How Much Equity Can You Release From Your Home?

Use our equity release calculator to find out exactly how much you can release from your home.

Not only this, we'll send you a free guide in the post for you to read at your leisure.

Equity Release is an agreement between a homeowner (usually aged 55+) and a provider that allows the homeowner to unlock the money tied up in their home.

Equity in your home is the difference between the home's fair market value and the outstanding balance of all mortgages, secured loans and charges on the property.

Equity Release is a way to borrow against the equity you have built up without having to make monthly payments or having to move home.

Also, if you choose the Lifetime Mortgage you will maintain 100% ownership of your property. What's more, you are guaranteed to be able to stay in your home for as long as it is your main residence.

The money you receive is yours to spend as you please and what's more, as the equity is already yours, it is totally tax-free.

You can also choose how you would like to receive the money - whether it be a regular monthly income, a cash lump sum or a mixture of the two.

1) Retirement can be a time of fixed income and many people have valuable homes but little spare cash. Equity release can provide tax-free cash to help alleviate this problem.

2) You can use the cash you release to spend as you wish.

3) You may want to use the money to take that holiday youve always dreamed of, perhaps visiting family that you havent seen for years.

4) You might want to buy a new, more reliable car to help you get around. You could even use the extra funds to help support your family, children or grandchildren.

5) Many people simply use the money they release to make up the shortfall some people experience when they retire.

6) It could affect your entitlement to some state benefits and may affect your tax position.

7) All plans will reduce the value of your estate.

Equity release is a decision best made with all the information. Use our calculator to work out how much is available to you. We will also send you a copy of our equity release guide.

If you are interested in learning more, you can contact us on 0800 012 4180 to discuss your needs with a view to arranging a face-to-face home visit with one of our independent financial advisers.

Our advisers will lay the plans out in black-and-white, providing an illustration of exactly how much you can receive and what the costs will be. Our visits are free, relaxed and carry no-obligation to proceed.

If you feel equity release is for you, our advisers will advise you on the best plan that fits your needs & priorities. From here, we would look to arrange an independent valuation on the property. We have offers from the major lenders where a valuation can be offered free of charge (ask us about these).

Once the valuation has been carried out, an offer will be instructed. You will need to visit a solicitor to discuss the offer before signing. If you don't have a solicitor we would be happy to put you in touch with a solicitor well versed in equity release.

Once you have seen the solicitor and signed the documents, they will conduct their conveyancing work and you will receive a cheque in 2 weeks upwards. Our record here at Responsible is 9 days from application completion but we always say allow 4 plus weeks.

Are you still thinking how do I release equity?

Testimonials

I found your website and your ethos to be just up my street. I particularly like the way you explained SHIP and its relationship to equity release
Mr. Ingrid

Your equity release calculator helped me to understand where I stood and what my options were. The free guide I received helped me to explain what I had learned to my husband so a big thanks is in order.
Mrs. Kinsel

In order to release equity on a home, the following criteria usually needs to be met:

- To qualify you must be aged 55-95.

- The home in question must be your permanent main residence and lived in by you for over six months of the year.

- You must own the home from which you are releasing equity.

- The home must be worth at least 70,000.

An organisation called SHIP are responsible for laying out the code of conduct to the equity release providers in the market.

Independent financial advisers can explain who are SHIP members and which member may offer the plan most suitable to your needs.

Click the link to learn more about SHIP equity release