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See how much cash you can release from your home.
What are the Benefits?
- Unlock cash from your home.
- Releasing equity can have a MASSIVE tax saving.
- You’ll never owe more than your home’s value.
- Fast, easy & secure. It takes 8 seconds.
- Completely, independent advice.
- FREE, no obligation consultation.
About the Providers We Compare
- Helped more than 1 million with equity release.
- Organised over 1 in 3 plans approved by the Equity Release Council.
Did You Know? Every 12 minutes a homeowner over 55 in the UK unlocks £91,667 tax-exempt cash.
John Lawson
Last updated 10 September 2019
Our Most Commonly Asked Questions
A buy to let mortgage could be a great way to help you enjoy your later life to the full.
By borrowing a tax-exempt lump sum you could be able to fund home renovations, help younger family members get on the property ladder, or simply keep your lifestyle in retirement.
How much you can borrow depends on a number of factors, including your age, the type of property you own, and its value.
Use our free buy to let mortgage calculator to find out how much equity you could release.
Discover what is an equity release?
When comparing the buy to let mortgage market, a specialist adviser will explain:
- You have to get advice before releasing equity.
- Check for plans that have a no negative equity guarantee, so you’ll never owe more than your home’s value.
- It reduces the value of your estate.
- The initial consultation is free with no obligation.
- The most popular form of equity release is a lifetime mortgage, which is a loan secured against your home. Note that you will still own your home.
If you’re looking for a specific equity release calculator provider have a look at the best equity release companies or meet an adviser in any of these locations.
A buy to let mortgage is a way of releasing the wealth (cash) tied up in your property without the need to move.
With buy to let mortgage products, if you are over the age of 55, you can either borrow against the value of your home or sell all or part of it for a regular monthly income, a lump sum, or the facility to get at equity as and when you like or a combination of these options.
Use our free equity release loan calculator to see how much you can release now.
Although there are many different plans available, they can all be split into four categories of equity release schemes.
Lifetime Mortgage Loan
You release a lump sum from the value of your property, by taking out a mortgage secured on your property (provided it is your primary residence) whilst retaining 100% ownership of your home. This amount, plus any interest accrued, (you can opt to make repayments) is repaid from the sale of your property when you pass away or move into age care.
Drawdown Lifetime Mortgage
This works similar to Lifetime Mortgage but with a regular cash reserve/draw down options allowing you to withdraw amounts at a frequency you pick up to a specified amount of years, or until the cash reserve has been used up.
Interest-Only Lifetime Mortgage
You get a lump sum and pay a monthly interest on the loan, which can be fixed or variable, rather than allowing the interest to roll up. The amount you originally borrowed is normally repaid when your home is eventually sold.
Home Reversion Plan
Here, you sell some or all of your property to a home reversion provider in exchange for a lump sum of money or regular payments, whilst keeping the right to stay residing in your home, uncharged rent, while you live, but you have to agree to preserve and insure it. At the end of the plan your property is sold and the sale proceeds are shared according to the remaining proportions of ownership.
Not Looking For Equity Release?
Use our free lifetime mortgage calculator to see how much you can release now.
You can use the money on almost anything you like. There are many reasons for releasing equity from your home and here are just a few of them.
Common Equity Release Uses:
- To supplement your pension income to cover living expenses
- To settle a repayment mortgage or clear the balance on an interest-only mortgage
- To improve your lifestyle
- To see your family enjoy their inheritance while you’re still here
- To carry out some home improvements
- To take that holiday of a lifetime
- To help your children onto the property scale
- To pay off other outstanding debt and lower your monthly outgoings.
Use our free buy to let mortgage calculator to see how much you can release now.
Equity release plans are not right for everyone and it is important that you fully consider your options and receive independent financial advice before making a decision. It is also important that, if you do decide to use an equity release product, you choose one that meets your needs.
Remember that taking a buy to let mortgage plan is generally a long term options. However, there are flexible plans available that may fit your varying needs and some will allow you to repay in the future without any penalties. A financial consultant can help you to choose the plan that is right for you.
Use our free buy to let mortgage calculator to see how much you can release now.
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