Tag Archives: Maximum Equity Release

Is an Enhanced Equity Release Calculator Available Yet?

Enhanced equity release calculator tools are available online. These calculators are specific to the enhanced, impaired, or ill health lifetime mortgage schemes on the market rather than home reversion or other lifetime mortgage products. Given the specific nature of these mortgages, the calculator has to take into account more information than the standard lifetime mortgage.

History of Enhanced Equity Release Plans
A decade ago enhanced equity release plans were on the market through Hodge Lifetime and Partnership Assurance. They provided enhanced options through home reversion plans. However, with changes made by the then Financial Services Authority, now the Financial Conduct Authority, the plans were discontinued, leaving the market without any enhanced home reversion or lifetime mortgage schemes.

In more recent years, new lenders have joined the market offering enhanced lifetime mortgage plans. Partnership re-entered followed by new companies like More2Life, Aviva, and Just Retirement. By new we mean new to the enhanced equity release plan, and not necessarily to the market as a whole.

Following the principles of enhanced annuity, enhanced or impaired equity release schemes use health as a way to provide the maximum equity release amount, which is where the enhanced equity release calculator comes in. Be aware that the more severe the illness is the greater the maximum equity amount will be.

Lenders Supplying Tools
Some brokerages and websites have developed the enhanced equity release calculator to help supply the maximum lump sum an individual may be able to take out of their home. Unfortunately, accuracy is difficult to predict due to the myriad questions on the health and lifestyle questionnaire which determines a person’s life expectancy. This questionnaire is coupled with a mortality indices table based on age and illness to give an applicable value.

This means the calculator is designed to give you the maximum amount based on the worst case scenario. You may or may not be a person in the worst case scenario, but that is the result you will get, therefore, you need to speak with a broker before deciding if this loan is truly right for you.

What can Brokers Do?
An independent financial broker specialising in equity release schemes should be contacted once you have a beginning figure for an enhanced equity release product. The adviser will take the enquiry beyond the standard calculator questions to see if there are any other factors that could release the maximum lump sum or if you will only be able to get a smaller amount. The enquiry is based on a Key Facts Illustration (quote) from relevant providers in the market.

A broker is able to discuss your situation with financial companies lending the money for lifetime mortgages. They can discuss whether there are other factors that might release more or see what current products are available to you.

You should be aware that even if something is advertised on TV, the Internet, radio, or through a calculator calculation, you may not be able to get that same product. This is where the broker comes in. They have resources you do not have available.

Why Use the Calculator
You are probably asking why you should use the calculator at all if you still have to speak with a broker. The main reason to use it is to see the potential maximum lump sum. If the maximum lump sum is not anywhere close to the funds you hope to unlock, it gives you an idea of whether lifetime mortgages and other equity release products are right for you.

Additionally, it tells you whether your ill health is a qualifying factor to release more equity than a standard lump sum. It might be a guide number that results, but it does prove whether going on to the next step and speaking with a broker is worth your time.

While the value might change to a lower one, the original calculation result gives you enough of an answer to get started. There are also times when the calculator is not giving you a high enough number because you have multiple health factors. If you can find a maximum lump sum that works for you based on what you input into a calculator and a broker can get more released it might work out better for you. Of course, as you use the enhanced equity release calculator, you do need to remember it is only an estimate. You always want to speak with a qualified professional who is independent to ensure you are getting the very best product for you.

Which Equity Release Company offers Maximum Equity Release from your Home?

Retirement is a difficult time in the current economic situation due to inflation, the ending of the recession, and lower wages. While the economy is repairing itself, many families in retirement or about to retire do not have enough savings to last until death. There is a solution in retirement products including equity release. To gain the maximum equity release from your home there are a few factors that will matter: property value and age of homeowners.

Examining the Factors
Your property’s value determines what you have available in equity. Equity is usually defined as the total value of your home minus any existing loans. Therefore, if you have no loan and the value is £300,000, you have £300,000 in equity.

