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Equity release calculator

equity release calculator

By Richard Groom • Updated 14th December 2023 • 6 min read

Lifetime mortgage calculator – no contact details required

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 details 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:

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

How to use our 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.

First, we ask for your age. If you are likely to apply for a joint equity release plan, for example with your spouse or partner, please enter the age of the youngest applicant.

Next, we ask for your property type. You will see this is pre-set to ‘house’ (which also includes bungalows) as this is by far the most common type of property in the UK. If you own a flat or maisonette you may find that you can release less money than with a house of the same value. Please contact us for more information and a personalised quotation. 

Finally, we ask for your property’s value. If you haven’t had your property valued by an estate agent recently, an approximate value will be fine at this point (search for similar local properties on Rightmove or Zoopla as a guide). Please deduct any outstanding mortgage from your property’s approximate value for a more realistic indication of how much you may be able to release.

Try our free equity release calculator

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Your maximum release is likely to be between:




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 0808 178 3055 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.

Which factors affect 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. If a joint plan is being taken out, the youngest of you will need to be aged 55 or older. Also, the age of the youngest borrower will heavily influence how much equity you can release.

The way that age affects the maximum you can release varies from provider-to-provider, and even within different products offered by the same provider. It’s also something that can change as market conditions alter. But as a guide, in December 2023 the maximum release levels ranged from about 20% for a 55-year-old to about 50% for an 85-year-old. 

Your property value

The more the property is worth, the more you will typically be able to release. Equity release lenders will usually require your property to be worth at least £70,000, rising to £100,000 for certain property types such as ex-council houses. Criteria differs across providers and our selected advisers can advise on each provider’s criteria for your property.

The amount of equity you have in the property is also relevant. As an example, if your property is worth £300,000 and has no outstanding mortgage, you would typically be able to release more than if you still owe £30,000 on your mortgage.

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. 

The calculator results explained

When you use our free equity release calculator, the result will show you a range of how much you can release. These figures are based on information about maximum release levels provided to our selected advisers by a number of the UK’s leading equity release providers.

What is ‘loan to value’?

The loan to value (LTV) is the relationship between how much you release and your property value. For example, if your property is worth £100,000 and you borrow £10,000, the LTV is 10%

The LTV is relevant when it comes to the interest that your equity release lender will charge. Lenders typically offer a lower interest rate for smaller LTVs. One way you may be able to reduce the interest rate you are offered is to apply to borrow less than the maximum release available to you.

Examples of maximum cash release levels

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: 

Maximum release for people of different ages with a property worth £250,000

AgeMaximum Release
55£50,000 - £63,750
60£62,500 - £81,250
65£75,000 - £93,750
70£87,500 - £106,250
75£100,000 - £120,000
80£112,500 - £130,000
85£122,500 - £135,000

Maximum release for different property values for a 75-year-old

Property valueMaximum Release
£100,000£40,000 - £48,000
£150,000£60,000 - £72,000
£200,000£80,000 - £96,000
£250,000£100,000 - £120,000
£300,000£120,000 - £144,000
£350,000£140,000 - £168,000
£400,000£160,000 - £192,000
£450,000£180,000 - £216,000
£500,000£200,000 - £240,000
£700,000£280,000 - £336,000
£1,000,000£400,000 - £480,000

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.

Property construction

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.

Property location

Equity release is available throughout most of the United Kingdom, but there are some areas where your choice of lenders will be restricted. This can affect the amount you can release from your property. For example, fewer providers and plans are available in Northern Ireland, the Scottish Islands and the Channel Islands. Therefore, you may not be able to access the products offering the most money if you live in these areas.

Location within an area can also be a factor. Lenders will want to know that properties are saleable, since a sale at the end of the plan is how the loan is repaid. They may therefore be reluctant to lend on properties such as those next to a noisy pub or an especially busy road or railway line – or they may reduce the maximum release available.

Second homes and buy-to-let properties

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.

Joint vs single plan

The amount you can release with a joint plan is based on the age of the youngest applicant. That means that you might be able to release less with a joint application than if you were to apply on a single applicant basis.

Overcoming this is not a simple issue, as lenders typically won’t let couples apply on a single basis. There are some potential ways around this, however, and our selected equity release advisers will be happy to discuss your circumstances and options.

Plan features

A wide range of features are available across providers’ product ranges. For example, some plans waive early repayment charges in some circumstances. Others will include the option of an inheritance protection guarantee where you can ring fence a percentage of your home’s future value for your loved ones to inherit. In some cases, opting for one or more of these features may affect how much equity you can release.


If you have a financial arrangement with someone living with you, you may find your choice of equity release plans restricted. As a result, you may not be able to access the plans that would otherwise have enabled you to release the maximum cash available.

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.

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, so in effect the amount of money you can access for other purposes will increase.

