Equity release calculator UK – instant result

Calculating your maximum tax-free equity release

Deciding whether equity release is right for you likely starts with a simple question: how much can I release? That’s why we’ve created a super-simple equity release calculator that you can use right away, with no personal information required.

As well as the calculator itself, we’ve put together a guide to how the calculator works, how to get more detailed personalised quotations, and other things to be aware of. Here’s what you’ll find on this page:

• What are the main factors used to calculate the maximum release?
• Use our simple equity release calculator.
• Examples of maximum release levels based on age and property value.
• What else could influence my maximum release?
• Other issues to be aware of.
• Are there alternatives if my maximum available release is insufficient?
• Get your personalised equity release quote.

We hope you find this article and our equity release calculator useful. But if you’d prefer to talk to one of our selected advisers right away to get personalised quotes, please call us on 0800 096 2215 or request a call back. 

Please note that this article and our equity release calculator relate to lifetime mortgages, which is the most popular form of equity release.

What are the main factors used to calculate the maximum release?

The two main factors that equity release providers use when calculating the maximum you can release are:

• Your age. The principle is that the older you are, the more you can release, starting at a minimum age of 55 with most providers.
  
• Your property value. The more the property is worth, the more you will typically be able to release. 

Further down this page we look at other factors that can affect your maximum release. But we’ve kept things simple by basing our equity release calculator results on age and property value. 

Use our simple equity release calculator.

Our lifetime mortgage calculator will give you an indication of the maximum amount you may potentially be able to release, without having to provide further information at this stage.

Note: If you are likely to apply for a joint plan, please enter the age of the youngest applicant.

Please note: This free equity release calculator is for illustrative purposes to give you an initial indication of the potential for releasing equity from your property. It is based on maximum release data at April 2023 from leading UK equity release providers our selected advisers partner with. Your chosen provider may have a different method for calculating the maximum release than the result shown here.

Please get in touch for your personalised quotation

You can quickly get personalised quotations based on your unique circumstances. Simply call us on 0800 096 2215 or request a call back at a time that suits you and we will arrange an appointment with one of our selected advisers. They’ll be able to check your eligibility and search for the best quotations from leading providers. This service is offered free and with no obligation to accept any of the quotes you receive.

Examples of maximum release levels based on age and property value.

Based on the data about providers’ maximum lending criteria used in our lifetime mortgage calculator, here are some examples of the way that different ages and property values affect the maximum release available: 

Please note: These are for illustrative purposes and the amount you can release may vary. However, they do provide a handy guide to the way that age and property values influence the maximum available release.

What else could influence my maximum release?

A number of other factors affect the maximum release that a provider will offer. We haven’t built these into our equity release calculator to keep things simple: our selected advisers would need to take a few minutes to run through these additional factors:

Your health and lifestyle

Did you know that you may be able to release more equity if you have certain health conditions, a history of medical conditions, or have made lifestyle choices such as smoking or drinking? This is because some providers offer enhanced lifetime mortgages where your health and lifestyle are taken into account.

The type and location of your property

Lenders tend to offer the highest maximum releases on properties of ‘standard’ construction. That means properties made from brick or stone with a slate or tiled roof. You may be offered less for non-standard properties. Some non-standard properties and other types of property are not eligible for equity release – see our guide to ‘Why are some properties not eligible for equity release?’ for more information.

Whether the release is from your main home or another property

Equity release is typically done on someone’s main residence, and this is the assumption made in our equity release calculator. However, some lenders offer second home lifetime mortgages and buy-to-let lifetime mortgages. The maximum amount you can release on these properties may be less than would be available on your main residence.

The interest rate

If you take the maximum release you are offered, you will also typically have the highest equity release interest rate on your plan. On the other hand, you may be able to get a lower interest rate by borrowing less.

Other issues to be aware of.

The money you release can be used for everything from simply boosting your pension income to clearing debt, home improvements or enjoying a holiday. But bear in mind that you may need to use some of the money you release for other purposes first:

Paying off any outstanding mortgage

A condition of equity release is that you clear any outstanding mortgage on your property. You can do that with some of the money you release – whether that’s to clear a repayment mortgage or the capital owed at the end of an interest-only mortgage. You would also need to clear any other loans secured against your property.

Fees and setup costs

As with a normal residential mortgage, some costs are involved in setting up a lifetime mortgage. These may include the lender’s valuation, arrangement and completion fees, broker/advice fees, and solicitor/legal fees. Unless you pay these from your income or savings, you will likely pay them from the money you release, so this will reduce the amount of cash available for other purposes. 

Our selected advisers will of course explain all of these costs. You’ll be fully informed about the overall cost of equity release, and the amount of cash you will have available once you meet these costs.

Cash back

Some equity release plans come with a cash back facility. The lender gives you an extra lump sum, in addition to the money they lend you. You don’t have to pay this extra money back, and you won’t pay interest on it. You may be able to use this cashback to put towards the setup costs of your plan.

Are there alternatives if my maximum available release is insufficient?

Equity release isn’t always the most suitable way to raise cash in later life. Sometimes it won’t raise enough money, or there may simply be more cost-effective ways to meet your financial goals. Your other options may include downsizing or borrowing with a retirement interest-only (RIO) mortgage. 

Please see our guide to alternatives to equity release for more information – or contact us and we’ll arrange an appointment with one of our selected advisers. They specialise in other forms of later life lending in addition to equity release, so they can discuss other options with you.  

Get your personalised equity release quote.

To find out how much cash you can release, call our friendly team on 0800 096 2215. They can connect you to one of our carefully selected advisers who can answer all your questions, check your eligibility and get personalised quotes. Alternatively, request a free call back here to arrange a call at a time that suits you.