No mortgage company is going to offer 100% loan to value. They will offer a percentage of the loan to value based on the type of equity release you choose. A standard equity loan has monthly repayments with interest. A lifetime mortgage equity release scheme holds the repayment until the end, including interest you may owe. The interest compounds onto the back of the loan, so in 10 to 12 years, the initial lump sum you received for the loan could double. If you take out £100,000 then it could become £200,000 in 10 or 12 years.

The next part of this retirement product is age. A qualification of most companies offering lifetime mortgages requires any borrower to be 55 years of age at least. There are a few companies requiring an age of 65. In the case of dual ownership, with a spouse or civil partner, the lender will look at the age of the youngest borrower to determine the amount of the loan and if you qualify at all. The idea is the youngest borrower will live longer and will compound interest longer; therefore, the total loan amount needs to reflect the time the loan is outstanding and gaining interest.

Specialist Equity Release Companies
There are companies which target this niche market as a way to provide the maximum equity release to you. Aviva Lump Sum Max, Pure Retirement, and Just Retirement are three such companies offering the maximum amount possible. Aviva’s Lump Sum Max is currently at 5.63% with a fixed interest rate. Pure Retirement offers a product at a fixed base rate of 6.55%. Just Retirement is higher at a fixed interest rate of 6.75%. Aviva and Pure Retirement are two companies offering an incentive for retirees to sign up.

It is up to you, the borrower, to determine which product is best for you and your family. Each company has specific details, which tend to target consumers specifically. One company may not be best for all ages i.e. they may be better for older individuals, versus those just entering retirement.

Independent Advice and Due Diligence
Given the different products on the market, it is up to you to conduct due diligence by finding an independent adviser who can help you research the market and provide you with an equity calculator UK. By using a calculator it is possible to determine the maximum amount available to you. Remember, this is just to give you an idea of potential options. The company still has a say in whether they lend the maximum amount based on your qualifications. An equity release broker is ultimately going to determine the maximum release they will provide.

Also, there is a potential that your ill health could help you receive a larger than typical maximum. If you suffer from an illness, there is a product that provides an increase over the standard terms allowable to most retirees. Companies use theory of mortality tables to determine if someone will potentially die earlier than the average person, thus some of the newer schemes take this into account and will revise the maximum they are willing to offer you.

Aviva, Just Retirement, More2Life and Partnership provide variable levels of enhancement to offer you the maximum equity release possible if you have ill health. By checking with an independent adviser you can conduct research, examine their information, and determine what might be best for you and your family.

Even if you do not have ill health it is possible to get the maximum allowable for your age in a standard product. There are disadvantages with this product. Be aware of these negatives before signing a contract. It is another area your independent adviser can help you with. As always, when looking at financial products, start out with research, calculating possibilities, and then find a product that suits you rather than the lender.

Invest Time Finding an Equity Release Calculator to Determine the Maximum Release

When people have reached their retirement age, despite careful retirement planning, they may find that their income is not sufficient for their desired lifestyle or to cover plans for long term care. The prospect of costly long term care can be a worry for many retired people and few will have the level of income or savings to cover this eventuality. Equity release schemes can offer a potential solution for this dilemma and provide a lump sum, which can be used for any reason. However, many people are hesitant about consulting professional advice without knowing what is the maximum equity release sum available.

Find an Equity Release Calculator

If you have considered equity release, it can be worth investing the time to find an equity release calculator. This will help to determine the maximum release possible, which can allow you to explore whether this option would provide sufficient finance for your needs. The calculator will collate your details including your age, property value and current mortgage balance to provide an illustration of the schemes which could be best suited to your requirements.

Tailored Examples

A great number of calculators assist not only with what is the maximum equity release available, but can also provide tailored examples of the way in which you could choose to receive the funds. For people aged fifty-five and over, equity release provides a tax free sum. However, many schemes offer flexibility about whether you receive the funds in one lump sum or as flexible monthly payments. This can assist you in your retirement planning, and assist you in ensuring that you have not compromised your qualification for other forms of financial assistance that might be available to you. Since the equity release schemes are designed to run as a lifetime mortgage, this means that the loan balance only becomes due for repayment on death or if you move into long term car. At this time, the home is sold with the balance of loan being settled and any remaining funds are passed on to your beneficiaries.

