 55. In the case of joint applicants, the youngest applicant must also over the age of 55 years. So in a lifetime mortgage, the age of the applicant’s and the value of the property are the main criteria used by the lenders underwriters.

In case of enhanced lifetime mortgages (poor health persists), the main criteria are the health of the applicant’s, age of the applicants, and the value of the property. Each case needs to be assessed individually to determine how much equity can be borrowed. However, it is possible to predict how much you could borrow through the different equity release schemes available on the market through a tool known as equity release or lifetime mortgage calculators.

Calculation qualification criteria

An equity release calculator is an online tool that is designed to use the data provided by the user to work how much equity they could release. The equity release calculator can, based on the age of the applicant, approximate the value of the property, health and lifestyle circumstances of the applicant, and current market data, work out how much an applicant will be able to borrow. However, the maximum figure shouldn’t necessarily be withdrawn all at once. The figure should only be used to ascertain whether you financial requirements can be met, or not.

This can be a useful way to not only determine how much money an equity release scheme can help you borrow, but also the type of equity release scheme that could allow you borrow the maximum amount. The home equity release calculator may not be able to give an entirely accurate figure, as that will ultimately depend on the lender, but it proves to be a very good way to find the right direction in the quest to find the right equity release mortgage.

The free equity release calculator tools can be found online, on reputable and reliable financial comparison sites, or on equity release advice and information websites. It is free to use and a great way to get a sense of which equity release plan might be the most suitable for your needs.

What are the Top 5 Equity Release Calculators?

Review of the Top 5 Equity Release Calculators

A good equity release calculator is one that is free, simple to use, transparent and offers impartial results. While there are numerous websites offering equity release calculators, only a good and truly objective calculator can help you get a fair idea of how much you could release. Here’s a list of the top 5 equity release calculators available today: –

1. Equity Release Supermarket – are one of the original independent equity release companies offering advice and guidance about the different equity release schemes available in the UK. In fact, this was one of the first websites to develop the basis of the equity release calculator for users to calculate the maximum release. The calculator itself is simple to use, well designed and gives quick and comprehensive results every time. Two results are published by this company, which is more than most. Equity Release Supermarket not only provides the standard maximum equity release, but also will provide the figures for an enhanced lifetime mortgage.

This means that if you have poor health you also receive a higher calculation figure which could be applicable. As always they state this is acts as a guide & should endeavour to contact their advisory service on 0800 028 3104 to obtain an accurate quotation. Equity Release Supermarket has an extensive database of providers and plans and its comparison tools let you search the entire equity release market to find the most suitable deal. Once you calculate the maximum release you are provided with the option of whether you wish to submit your details to receive further advice & ensure qualification for any of the lifetime mortgages available in the whole of the market.

Mark Gregory is their founder & can be contacted at mark@equityreleasesupermarket.co.uk

2. Compare Equity Release – CompareEquityRelease.com is one of the best comparison sites in the equity release sector, offering information and guidance about all the different equity release & home reversion products currently available in the market.

The website is easy to use, well designed, with a convenient equity release calculator app that lets you answer the most important question that anyone has while considering equity release – ‘how much can you borrow?’

Compare equity release is the only website that goes one step further than providing a standard & enhanced lifetime mortgage calculation. Not only has a free lifetime mortgage calculator, but also a free interest only lifetime mortgage calculator. It is one of the few websites that compares between all available equity release plans to come up with the maximum potential release for any given age. The style of the two calculators is modern & in keeping with today’s internet savvy silver surfers.

CompareEquityRelease.com can be contacted on Freephone 0800 028 3104 or by email at admin@compareequityrelease.com

3. Equity Release Calculator – EquityReleaseCalculator.net is an independent calculation website that provides useful information on all matters relative to an equity release calculator. Therefore, if you require further knowledge on how these calculators work, plus the pros and cons of an equity release calculator, then this site holds a mass of information on the subject.

