Equity Release Calculator
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Every 12 minutes a homeowner over 55 in the UK unlocks £91,667 tax-free cash?
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Our Most Commonly Asked Questions
Releasing equity could be a great way to help you live your later life to the full.
By borrowing a tax-free lump sum you could be able to fund improvements to your home, help younger family members get on the property ladder, or simply maintain your lifestyle in retirement.
How much you can borrow is based on a number of factors, including your age, the type of property you own, and its value.
Insert your information into our calculator to find out how much cash you could access.
Discover what is equity release?
What is It?
You are property rich but cash tight. You’ve benefitted over the years from the increasing property prices, but without cashflow, you are severely limited in what you can do.
You’ve got time to do the things you’ve also wanted to do, but you can’t, because all of your money is tied up in your property.
Imagine that you could do that renovation, get that perfect car or go on that dream holiday.
There is a way…
and still stay in your property.
It’s called equity release, and it’s booming in the UK.
You’ve seen it on the TV, heard about it on the radio, and you’re not the only one.
Every 12 minutes, someone over 55 in the UK is releasing cash from their property.
Let’s take a more in-depth look at what it is.
It’s a financial product that enables homeowners who are 55+ to unlock the value in their home by turning it into a lump sum or regular income.
Unlike traditional mortgages, with these schemes, you don’t have to make any monthly repayments, and they allow you to continue living in your residence until you pass away or move into permanent care. Only then is your plan customarily repaid from the sale proceeds of your home.
If you’re over the age of 55 and a homeowner, you’re almost certainly eligible. What you release isn’t taxable, and you have the financial freedom to use it on what you want – meaning you get to tour the world, give a living inheritance to your family and enjoy your golden years.
You’ve always waited for the moment to do what you want when you want. Now you can have the funds to do that. Is it safe though?
What are the Benefits?
It’s an ideal option for anyone looking to enhance their living standards after retirement, and here are some of the ins and outs.
1. It Offers You Financial Freedom
By taking out a scheme, you can choose to spend your money as you want. Whether you need to upgrade that kitchen, make home changes like adding new double glazing, loft & cavity wall insulation, a world tour, or to help your kids buy their first home, it’s all up to you.
What you receive is tax-free, and you can opt to take it as either a lump sum, as an income plan or in several smaller chunks (‘drawdown’) – thus giving you more flexibility.
2. It Does Not Require You to Downsize
You don’t get to experience the hassle, inconvenience, and expense of moving out of your treasured family home. It provides you the financial freedom you need but also the freedom of choice.
3. It Provides the ‘No Negative Guarantee’
It means that it protects you from having the debt due from being driven up by house price changes. Therefore, your beneficiaries cannot ever incur any debt over & above the market value once the mortgage holders die or move into permanent care.
What about the pitfalls?
What Can It be Used For?
You are free to use the money on almost anything you want. There are many reasons for releasing cash from your home and here are just a few of them.
- 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 standard of living
- To see your family enjoy their inheritance while you are still here
- Top up your income in retirement
- To take that holiday of a lifetime
- To help your children onto the property ladder
- To pay off other outstanding debt and lower your monthly outgoings.
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PS – If you’re anything like us, you just skipped to the end anyway.
So here’s the scoop – we are offering to get you the best quote for releasing cash from the best companies.
John advises business, individuals, and organisations on pension planning. As you’ve probably realised by now, we’re invested in helping people like yourself understand a little bit more about how equity release options work.