Examples of lifetime mortgages on a £250,000 house

We’ve looked at the maximum release levels from four of the UK’s leading providers, based on information they have available online. We wanted to see how they differed in terms of maximum release levels for people of different ages.

In the examples below, we are assuming the applicant has a property worth £250,000 with no outstanding mortgage. 

At Age 55

LenderProduct Maximum release (LTV)
Legal and GeneralFlexible Lifetime Mortgage ‘Graphite’ £21,250 (8.5%)
Legal and GeneralFlexible Lifetime Mortgage ‘Yellow’ £43,000 (17.2%)
JustJ3 Lifetime Mortgage£22,500 (9.0%)
Pure RetirementSovereign Flexible and Sovereign Flexible Elite Lifetime Mortgage£33,750 (13.5%)
Canada LifeCapital Select Lite Lifetime Mortgage£35,000 (14.0%)
Canada LifeCapital Select Platinum Lifetime Mortgage£50,000 (20.0%)

At Age 65

LenderProduct Maximum release (LTV)
Legal and GeneralFlexible Lifetime Mortgage ‘Graphite’ £47,500 (19.0%)
Legal and GeneralFlexible Lifetime Mortgage ‘Yellow’ £68,000 (27.2%)
JustJ3 Lifetime Mortgage£53,000 (21.2%)
Pure RetirementSovereign Flexible and Sovereign Flexible Elite Lifetime Mortgage£58,750 (23.5%)
Canada LifeCapital Select Lite Lifetime Mortgage£62,500 (24.0%)
Canada LifeCapital Select Platinum Lifetime Mortgage£75,000 (30.0%)

At Age 75

LenderProduct Maximum release (LTV)
Legal and GeneralFlexible Lifetime Mortgage ‘Graphite’ £72,500 (29.0%)
Legal and GeneralFlexible Lifetime Mortgage ‘Yellow’ £93,000 (37.2%)
JustJ3 Lifetime Mortgage£80,000 (32.0%)
Pure RetirementSovereign Flexible and Sovereign Flexible Elite Lifetime Mortgage£83,750 (33.5%)
Canada LifeCapital Select Lite Lifetime Mortgage£85,000 (34.0%)
Canada LifeCapital Select Platinum Lifetime Mortgage£100,000 (40.0%)

At Age 85

LenderProductMaximum release (LTV)
Legal and GeneralFlexible Lifetime Mortgage ‘Graphite’ £93,750 (37.5%)
Legal and GeneralFlexible Lifetime Mortgage ‘Yellow’ £114,250 (45.7%)
JustJ3 Lifetime Mortgage£91,250 (36.5%)
Pure RetirementSovereign Flexible and Sovereign Flexible Elite Lifetime Mortgage£96,250 (38.5%)
Canada LifeCapital Select Lite Lifetime Mortgage£97,500 (39.0%)
Canada LifeCapital Select Platinum Lifetime Mortgage£112,500 (45.0%)

Please note that these are examples for illustrative purposes, based on information available as at 07/12/2023. The maximum release available to you will depend on your own unique situation and the plans available to you. For example, you may be able to release more on account of adverse health or lifestyle factors with an enhanced lifetime mortgage. Our selected equity release advisers will welcome the opportunity to provide you with personalised illustrations and quotations from leading providers based on your own circumstances.

What else should I consider before releasing equity?

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.

Paying back equity release

So far, we have focused on factors that influence the maximum amount of money you can release from your home. But of course, you don’t have to release the maximum amount – especially if you want to minimise how much will need to be paid back.

Equity release is typically paid back when the last homeowner passes away or moves into residential long-term care. Your home is put up for sale to repay the loan and any interest that has accrued. Any money left over is given to your estate and distributed according to your will.

You also have the option of paying off the loan early, for example if you choose to downsize to a less expensive property in the future. You risk incurring early repayment charges by repaying your plan early, though some plans include exemptions to these charges in some circumstances.  

Compound interest

It’s especially important to understand how compound interest can increase the amount that will need to be paid back in the future. This form of interest is common across all lifetime mortgage plans. It means that the lender charges interest on the loan amount AND the interest already accrued. As a result, the overall amount due can escalate considerably over the years. Please see our compound interest calculator for more information.

Are there alternatives to equity release?

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 0808 178 3055. 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.

Answering your questions

Still unsure of a few things? We’ve got you covered with answers to some of our most frequently asked questions.

What are early redemption charges (ERCs)?

Early redemption charges (ERCs) are fees or penalties you may incur if you repay or redeem your equity release plan before a specified period has elapsed. Some equity release plans have capped or fixed ERCs, meaning there’s a maximum limit on the charges regardless of the amount repaid. The specific terms of ERCs can vary among different products and providers, so it’s essential to carefully review the terms and conditions before entering into an equity release agreement.

