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Find out how much tax-free cash you could unlock from your home with our easy-to-use equity release calculator. In just two steps, you’ll get an estimate of the maximum amount available to you, without any obligation. For a precise calculation and expert advice, get in touch with us today.

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Please note: the amount showing in the result is for Illustration purposes only, please get in touch with our Expert advisor to receive the full advice based on your personal requirements and circumstances.
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How is Equity Release Calculated?

Lenders typically assess the following key criteria to determine the maximum amount you can borrow through a lifetime mortgage, the most common type of equity release:

  • Age of the youngest homeowner – Must be at least 55 years old.
  • Property value – Minimum £70,000 and located in the UK.

In some cases, lenders also consider your health. Enhanced equity release plans may allow you to borrow more if you have health conditions that could shorten life expectancy. By completing a health and lifestyle questionnaire, you could access a larger loan amount.

Our calculator gives a quick estimate of the potential loan amount available through lifetime mortgages, home reversion plans, and retirement interest-only (RIO) mortgages. However, exact figures may vary based on lender criteria, property type, and other factors.

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Portrait of Amit Mittal - owner of Expert IFP

Understanding the Cost of Equity Release

The final balance of your equity release loan depends on several factors, including:

  • Interest rates – Interest compounds over time unless repayments are made.
  • Loan term – The mortgage runs until the last homeowner passes away or moves into long-term care.
  • Early repayment charges – Some plans may have penalties for early repayment.

To get a clear understanding of the costs involved, speak with our expert advisers. We can provide a personalised illustration showing how your balance could grow over time.

What Percentage Can You Release?

The percentage of equity you can release depends on your age. Generally:

  • The older you are, the more you can borrow.
  • Enhanced plans may allow higher borrowing if you have qualifying health conditions.

For example, a homeowner aged 60 with a property valued at £300,000 might release up to 27% (£81,000). At age 80, this could increase to 50% (£150,000).

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What should I do if the calculator says I don’t qualify?

If you don’t qualify, consider speaking with an equity release specialist to explore alternative options or eligibility criteria.

Can I use an equity release calculator for a second home?

Most equity release schemes are designed for primary residences, but some lenders offer options for second homes or buy-to-let properties.

Is the amount shown on an equity release calculator guaranteed?

No, the figure is an estimate. The actual amount will be determined after a full financial assessment by a lender.

What types of equity release plans can a calculator estimate?

Most calculators estimate lifetime mortgages, the most common form of equity release. Some may also provide guidance on home reversion plans.

Does an equity release calculator include interest rates?

Many calculators include estimated interest rates, but the exact rate will depend on the lender and your personal circumstances.

What factors impact how much equity I can release?

Key factors include your age, property value, location, and any outstanding mortgage or secured debt on the property.

Can I release equity from my home if I have bad credit?

Yes, as equity release is not based on credit history but on your age and property value. However, lenders may have specific criteria to meet.

Will an equity release calculator show me the total cost of the plan?

Some calculators provide estimated interest rates and costs over time, but for a full breakdown, it’s best to consult a financial adviser or lender.

How often should I check an equity release calculator for updates?

It’s a good idea to check periodically, especially if interest rates or property values change, as these can affect your potential release amount.

How does an equity release calculator work?

An equity release calculator estimates how much tax-free cash you could unlock from your property based on factors like your age, property value, and outstanding mortgage.

Can I use an equity release calculator if I still have a mortgage?

Yes, but any existing mortgage balance will need to be repaid from the released funds before you can access the remaining amount.

Are there any fees for using an equity release calculator?

No, equity release calculators are typically free to use and do not require any payment or commitment.

Will using an equity release calculator affect my credit score?

No, using an equity release calculator does not impact your credit score, as it only provides an estimate without performing a credit check.

How does my age affect the amount I can release?

Generally, the older you are, the more equity you can release. Lenders offer higher loan-to-value ratios to older applicants due to life expectancy factors.

Is an equity release calculator accurate?

Equity release calculators provide a rough estimate, but the actual amount will depend on your lender’s criteria, interest rates, and your financial circumstances.

Other services we provide
Lifetime Mortgages
Estate Planning
Savings & Investments
Protection Planning
Retirement Planning
Mortgages & Buy to Let

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To start your journey with Expert IFP, all you need to do is reach out to us and we will assess how we may be able to help. We ask that you complete the simple form below noting what specifically you are looking for help/guidance on and what your main objectives are. We’ll take it from there.

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