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Equity Release

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Use the FREE Holiday/Second Home Calculator

See how much cash you can get from your home.​

Equity Release Calculator

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Did You Know? Every 12 minutes a homeowner over 55 in the UK unlocks £91,667 tax-free cash.

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John Lawson
John Lawson
Last Updated: 25 Sep 2020
(Rated from 387 reviews)

Most of us dream of owning a home. However, with the current financial slump, and with estate prices on the rise, having a home of your own is like trying to spell ‘pochemuchka’ in a two-second spelling bee competition.

If you, however, own a second home, you’re one of the luckiest human beings on earth. What’s more, you can take out an equity release1 plan on the house and get some extra finances to help you pay for that long-awaited vacation to Kuala Lumpur or fund that home improvement project.

The lifetime mortgage plan is designed to help holiday home proprietors access the equity locked up in their second home. So, if you’re a homeowner and are reluctant about taking a mortgage scheme on your primary residence, then you might want to consider taking the equity release plan on your second home2, instead.

As with any other lifetime mortgage option, the cash you release from your holiday home is tax-free, and you have the freedom to spend the capital as you wish. You also pay the loan when you die or move into residential care.

While the range of loan policies for the second and holiday homes isn’t extensive as it is for those who are looking to unlock the equity tied up in their primary residences, there are still numerous options to help you meet your needs and dreams.

However, if you want to secure an inheritance for your family, this mortgage scheme would be the ideal option since it doesn’t affect your principal residence. So, to see the amount of capital you’d get from this mortgage plan, here’s a detailed guide on how to use the second home calculator.

Our Most Commonly Asked Questions

What’s the Second Home/Holiday Home Lifetime Mortgage?
How Much Can One Borrow from the Second Home Mortgage Plan?
Why Do People Take Out a Second Home Mortgage Scheme?
How Do You Calculate the Amount You Can Get from the Second Home Mortgage Plan?
How Do You Use the Holiday Home Equity Release or Second Home Calculator​?

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SovereignBoss.co.uk is a marketplace connecting people with mortgage firms. Accordingly, SovereignBoss.co.uk does not provide quotes or sell products directly to consumers and is not a licensed agent or broker.

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