The site also features many articles on the subject of how to release equity and what is equity release. So there is plenty of information abound on the calculating of the maximum equity release.

4. Equity Release2go – EquityRelease2go.com is a relatively new independent equity release website that offers a free equity release calculator. The website itself is simple to navigate and the calculator is easy to use if somewhat difficult to locate on the website. Additionally, EquityRelease2go.com have a separate section detailing the best equity release deals available including cashbacks, free valuations & reduced interest rates available to its customers.

Being a relatively new website, certain features are set to follow which given the message the site provides should be soon!

However, they can be contacted on 0800 028 3104 or by visiting their contact page here – http://www.equityrelease2go.com/contact

5. Aviva Equity Release – their equity release eligibility calculator performs many functions; qualifies your age, property value and property type. In addition you have the option of inputting an inheritance protection percentage which will affect the ultimate result.

This level of options can be afforded as the Aviva equity release calculator only works its calculations based on its own products which are the Lifestyle Flexible Option and the Aviva Lump Sum Max.

Therefore, the results shown are only relevant to Aviva’s own equity release plans & do not represent the whole of the market. If you are looking for the maximum equity release from the whole of the market there may be companies that offer larger releases of equity out there.

These are some of the most objective, impartial and easy to use equity release calculators. They are free and can offer an instant quote of the maximum release for your age and property valuation. The more established and reputable the company, the more reliable they are likely to be!

Where Can I Find Companies That Provide Equity Release Solutions?

Which Companies Can Provide Equity Release Solutions?

Recent surveys have shown that a large number of pensioners are homeowners with a size-able amount of equity tied up in their homes are suffering from a credit crunch and are unable to fund their day-to-day expenditures or have no money for that big one-off expense. In other words, there are numerous people around the UK, who are property rich, but cash poor.

Such equity release solutions allow them a way to release some of the equity in their home in the form of conveniently usable cash. This money can be released either as a lump sum or in the form of irregular installments. The uniquely attractive feature of equity release plans is that they allow you to tap into the value in your home without the need to move out or sell the property. Irrespective of what type of equity release you choose, you can continue to live in your home until you die or move into long-term care.

Types of equity release solutions

There are two main types of equity release plans – home reversion schemes and lifetime mortgages. Home reversion involves selling a percentage of the house to the lender in exchange for the money. At the moment companies offering home reversion plans are Newlife Mortgages, Bridgewater Flexible Release Plan and Hodge’s Shared Growth option.

Lifetime mortgages offer the other type of equity release solutions – wherein instead of selling a part of the house, the lender sets up a secured 1^st legal charge on the property. There are also interest only lifetime mortgages where you can repay the interest monthly, thus maintaining a level balance on the loan. Such companies offering the interest only lifetime mortgage solution is Stonehaven with its range of Interest Select plans or more2life’s interest choice plan.

Latest product development

A recent innovation in this domain of interest repayment is from Hodge Lifetime with its flexible repayment lifetime mortgage. Although the repayments of interest cannot be on a monthly basis, Hodge Lifetime do allow upto 10% of the original amount borrowed to be repaid each year without penalty. Becoming a serious player now in the equity release marketplace, Hodge Lifetime have set down the gauntlet to other companies lacking in ingenuity and ideas with their current and future plans.

The most common form of equity release are the roll-up lifetime mortgages where the interest is added to the principle amount and compounded over time. This means that the debt effectively rises yearly for the rest of your life, until you either die or move into long-term care. Hence, before entering into one of these contracts you should always discuss your intentions with your family first & then arrange an Equity Release Adviser.

There are other types of equity release schemes which do include the drawdown lifetime mortgage such as Aviva’s Lifestyle Flexible Option, designed for those who want to have the option of borrowing more in the future without any obligations. For those who want the biggest lump sum, enhanced mortgages such as more2life’s Enhanced Lifetime Mortgage may be suitable, providing they meet the health & lifestyle questionnaire.