Why Calculators Are Helpful

The equity release industry has flourished over the last few years, with new providers and household names now offering some great deals and schemes. However, it can be difficult to explore your available options and by calculating what is the maximum equity release, home owners can adequately make plans. These online tools can help to establish the limitations of equity release and provide figures to assist the decision making of whether or not to proceed. There are a number of online companies such as CompareEquityRelease.com, which offer different calculators showing the figures involved in conventional roll up plans and lifetime mortgages which are interest only. This enables a comparison to be made and helps in determining which schemes may be better suited to your needs.

Comparing equity release schemes can be challenging, but by finding a good online calculator, it can help you to make comparisons with just the click of a button. There are many independent companies, which offer calculators with access to the entire equity release market without any bias towards certain providers or products. This can help you to find the best possible deal and obtain real time figures to help you in your long term planning.

Help Taking the Next Step

Online tools such as equity release calculators can provide great help in taking the next step. Once you have determined what is the maximum equity release possible for your circumstances, you can then make an informed decision about whether you would like to proceed further. For many people, obtaining this figure can instantly provide information about whether equity release is feasible and optimal for their individual needs. This can save a great amount of time for those who would not qualify and enable those looking to apply, a clarification of the scope and possibilities offered.

Deciding to proceed with equity release can be a huge decision and the anonymity of online calculators allows home owners to explore their options without committing to an appointment with a broker. This can provide assurance that they are making the right decision and supply figures which can be used in discussions with their families. Equity release schemes can provide an excellent financial solution for a great number of retired people. However, it is a new financial commitment and it is important to understand what is the maximum equity release available for your circumstances in order to make informed choices. If you have considered equity release, it can be worth taking the time to find a good equity release calculator to determine your options and the size of release which could be available for you.

How to Calculate the Maximum Equity Release

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.

Just enough for your needs

The starting point is to assess where you stand in relation to the amount you actually require. Therefore, a good way to do this is to calculate the maximum equity release that you can take in the context of your individual needs and circumstances. It would therefore be prudent to discuss what you actually need the extra cash for by itemising your expenditures. Not only this but are these expenditures ALL required during the initial spending phase? Some proposals may have longer term goals which can be set aside for now, others more immediate. These later life expenditures can be incorporated into the longer term goals of your plans.

However, by at least knowing the maximum release possible, you can then either build your spending plans to fit, or curb your expenditures to fit in with this budget provided by the online equity release calculator. The tool should be used for guidance purposes only and never literally so as to pin all your hopes on the outcome of its results. There are still many variables along the way that could still affect the ultimate goal, therefore prudence should be taken.

Often people who consider a release of equity think only about which equity release plans are available and which plan would suit them best. But the more fundamental question in reality is how much can they actually release with an equity release plan, and given the amount they can release, is equity release the right way for them to go?

An independent and qualified equity release adviser can ultimately offer you the best advice and guide you through the different options available. But using an equity release calculator to find out how the maximum you can release is the first step to finding out whether equity release can help you.

Maximum enhanced lifetime mortgage calculation

An equity release calculator requires you to enter your age and property value in order to work out how much money you could potentially release. Bear in mind however, that another determinant in calculating the maximum lifetime mortgage is due to one’s health conditions; both current and past. Therefore, of the best equity release calculators around, of the online varieties, the best will be able to afford to provide two sets of answers; one for a healthy person and the other for an enhanced lifetime mortgage customer.

As you can see the equity release market is evolving at a pace and the industry tools must keep pace with these changes. For this reason, an enhanced lifetime mortgage calculation should always be included in any set of results to ensure that the full picture is presented and those who are eligible to qualify for an enhanced product are aware of its benefits. This is where a full set of tools and advice from an independent source is essential for the calculation of the maximum equity release.

