One of the main questions that someone thinking about equity release may have is:
“How much can equity can I take out of my home?”
The amounts that the different equity release providers can offer you does depend on a wide variety of factors. These factors can usually be split up into two seperate groups – Homeowner Characteristics and Plan Characteristics.
The homeowner characteristics that usually affect how much you can release are the age of the homeowner and the value of their property.
The Plan Characteristics that usually determine the equity release amount are whether its a drawdown plan or a lump sum plan (the drawdown plan giving you the option to have a reserve on which to draw and the lump sum plan giving you all the cash at once). The interest rate can also determine which plan allows you to release the most.