These are some examples of equity release solutions designed to suit different needs, and some companies that offer these products. There are, of course, many more providers within each sector. The best way to find a suitable deal is to compare different equity release plans, and seek independent advice from a qualified equity release adviser.

How Can I Use an Equity Release Calculator to Find the Best Lifetime Mortgage?

Equity release schemes are a great means to acquire a lump sum of money or monthly payments. The advantage of the equity release loan is that typically, it does not have to be paid back until the time of the sale of the property, or the 2nd borrower passes away.

There are various sources to help property owners find the best equity release providers that offer the most competitive rates in the industry. Online is one of the simplest and most convenient means to find the many lifetime mortgage lenders. Some of these equity release providers utilise innovative tools for the property owner such as equity release calculators, which are a simple means to determine just how much equity you can withdraw from your main residence. The advantage of the equity release calculators on the various websites is that you are able to shop, compare equity release deals and get a general idea of the maximum release of equity lenders will offer.

How do equity release calculators work?

Equity release calculators are convenient and completely confidential. The better equity release calculators can provide two maximum lump sum calculations. The reason being that the roll-up lifetime mortgages can be based on a healthy & an enhanced lifetime mortgage rate.

For example a single male, age 65 & in good health would be able to raise a maximum of 30% of the property value with Aviva on their Lump Sum Max plan. However, should the same male suffer from a history of poor health such as high blood pressure, taking mediation, heart trouble or cancer then the maximum release could rise to 38.5%. On a property value of £250,000 this could equate to an additional £21,250 in borrowing power.

Beware of imitations

A good equity release calculator will provide these two figures accurately & under no obligation. So beware of some equity release brokers offering a calculator where they will try & request your personal details in order for some sales person to then contact you. These calculations should provide you with answers not have to necessarily having to come from an adviser.

The mechanics of an equity release calculator

The calculators are very simple to use. The property owner is only required to input simple information that is specific to their existing property, such as their ages, current property value, and any outstanding mortgage amount. Within seconds of submitting these details the results should be published. Websites such as EquityReleaseCalculator.net provide equity release calculators that can offer three sets of results on their one site: –

Standard roll-up lifetime mortgage maximum lump sum
Enhanced (impaired life) maximum roll-up lifetime mortgage
Interest only lifetime mortgage maximum lump sum

When a homeowner decides on a UK equity release scheme, they should ensure that the lender they are dealing with is Financial Conduct Authority (FCA) accredited and that the loans that they offer meet the FCA guidelines and regulations. This provides the property owner with the assurance that they receive a safe and fair loan and that the company is trained in FCA regulations. Additionally, all schemes they deal with should be members of the Equity Release Council (formerly SHIP) which provides extra safeguards such as the no-negative equity guarantee, early repayment ability & moving house option.

Summary

If you are at the early stages of equity release research & looking for the best deals, you need to now firstly whether you can actually borrow the amount required. Look for an independent equity release adviser such as the Compare Equity Release company with nationwide financial advisers. Once the optimum lump sum is established they can then source the best equity release deals in the whole of the market.

If you wish for a calculation then Compare Equity Release are available on 0800 678 5169.

How Much of a Payout Can You Expect With Equity Release?

How Much of a Payout Can You Expect With an Equity Release Plan?

Qualification criteria for equity release

Of course, the first fundamental factor that will be taken into consideration for equity release will be your age. With equity release schemes, the minimum age is 55 years; however, there are some types of plans such as home reversion plans, where the age may actually be set at 65. The older you are when you choose to take out an equity release plan, the more money you can expect to release through your property. This makes sense as it means that the lenders will be able to take control of your property more quickly in the event of your death or move into permanent health care.

The next important criteria that will be taken into account is the actual value of your property. Obviously, the higher the value, the more money could potentially be released to you in terms of a home equity release scheme. There are various websites that provide upto date sales in the locality which offers an insight into current market valuations. However, bear in mind that the valuation is conducted by an independent firm of surveyors. They will assess the market value based on a relatively quick sale and use similar properties that have sold recently to gauge the price point.