Getting an idea of the largest amount they could release at their age and given their property valuation, helps many people to decide whether equity release plans may be suitable for them, and whether equity release may even help them raise the amount they need!

Using an equity release calculator to calculate a maximum release is therefore the first step to finding out whether equity release is right for you.

How Impartial is the Saga Equity Release Calculator?

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 EquityReleaseSupermarket.co.uk. 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.

To understand whether the Saga equity release calculator is impartial, it is important to understand how an impartial calculator actually works. An equity release calculator takes into account details about your personal information and uses this to work out the maximum equity release possible. Now the best equity release calculators will provide calculations from an independent point of view, thus gleaning data from the whole of the equity release market. As such, all the calculator needs is the enquirer’s age, the current property valuation and access to every equity release provider the market has available.

Negative aspects of equity release calculators

Now, let’s begin to understand the pitfalls of equity release calculators, and how they are sometimes misused. Firstly, some companies use equity release calculators to data mine for personal information including names, email addresses etc. which are then used for unrequested marketing purposes. Sometimes companies could also share personal information obtained from users with other companies and third parties. This is not stringent with the data protection rules as users must be made aware of how their information is going to be used.

Another way to misinform users is to provide only a partial picture of what could be available. If an equity release calculator does not have an up-to-date and full picture of different options available on the market, it will fail to provide objective results, and this is what can happen with some equity release calculators on the market. This may not necessarily be done on purpose, the equity release market is constantly evolving & unless the data behind these calculators is maintained & kept upto date, then false reading may be provided.

Saga equity release calculator

Saga offer an equity release calculator on their website which requires much information to be entered – including name, date of birth, email address, contact details, and home address. It states that the equity release calculator it offers is provided by an external company – Just Retirement Solutions Ltd., which pays Saga an introductory fee or commission if customers take out a plan.

Just Retirement Solutions themselves offer advice only from a panel of equity release companies. They cannot therefore offer the comprehensiveness of classing themselves as ‘independent’ equity release brokers unlike companies such as Key Retirement Solutions, Age Partnership and Equity Release Supermarket, Bower & Responsible Equity Release.

Saga, via Just Retirement Solutions provides recommendations with access to a range of selected providers – such as Aviva, LV= and its sister company Just Retirement! In fact the majority of Just Retirement Solutions business is written through Just Retirement; could this advice therefore be classed as ‘impartial’?

With all of the above information surrounding Saga’s equity release calculator taken into consideration – I will leave you to conclude as to whether or not theirs is impartial or not!

Will a Free Equity Release Calculator be Truly Free?

Equity release schemes have gained much popularity in recent years, and this demand has fuelled the arrival of several new flexible and secure schemes on the market. This surge in demand and popularity can be illustrated by a simple fact – until a few years ago, clients would have had to visit the equity release provider just to find out the maximum amount they could release.

Then, leading comparison websites like Equity Release Supermarket started offering equity release calculators on their website that allows users to quickly find out the lifetime mortgage and enhanced lifetime mortgage maximum availability; and now more websites offer this nifty little application to the potential customers.

What’s the point?

The point of an equity release calculator is to have a simple way for users to get a rough idea of the maximum amount they can release with a particular provider, or through a particular equity release specialist. By having a free and transparent system, not only do users get a fair idea, but providers and specialists also gain from being able to show users how much money they could potentially raise by doing business with them. So providing a truly free, fair and honest service by way of an equity release calculator benefits all parties.

The equity release calculator is always marketed as a free, impartial and very convenient tool. As such, one simply needs to enter some basic information and the calculator shows you the maximums you could release. But while many reputable companies do provide a transparent and objective service, are all equity release calculators equally transparent? For one, what do companies use your personal data for?

The fact is that some lenders and equity release providers misuse the equity release calculator and use it to gain valuable personal data from unsuspecting users. Your personal details are then used for unsolicited marketing and advertising! While this is a commonly used marketing strategy, it is imperative that these motives be made clear to the public, and not many companies do this.