Is equity release expensive?

Equity release is considered an expensive form of lending, largely due to the way that compound interest builds up on a lifetime mortgage (the most common form of equity release) unless you pay the interest in full each month. Also, interest rates for equity release products tend to be higher than those for traditional mortgages. However, you may find that the ability to access tax-free cash with no requirement to make repayments in your lifetime outweighs the cost.

Before considering equity release, it’s crucial to carefully weigh up the costs and benefits. Seek advice from financial advisers or specialist equity release advisers who can help you understand the overall cost of this form of lending. They can also help you explore alternatives such as downsizing or other forms of borrowing.

Do I qualify for equity release?

Typical eligibility requirements for equity release are that you should be aged 55 or older and own your own home that’s worth at least £70,000. Each lender will have their own criteria, for example in terms of the property’s type, condition and location. Please read our guide to equity release eligibility for more information.

What are the pros of equity release?

Although equity release isn’t for everyone, there are a number of potential advantages of this style of lending that may appeal to you, depending on your circumstances: 

  • You can unlock the money you need without having to sell your home.
  • You can continue to live in your home for life, or until you move into residential long-term care. 
  • You can move your equity release plan to a new home if you move in the future, providing your new home meets your lender’s suitability criteria. 
  • There are no mandatory monthly repayments as the loan plus interest is paid back through the sale of your home.
  • You do have the option of making regular interest payments if you wish to reduce the amount of interest that accrues. 
  • You can choose to receive the money as a single lump sum, or as smaller amounts as and when you need them. 
  • If your home increases in value in the coming years, you may be able to arrange for an additional release of equity.
  • The Equity Release Council’s ‘no-negative equity guarantee’ means you or your beneficiaries will never owe more than the value of your home.

What are the downsides of equity release?

It’s important to understand the potential disadvantages of equity release and the risks of this form of finance. Here are some of the main ones to consider:

  • Equity release will reduce the value of your estate and the amount of inheritance you can leave to your family.
  • The total loan amount owed can grow quickly as the interest rolls up on a compound basis.
  • Increasing your income or savings through equity release might affect your entitlement to some means-tested state benefits. You can read more in our article on equity release and means-tested benefits.
  • There may be early repayment fees if you repay the loan plus interest early, although some lenders waive these in some circumstances.
  • If you give the money you release to others as a gift, they may be liable to pay inheritance tax in the future.

How much does equity release cost?

If you’re thinking about accessing some of your property wealth through equity release, it’s important that you understand the fees and charges (in addition to the interest that will accrue over the lifetime of your plan). Each provider will have their own fees and charges, but typically you may find they have valuation, arrangement, application and completion fees. 

You will also need to pay legal fees and costs, which can vary depending on the complexity of your situation and application. These might include legal advice fees, a surveyor’s fee, bank transfer charges, Land Registry fees and so on.

You will also typically pay an advice fee to the adviser who helps arrange your plan. However, initial advice or information you receive from our selected advisers is free: you will only pay them a fee if you apply for a plan they recommend AND your case completes. 

Some of these fees can be paid from the money you borrow, so you may not have to worry about finding them from your existing savings. Also, some lenders might waive some or all of these fees; our selected advisers can explain more during the advice and quotation process. 

You can read more in our guide to the fees and charges of equity release.

What does the no negative equity guarantee mean?

The no negative equity guarantee means that neither you nor your estate will owe more to your equity release lender than your property is worth. It means for example that your family won’t have to make a payment if your property is worth less than the outstanding loan plus interest when you pass away.

All providers who are members of the Equity Release Council agree to abide by the no negative equity guarantee. For your peace of mind, our selected advisers only recommend plans from members of the Equity Release Council.

Will I be taxed on the equity I release?

You will not have to pay income tax on the money you release. This is because the money is a loan, and as with other loans the cash you borrow is exempt from the taxes that apply to other forms of income. 

The one exception to this could be if you release money and put it into savings. In that case, you may be liable to pay tax on the interest that you receive on these savings. However, it is unlikely that anyone would recommend you release cash through equity release in order to boost your savings account. This is because the interest charged by the lender will likely be much more than interest you could earn on putting your cash release into savings. 

How safe is equity release?

When you take out a UK equity release plan, you have peace of mind from considerable consumer protection. For example, anyone advising you on equity release or providing an equity release product must be regulated by the Financial Conduct Authority (FCA). This is the UK’s financial services regulator and watchdog.

Also, if you only deal with advisers and providers who are members of the Equity Release Council, you will know that they have agreed to follow its code of conduct and standards. This means, for example, that they have committed to giving you ‘fair, simple and complete’ information about any equity release plans they recommend or provide so that you can make an informed decision.

How can we help?

To find out more about equity release or arrange a consultation with an adviser, please call or request a call back and we’ll be happy to help further.

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