If you are looking to make a joint application for equity release, the lender will tend to focus primarily on the youngest applicant and this is likely to mean a lower payout if there is a large age differential. This is because this youngest applicant would be expected to remain within the property for longer, due to their extended life expectancy.

Also, it is imperative that both parties are over the age of 55, otherwise lenders will not accept any application if the property is in joint names. However, if this is your situation there is still a way of taking equity release in one parties name, if they are willing to come off the deeds. This is a specialist area of advice and one that an experienced equity release adviser can discuss & outline the pros and cons of taking this course of action. Please call someone such as Equity Release Supermarket whom have appropriate later life advisers on this legality on 0800 678 5159.

How much does an equity release calculation cost?

There are numerous sites on the internet which offer equity release calculators and these are an ideal way of ascertaining the maximum payout that would be available to you through an equity release plan. These are freely available without any initial commitment on your part and are a great way of starting to learn about exactly what equity release schemes may be able to offer you. Never pay to use one, as free equity release calculators are widely available on the internet.

Calculation examples

The most important question posed by people who are looking at equity release plans is the maximum release possible. With schemes that start at age 55, Aviva usually provide the maximum lump sum which is 20.5% of the property value for a single borrower. Thus on a property value of £250,000 a single 55-year-old could release upto £51,250. This amount rises steadily, usually at the rate of 1% for each year one gets older, so at age 85 the maximum release on standard rates by then is 52% of the property value equating to £130,000 in this example.

Enhanced lifetime mortgage benefits

However, a recent innovation in this area of maximum releases has been the introduction of the enhanced lifetime mortgage plan. Based on health & lifestyle questionnaires, the more serious your health situation means the greater the size of the lump sum offered. Again, this is down to life expectancy which for ailments such as heart trouble, high blood pressure & diabetes can affect matters.

The effect of ill-health can make a significant difference if one is looking for the absolute maximum release of equity, possibly for mortgage repayment or debt consolidation purposes. An impaired life 55-year-old with a property value of £250,000 could now release upto £85,250 – an extra £34,000!

To establish whether you qualify for an enhanced lifetime mortgage contact equity release mortgage specialists such as EquityReleaseCalculator by calling Freephone 0800 471 4796.

How Best to Use an Equity Release Calculator

How Best to Use an Equity Release Calculator?

Others see the benefits of an equity release calculator as a way of assessing how to supplement their pension, which has lost so much value in the past few years. With annuity rates having fallen significantly over the past years, the current return on a capital lump sum for income purposes has become a major threat as to the future of whether an annuity now provides good value for money.

Finding out how much you can borrow

Whatever the reason for wanting to find out more about equity release schemes, the best place to start is to find out how much can be borrowed. The only way to ascertain these figures is via an equity release calculator. For all these people looking towards equity release as an option then a discussion with their financial adviser is an important step toward understanding more about what an equity release plan can offer. However, by using an equity release calculator, such people can go into the conversation with a bit of additional information which might help to make the proceedings that much easier.

Enhanced lifetime mortgage calculator

Remember, if you suffer from ill-health either now or in the past then seek an equity release calculator website that offers answers on an enhanced lifetime mortgage basis aswell. If you do qualify for an enhanced equity release scheme then you will be offered a greater maximum lump sum than the norm.

Such companies offering enhanced equity release schemes are the likes of Aviva, Partnership, more2life and more recently Just Retirement with their Lump Sum Plus Plan. Check with an Equity Release Council (ERC) & Financial Conduct Authority (FCA) regulated equity release adviser for further information & whether you can qualify for the maximum lump sum, if that’s the amount you require. There are many equity release calculators on the internet. They are not like a normal mortgage calculator, but rather a form in which different parameters are set.