Thus, equity release calculators are potentially a very convenient, objective and free way to get an approximate idea of how equity release could work for you; but some companies misuse this application for data mining and luring potential customers into their marketing ploy. However, there are reputable companies like Lifetime Mortgages.org.uk that do offer a fair, objective and truly free equity release calculator service.

Multi-functional calculators

However, Compare Equity Release.com also offer two calculators, but uniquely provide their customers with 3 equity release solutions in their answers. Firstly, they offer the standard maximum equity release based on a healthy person and at the same time offer the maximum enhanced lifetime mortgage maximum release aswell. This helps people with adverse health conditions to see the ‘benefit’ in equity release terms that impaired health can offer them by way of an extra tax-free lump sum.

Lastly, Compare Equity Release.com will also offer the usage of their interest only lifetime mortgage calculator. So if you are over age 55 and looking to find out how much an interest only retirement mortgage from the likes of Stonehaven, more2life and now Hodge Retirement Mortgage Plan can offer then visit their website at www.compareequityrelease.com or call them on 0800 028 3104.

Will an Equity Release or Interest Only Lifetime Mortgage Calculator Provide the Biggest Lump Sum?

Experience shows that when it comes to finding out which scheme offers the maximum equity release, confusion reigns over whether it’s the roll-up equity release plan or an interest only lifetime mortgage. With equity release schemes becoming very popular in recent years, more people than ever are conducting their own research before approaching an equity release broker to implement their plans.

Roll-up and interest only lifetime mortgages give homeowners the option of releasing some of the equity tied up into their property, without the need to sell the home and move out. The cost of living during retirement is on the rise, and with shrinking pension funds, poor annuity rates and increasing costs for care, many retirees are looking for flexible ways to optimise their financial assets. There are many different equity release plans available today, and which equity release mortgage suits you will depend on what exactly you need.

For instance, someone may need an extra cash injection for a one-off expense, while someone else may need a regular income to supplement their retirement income. Someone may want to release equity while also protecting some of the equity for their beneficiaries, while someone else may find it more important to understand what is the maximum equity release cash lump sum? Which equity release plan works for you will therefore depend on what it is you need and one of the ways of establishing this is with the use of equity release calculators.

If you need to release a maximum equity release lump sum from your property, roll-up equity release plans generally come out on top, when compared with interest only lifetime mortgages. While the exact terms of the plan depend on which equity release plan you look at, generally speaking roll up equity release plans can afford to allow for a bigger lump sum release than interest only mortgages, and you can see this by checking with different equity release calculators.

Stonehaven enters the maximum calculation

One exception to this would be the Stonehaven Interest Select Max Plan, which allows for maximum borrowing. Stonehaven’s Interest Select plans offer a viable alternative to roll up type equity release schemes, in which equity release can either be done on an interest only or roll-up basis. Any interest repayments are considered to be contributions towards the repayments, so you are free to pay as much or as little as you wish each month. It is also possible to stop payments altogether and convert the plan into a roll up equity release plan. This is a great safety net for those who require security of tenure and peace of mind.

The Stonehaven Interest Select Max option allows for the maximum lump sum release, at a fixed interest rate for the entire length of the plan. For instance, for a male applicant aged 65 years, with a property valuation of £200,000, with the maximum select option, you could release as much as 29% of the property value. This works out to £58,000, which is comparable to if not higher than some roll up equity release plans. However, this still doesn’t result in the maximum equity release.

Absolute maximum enhanced calculation

A recent innovation in the field of lifetime mortgages is the enhanced lifetime mortgage plan. Effectively using health as a factor influencing the loan-to-value, equity release underwriters will gather information on one’s health and lifestyle via a questionnaire. How severe the health of the individual(s) is will affect the size of the maximum lump sum. Therefore, someone who is overweight, a smoker, maybe suffered a heart attack, diabetes or cancer could find their health has actually helped them attain a bigger lump sum. Therefore, to get an accurate idea of the maximum lump sum ensure you have access to an enhanced lifetime mortgage calculator aswell as the standard devices.

