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Use the FREE Monthly Income 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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Are you considering equity release as a way to get some extra cash? We're telling you everything you need to know about the monthly income calculator so that you can determine what amount you'll be able to loan.

Have you been having migraines thinking of ways to supplement your meagre income? Did you retire but aren’t confident about your pension fund1 (you probably didn’t save up enough)?

Well, worry no more because, with the income lifetime mortgage, you can get that extra capital you need to help you fund the home improvement project, buy out your spouse after the nasty divorce you’ve had or even pay off the stacked up bills that have been staring at you.

The income lifetime mortgage is typically a lifetime mortgage plan that allows homeowners aged 55 to receive a monthly income from the capital tied up in their estates. Unlike with most equity release mortgages2, the income lifetime mortgage enables you to borrow lump sums3 of cash.

Moreover, the income mortgage schemes enable you to draw a fixed income from your estate’s market value over various periods. You either choose to get the tax-free cash over 10, 15, 20 or 25 years.

If you don’t necessarily require a considerable amount of capital to pay off your mortgage or pay for that ticket to Maui, and would prefer the security of having monthly income paid into your bank, then an income lifetime mortgage is your best option.

So, how does one figure out the amount they can get from an income mortgage plan? Well, you can do so by using the monthly income calculator and here’s a comprehensive guide on it.

Our Most Commonly Asked Questions

What’s the Income Lifetime Mortgage?
How Much Do You Qualify for with the Income Mortgage Calculator?
How Does the Income Lifetime Mortgage Work?
How Do You Qualify for the Monthly Income Mortgage Plan?
How Do You Use the Monthly Income Calculator?

In Conclusion

It’s a very safe option if you choose to take out an income lifetime mortgage nowadays. And it’s the easiest thing ever to calculate how much extra cash you qualify for by using this monthly income calculator! For any further question, feel free to contact us directly.

In this Article

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.

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