What factors are used in the calculation?

In order to obtain an accurate lifetime mortgage calculation the equity release lender needs the following information as a minimum: –

the value of the property
the property type (e.g. house or flat)
the age of the youngest applicant (min 55)

This data will provide the maximum cash release figure for a healthy person.

To further assist & possibly achieve a greater lump sum than standard rates, an impaired life equity release plan maybe available. If you have suffered from any of the following illnesses, then you may qualify for what’s termed an ‘enhanced’ or ‘impaired’ equity release plan:-

suffered from angina, heart attack, coronary bypass surgery or angioplasty
diagnosed with cancer, leukaemia, Hodgkin’s disease, lymphoma, tumour
diagnosed with diabetes which is controlled by medication or insulin
whether you smoke more than 10 cigarettes or rolled tobacco per day
have high blood pressure (hypertension) which requires medication
previously had a stroke (CVA)
diagnosed with MS (multiple sclerosis) or Parkinson’s disease requiring use of a walking stick or aid
taken early retirement due to ill-health?

This information is usually free & simply one click away once the information is entered.

What answers will equity release calculators provide?

The amount shown on an equity release calculator is the maximum tax-free cash lump sum possible, and this makes it a good place to start discussions about the implications of this figure and what the next steps are. Thankfully, when the results are provided there is usually also the ability to make contact with an independent financial adviser, who can then assist in making further recommendations about an appropriate equity release plan.

Note that some people might prefer to take out a smaller mortgage than what is shown to be available on the calculator, and this is possible. In fact, it is most likely going to be the case, as your equity release adviser will explain. Don’t assume you should always take the maximum release. This will erode the equity in your property quicker than by taking a lower initial amount & further top-ups in the future.

Any responsible equity release adviser will only advise you take an initial amount to cover your first 12 months of financial support. This will mean a lower amount of interest to pay in the shorter term. With the advent of drawdown equity release schemes, you can take the remaining tax-free lump sums as and when you require them. The minimum’s future drawdowns can vary between lenders, however even Aviva’s Flexi Plan now has a minimum of just £2,000 a time. This will save your estate £1000’s in the long run and also leave more in the kitty for yourselves at a later date not having paid as much interest.

Therefore, when initially making considerations about what home equity release plans can do, equity release calculators are a great place to start.

Q. How is it Best to use an Equity Release Calculator?
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With people over age 55 looking to financial products to help them to achieve their goals, it is becoming increasingly obvious that equity release calculators are achieving a fair amount of interest. For some, equity release calculators enable people over 55 to ascertain whether they can raise enough finance for a specific project or major purchase. By calculating the maximum equity release possible will help retirees ascertain whether their objectives can be fully met, or contingencies made. Others see the benefits of an equity release calculator as a way of assessing how to supplement their pension, which has lost so much value in the past few years. With annuity rates having fallen significantly over the past years, the current return on a capital lump sum for income purposes has become a major threat as to the future of whether an annuity now provides good value for money. Read More

Q. How Much of a Payout Can You Expect With an Equity Release Plan?
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The most important question that will come to mind, whenever you’re considering equity release, is exactly how much of a payout you can expect to receive if you commit to such a scheme? The simple answer to this question is by no means cut and dried and this article is intended to help you recognise some of the factors that will eventually dictate the amount of money that you can expect to receive. Ultimately, it will be an equity release calculator that provides the answer to this question. However, in order to obtain a calculation several factors need to be ascertained.
Qualification criteria for equity release
Of course, the first fundamental factor that will be taken into consideration for equity release will be your age. With equity release schemes, the minimum age is 55 years; however, there are some types of plans such as home reversion plans, where the age may actually be set at 65.The older you are:- Read More