Which equity release scheme allows you to release maximum equity depends on your individual circumstances, including age, property valuation and now health. Enhanced lifetime mortgage plans will usually offer the greatest lump sum, but on certain occasions, Stonehaven’s Interest Select Max option can prove to be a more viable alternative should you have the disposable income to make monthly payments and thereby protecting your next generation’s inheritance.

Where Do I Find an Enhanced Equity Release Calculator UK?

Does an Enhanced Lifetime Mortgage Calculator UK Exist?

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.

The next stage in the evolution of lifetime mortgage calculator was the introduction of the enhanced lifetime mortgage calculator on the internet. Of the four equity release companies that offer enhanced lifetime mortgages, (Aviva, Just Retirement, more2life & Partnership) an accurate enhanced calculator will pull the maximum release from each of these schemes & display these results.

An enhanced lifetime mortgage plan is basically a type of loan that allows you to access the equity tied up into your home, but takes your state of health into account. The mortgage is repaid when the property is sold, when the term of the plan ends, which is usually after you die or have moved into permanent care. At that stage, your beneficiaries will usually have 12 months to repay the lender, which invariably will come from the sale proceeds of the property.

There are different types of enhanced lifetime mortgage schemes UK, each with different lending and repayment criteria. Add to this the fact that each variable, including the applicant’s age, the value of the property, the amount needed to be released etc. determines how the loan is underwritten. The overriding factor with regards to the maximum enhanced release being possible is the severity of the health records. Basically, by completing a health & lifestyle questionnaire and answering the questions therein, will determine the effect it will have on the maximum equity release.

An enhanced lifetime mortgage calculator takes into account the type of equity release scheme, the lending terms of the particular provider, as well as the applicants’ variables such as age, property value, health and loan amount etc. to calculate how much the plan will cost.

An enhanced lifetime mortgage UK plan is different from a regular equity release scheme in that it has more generous terms of lending, based on certain special circumstances related to the life expectancy of the applicant. When it comes to a loan, the shorter the term of the loan, the lower is the risk for the lender. As such, in circumstances where the applicant has compromised health, a chronic illness, or a lifestyle that impinges on their life expectancy, lenders are able to lend at more generous terms.

In addition to offering the regular lifetime mortgage calculator, some equity release comparison websites also have the enhanced lifetime mortgage calculator. For instance, Equity Release Supermarket offers users the choice to get a quote for enhanced lifetime mortgage based on additional relevant information.

So why does an enhanced lifetime mortgage calculator UK need additional information? Because this is the information that it uses to project the expected term of the loan, which in turn determines the figures. The additional information is usually a simple health & lifestyle questionnaire with questions about your age, any serious illnesses, and any chronic health conditions you may suffer from.

The lifestyle questionnaire is used to find out whether any impairment one has will be acceptable to the lifetime mortgage companies to form the basis of any enhanced terms. These impairments or lifestyle choices that help qualify for the enhancements are as follows: –

You height, weight & for some lenders your body mass index (BMI)
Whether you smoke any form of tobacco e.g. 10 cigarettes per day for the last 10 years
Diagnosed with high blood pressure which needs medication
Entered hospital due to a heart attack, stroke or suffer from related illnesses such as angina
Struggle with diabetes requiring medication or even insulin
Diagnosed with cancer needing therapy (excludes certain skin related cancers)
Diagnosed with Parkinson’s disease or multiple sclerosis

Just retiring on the grounds of poor health can get you an enhancement or even the fact that you are taking prescription medication e.g. aspirin can help.

Therefore, similar to the underwriting of enhanced annuities, the equity release market has also embraced the more in-depth knowledge our insurance companies have in associating ill-health with financial products; equity release now being the latest.

But do not fear as there are websites that can help guide you to the relevant companies & tools you can employ that will provide you with the enhanced calculations to inform you of the difference any enhancement can make to the tax-free lump sum.

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!