Monthly Income Calculator (Oct 2021)
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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.
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I think you’ll agree with me when I say:
It’s REALLY hard to choose the best monthly income calculator with all the choices available.
Or is it?
Is our free Oct 2021 equity release calculator the best?
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.
Did You Know? A homeowner over 55 unlocks £91,667 tax-free cash every 12 minutes in the UK.
Our Most Commonly Asked Questions
How Do You Use the Monthly Income Calculator?
You use the monthly income calculator by filling in your details. The process takes 8 seconds, and we’ll email you the final results.
What's the Monthly Income Calculator?
A monthly income calculator is used to give you an estimate on how much monthly income you can unlock through this type of equity release product.
It’s a very safe option if you choose to take out an income lifetime mortgage in Oct 2021. 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.
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.
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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.