Q. How Can I Use an Equity Release Calculator to Find the Best Lifetime Mortgage?
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Equity release plans are a type of loan that allows property owners to withdraw money from their residential home. These loans, in previous years, were just for property owners that were over 65 years of age and older. However, today, the equity release providers have tended to offer the loans to property owners of 55 or more.
Equity release schemes are a great means to acquire a lump sum of money or monthly payments. The advantage of the equity release loan is that typically, it does not have to be paid back until the time of the sale of the property, or the 2nd borrower passes away.
There are various sources to help property owners find the best equity release providers that offer the most competitive rates in the industry. Online is one of the simplest and most convenient means to find the many lifetime mortgage lenders. Some of these equity release providers utilise innovative tools for the property owner such as equity release calculators, which are a simple means to determine just how much equity you can withdraw from your main residence. The advantage of Read More

Q. How do I Establish the Maximum Release with a Home Equity Calculator?
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Equity release can be a very useful tool and are suitable for those who want to optimise their assets. It allows you to take a release of equity that has built-up in your property over time. This is where retirees benefit from property ownership of the years. Although there have been many peaks and troughs in house values, the overriding effect has been the creation of mass equity in people’s home. However, is this all beneficial when you cannot get your hands on it?
These equity release schemes can be held even while you are continuing to live in the house, but you do retain 100% ownership rights. The equity release market has opened up in recent times, and today, many different types of equity release schemes and providers are available.
Different equity release schemes operate on different terms. For instance, a lifetime mortgage is available to individuals over the age of 55. In the case of joint applicants, the youngest applicant must also over the age of 55 years. So in a lifetime mortgage, the age of the Read More

Q. How Does Age Effect the Release of Equity Calculators?
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Equity release is a way to withdraw some of the cash value tied up into your property. While traditionally the only path for a release of equity would be to sell the property, equity release offers a more flexible way to continue living in your home while accessing the cash tied up into the property. This can only be facilitated by receiving advice from a qualified equity release consultant, in conjunction with an equity release provider themselves such as Aviva, Just Retirement, Hodge Lifetime & many more of these niche mortgage lenders. Read More

Q. How Much Equity Release Should I Borrow?
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The crucial decision with any equity release application is deciding on how much tax free cash you should take. In order to obtain the correct advice with regards to these lending decisions you should certainly consult with a qualified equity release adviser.
By discussing your capital requirements, both immediate & in the future, you can assess which type of lifetime mortgage would be favourable for you & how much cash you should apply for.
Five important questions you should therefore be asking yourself are:- Read More

Q. How Could an Equity Release Calculator Help my Retirement Plans?
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Financial planning during retirement is becoming increasingly important. With rising living costs, growing costs of care, and a shrinking public expenditure budget, it is only wise to use your financial assets optimally to provide for you during retirement. It is no surprise then that equity release plans have become so popular among older homeowners in recent times.
Equity release plans offer a way to tap into the equity tied up into a home in the form of a cash lump sum or monthly cash payments and use it towards anything you wish. The money is repaid only when the property is sold, which is usually upon death or when you move into permanent long term care. There are no restrictions on what the money can be used for, and it allows a way to use the cash from your home without the need to sell and move out. Equity release therefore offers a way to optimise your property value without any restrictions on what the money can be used for. Read More

Q. How Can the Proceeds from Equity Release Schemes be Spent?
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There are two main reasons why equity has caught on and become increasingly popular in the past few years. Firstly, it allows homeowners to access the cash value of their asset without having to sell it or move out, and secondly, there are no constraints placed by equity release providers on how the money can be spent.
Different people have different reasons for wanting to release equity from their home. Most equity release schemes allow for release either options in the form of a single lump sum or as regular withdrawals from a drawdown facility which can then be utilised as an income. This makes it a flexible option for people with a variety of needs, whether it is someone who needs cash for funding a holiday or someone who needs a supplementary income during retirement. Read More

