Home Reversion Plan Calculator (Jan 2022)
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How Much Cash Can You Release With a Home Reversion?
Use Our Home Reversion Calculator To Compare The Market to Find Out How Much Cash Can Be Released From Your House. Find the Lowest Home Reversion Rate Here...
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What's a Home Reversion Calculator?
Discover how much equity you can unlock in Jan 2022 in just 8 seconds with our home reversion plan calculator!
You’ll need to provide:
• An estimated value of your estate
• Your age
• Your phone number
• Your email address
Along with getting your estimate emailed to you, you’ll also get an obligation-free call from an adviser from Age Partnership, one of the leading home reversion scheme providers in the UK.
That’s right! A FREE equity release calculation and free advice. That’s what we’re here for.
What’s a Home Reversion Plan?
A home reversion plan is a mortgage for older homeowners that gives you the opportunity to sell a portion of your property to a lender, below market value, in exchange for tax-free cash. In addition, you can remain living on the property until you pass away or enter long-term care.
Find Out More: What’s a Home Reversion Scheme?
Are Home Reversion Plans Regulated?
How to Use the Home Reversion Calculator
How do you use a home reversion scheme calculator? You’ll provide the age of the youngest applicant, your property value, and a few additional details. You just need 8 seconds and you’ll receive the results via email.
To use a home reversion calculator, you will require you to input:
These are the criteria that most home reversion scheme providers use when figuring out the amount you can release.
Have You Got Questions? Check These Out First
How Do You Calculate A Home Reversion?
When calculating the amount you can get from the home reversion scheme, you need to use the equity release calculator which requires you to:
- Input the age of the youngest homeowner (which is, 60 years)
- Input your gender and marital status
- Input your residence’s location
- Input the estimated value of your estate
- Input the proportion of your property that you’d like to sell to the equity release provider
How Do Home Reversion Plans Work?
Well, they work by you selling a part or your entire estate to the home reversion companies. The scheme is accessible to homeowners aged 60 and above, those with estates worth more than £70,000 and within the remits of the UK.
Unlike with the lifetime mortgage plan, you don’t pay any interests. However, when you pass away or move into residential care, the plan provider will sell your home, take his/her proceeds (percentage of ownership) and the remaining balance will go to your beneficiaries.
What Are Home Reversion Schemes?
It’s an equity release plan option. It allows homeowners aged 60, those with estates worth more than £70,000 and those within the remits of the UK, to unlock the capital tied up in their homes. Unlike the lifetime mortgage, the home reversion plan allows you to sell a part or all of your estate to your plan provider.
When you die or get into residential care, the equity release provider puts up your residence for sale, takes his/her of the proceeds and then the equity remaining goes to your heirs.
How Do You Use the Capital from the Home Reversion Plan?
You can use the cash you get from the home reversion scheme to:
- To work on your home improvement projects
- To pay for the long-term care expenses
- To clear any impending debts
- To pay for your long-awaited vacation dreams
- To make an investment
- To purchase mobility equipment
- To buy out your spouse
A home reversion scheme is a fantastic way to unlock the cash tied into your home, however, like with all later-life mortgages, you must tread carefully.
Once you’ve calculated how much you could be eligible to unlock through a home reversion scheme, get in touch with a financial adviser who’ll guide you further through the process.
Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations.
How Much Can You Release?
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Do you already have a plan?
Most people are using equity release as a means of retaining the use of their house while also obtaining a lump sum or a steady stream of income. Get matched with an expert and check your eligibility for equity release options.
Use our free equity release calculator & see how much you can release today.