Use the FREE Interest-Only Equity Release Calculator
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.
Use the FREE Interest-Only Equity Release Calculator
See how much cash you can get from your home.
Did You Know? Every 12 minutes a homeowner over 55 in the UK unlocks £91,667 tax-free cash.
Equity Release > Calculators > Interest-Only Equity Release
Interest-Only Equity Release Calculator
How Much Money Can I Get? Calculate It Now!

With the current economic state worldwide and locally, it never hurts to have extra cash in your pocket. That's why equity release has become so popular in the UK! You can now get extra cash by releasing it from your property! How much money? We're here to tell you all about it!
With the current economic recession, having some extra cash is vital to your livelihood. Thanks to equity release1, you can get capital to help you pay off your pre-existing mortgage, pay for your long-term care and even fund your vacation to Brazil.
However, with heirs, it’s crucial to have a reliable plan that can allow you to leave some cash for your family when you pass on. Well, with the interest-only2 mortgage, you can do this since it enables you to make regular interest payments on the capital you release. It typically allows you to level your equity release loan balance throughout. Therefore, provided that you keep making those payments, when the loan policy ends, you’ll only have to repay the initial amount you released.
So, how can you figure out the amount you can get from the interest-only mortgage? Well, you can do so by using the interest-only calculators and here’s a comprehensive guide on how to use the interest-only mortgage calculator.
Our Most Commonly Asked Questions
The enhanced lifetime mortgage or impaired lifetime mortgage plan offers you a considerable amount of cash or lower interest rates than the standard mortgages. The mortgage plan is a lifetime mortgage option that gives you capital from the equity tied up in your home. It’s designed for homeowners aged 55 and above.
You also have to own a home within the remits of the UK and with houses worth more than £70,000. Unlike other lifetime mortgage schemes, the enhanced mortgage allows you to access more cash if you have a poor health record.
You qualify for the enhanced/ill-health lifetime mortgage plan if you have any pre-existing health conditions, are 55 years and above and a homeowner with an estate worth more than 70,000 and in the UK. The mortgage scheme works on the underwriting principle that your life expectancy is likely to be lowered if you have experienced ill-health. Some of the ‘accepted’ medical conditions are:
- Diabetes
- Parkinson’s Disease
- High Blood Pressure
- Medical complications like angina, heart attacks, among others
- If you’re a cigarette or a rolled tobacco smoker
Well, like most lifetime mortgage calculators, you can use the enhanced mortgage calculators to figure the amount you can get. You can do this by inputting:
- Inputting the value of your residence – which has to be in the UK and at least £70,000
- Inputting the age of the youngest homeowner – which according to the Equity Release Council5 (ERC) has to be aged 55 years
- Inputting your postcode – to help the lender figure out where you live
You’ll have to fill in the health and lifestyle questionnaire which will contain direct questions. It’ll help the lender determine the amount of cash you qualify for.
Well, several firms offer you an enhanced or ill-health lifetime mortgage. These include companies like:
- Aviva
- More2Life
- Just Retirement
To determine the amount of cash you’d get from the interest-only mortgage, you have to use the interest-only calculator. So, you have to input:
- The value of your residence – which must be in the UK and worth more than £70,000
- The age of the youngest applicant – which should be at least 55, according to the Equity Release Council
- Your postcode – to determine where you reside
These are the criteria that most mortgage providers use when figuring out how much equity you can borrow.
Therefore, don’t worry about the amount you’ll leave your family after taking out an equity release plan. With the interest-only mortgages, you can pay up the interest monthly, get to fund those kitchen renovation plans and still ensure that your heirs get a substantial amount of cash after the loan is repaid. Isn’t it the best mortgage option?
In Conclusion
It’s relatively easy to determine what amount you can get when you take out an interest only mortgage through an equity release provider. You simply need to input a few details, and there you have it! If you’re still considering whether or not interest-only mortgages are for you, feel free to contact us with any further questions.
How Much Can You Release?
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.
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.