Q. How Does the Aviva Equity Release Calculator Compare to Independent Equity Release Calculators?
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An equity release calculator is meant to calculate the maximum release equity that you could potentially release from your property. While only a few companies offered an equity release calculator until a few years ago, today, most independent advice companies, as well as providers, have followed suit and offer equity release calculators on their respective websites. So when using an equity release calculator, is it better to go directly to a provider, or use an independent calculator from the whole of the equity release market?
The best way to get the most out of an application such as an equity release calculator is to have a calculator that provides a free and simple way to calculate maximum potential release, and gives up-to-date and impartial results. However, specific equity release providers such as Aviva are bound to have only their own products on the database of their calculator, and can therefore show a very limited picture of what could be available to you. Read More

Q. How Impartial is the Saga Equity Release calculator?
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There was a time when anyone wishing to find out the maximum equity release they could take from their property had to make an appointment with a particular provider and ask them directly. This means going to great lengths just to find out a simple answer. Today, with the development and access to free equity release calculators, finding out how much you could potentially release is a quick and simple process.
When equity release calculators were first introduced, they were available only on select websites such as London Equity Release.com. Today however, they are available everywhere! Most providers have a calculator on their website, and various independent advice companies also offer equity release calculators to enquirers and potential customers. Read More

Q. How do I Calculate the Maximum Equity Release?
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Equity release plans can offer a flexible way to optimise your financial assets. With new more secure equity release plans available today, it is possible to manage the amount of equity in your home exactly as you intend to; while also protecting your inheritance. But after all is said and done, equity release ultimately works by devaluing your main asset – your home.
While equity release plans do provide a valuable solution to many, it is not suitable for everyone. It can involve selling a portion of your home in the case of home reversion, and having a life-long mortgage secured on your property in case of lifetime mortgages, so there are many implications to be aware of that on the face of it may not be obvious. An equity release plan is therefore something that has a major effect, not only on your life but ultimately also for your beneficiaries. As such, it is important to be fully sure that it is the best possible way to help you achieve your goals. Read More

Q. Where Can I Find an Enhanced Equity Release Calculator
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So what do equity release calculators do, and is there such a thing as an enhanced lifetime mortgage calculator UK? Until a few years ago, a lifetime mortgage calculator was quite a novel application, only offered by a few select websites that allowed users to quickly calculate how much their equity release plan would endear them with as a tax free cash lump sum. Today of course, there is no shortage of lifetime mortgage calculators on the internet, as most mortgage comparison and advice websites offer this useful application to users. Read More

Q. Where Can I Find Companies that Provide the Equity Release solutions?
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Equity release has seen a massive surge in popularity in the past few years. This growing demand has fuelled the sector and today we have more providers, with a wider portfolio of more flexible equity release plans than ever before. While equity release is not suitable for everyone, the variety of equity release plans means that it is certainly likely to be a suitable solution for a lot more people today than ever before. Recent surveys have shown that a large number of pensioners are homeowners with a sizeable amount of equity tied up in their homes are suffering from a cash crunch and are unable to fund their day to day expenditures or have no money for that big one off expense. In other words, there are numerous people around the UK, who are property rich, but cash poor. Read More

Q. Where Can I Find a Prudential Release Calculator for Existing Plan Holders?
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Prudential is no longer offering lifetime mortgages to new customers. However, Prudential had one of the most successful lifetime mortgage schemes at the time, so there are currently plenty of existing plan holders who still have a Prudential lifetime mortgage plan. So, can existing customers release additional equity from their property? And if so, is there a Prudential equity release calculator that can help existing plan holders understand how much they could release? Read More

Q. Where Can I Find and Compare the Best Equity Release Schemes Calculators?
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Over a decade ago, releasing equity from your home was virtually unheard of. Today, equity release plans are flourishing, with more and more people choosing to turn to the equity in their homes for relative financial security during retirement. Equity release is not suitable for everyone, but it does provide a flexible solution for many, and the growing popularity of equity release plans are proof of this. Many new and more flexible products have become available in recent times, and the fact is that the equity release sector has never looked more vibrant. Read More