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Calculators
Equity Release

Equity release calculator

Estimate how the balance of a lifetime mortgage could change over time and see the potential effect of interest, repayments and additional borrowing on the equity remaining in your home.

This calculator provides an illustration only. It does not show how much you are eligible to release or confirm that equity release is suitable for you.

Your details

This calculator illustrates a lifetime mortgage, not a home reversion plan. Enter the additional cash you would like after repaying any existing borrowing to see the total lifetime mortgage required and how its balance could change over time.

Providers normally use the youngest homeowner's age when assessing a joint application. Minimum ages and lending criteria vary. Age does not change this cost illustration.

Enter the age of the youngest person who would be included on the lifetime mortgage.

Enter a realistic estimate of the property's current market value. A provider would arrange or require its own valuation.

Enter what you think your property is currently worth.

Include the mortgage and any other borrowing secured against the property. Existing secured borrowing would normally need to be repaid when a lifetime mortgage completes.

Include any mortgage or other borrowing secured against your home that would need to be repaid. Enter £0 if none.

Enter the cash you would like after existing secured borrowing has been repaid. The result illustrates the total loan needed; it does not confirm that this amount is available.

Enter the additional amount you would like to take from your home.

Enter any advice, lender, valuation or legal fees that would be added to the lifetime mortgage. Leave this blank if fees would be paid separately or are not yet known.

Include any fees you want the illustration to add to the lifetime mortgage. Leave blank for £0.

Enter a rate from a personalised illustration or a rate you want to test. No typical rate is preselected, and the calculator assumes the entered rate remains unchanged.

Enter a rate to see how interest could build up over time. This is not a quote.

Enter a regular amount you want to test. Actual plans have their own repayment limits, conditions and possible early repayment charges.

Enter a regular amount you would like the illustration to deduct from the balance. Leave blank for £0.

Your results

Complete the fields and select Calculate illustration to see your equity release estimate.

Your next steps

Your illustration is a starting point. Understand how lifetime mortgages work, consider other later-life borrowing options and compare the potential cost of making regular mortgage repayments.

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Understand lifetime mortgages

Learn how a lifetime mortgage works, how interest can build up and what you should consider before releasing equity from your home.

Explore lifetime mortgages →
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Explore your later-life options

Equity release is not the only way to borrow in later life. Explore other mortgage options that may be available depending on your circumstances.

Explore later-life mortgages →
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Compare regular mortgage repayments

See what monthly repayments could look like on a mortgage where you make regular payments towards the amount borrowed.

Calculate repayments →

Want help understanding your options?

Equity release is a long-term commitment and may not be the right option for everyone. A specialist adviser can help you understand lifetime mortgages, consider alternatives and assess what could be suitable for your circumstances.

Speak to an equity release adviser

Your questions answered

This calculator provides an illustration of a lifetime mortgage based on the information you enter.

It shows the total lifetime mortgage illustrated, starting loan-to-value (LTV) and how the loan balance, interest charged and property equity could change over time.

It does not confirm whether you are eligible for equity release or how much a provider may be willing to lend.

 

The calculator starts with any existing mortgage or secured borrowing you want to repay, then adds the additional cash you would like to release and any fees you choose to add to the loan.

It then illustrates how the balance could change using the interest rate and regular monthly payment you enter.

The projections assume those inputs remain unchanged, so actual lifetime mortgage costs and balances could be different.

If interest is not fully paid as it is charged, it can be added to the mortgage balance and compound over time. This means future interest can be charged on both the amount originally borrowed and interest already added.

As a result, the amount owed can grow considerably over a long period if no or limited payments are made.

Some lifetime mortgages allow you to make payments that can reduce or limit the effect of interest being added to the loan.

The calculator lets you enter an illustrative monthly payment so you can see how it could affect the projected balance. Actual payment options, limits and conditions will depend on the lifetime mortgage product you choose.

A lifetime mortgage is generally repaid when the property is sold, typically after the last borrower dies or moves permanently into long-term care, subject to the terms of the plan.

If interest has been added to the loan, the balance may have grown by that point. This can reduce the amount of property equity left for your estate or beneficiaries.

Equity release is a long-term financial commitment, so it is important to consider both the immediate benefit and the potential future consequences.

Releasing equity could reduce the value of your estate, affect your entitlement to certain means-tested benefits and limit some future financial or housing options. Alternatives should also be considered before proceeding, and specialist equity release advice is required.

Important information

These results are estimates for general information only and do not constitute personal financial advice, a recommendation or a mortgage offer.

The calculator illustrates the potential cost of a lifetime mortgage. It does not assess eligibility or determine how much a provider may be prepared to lend.

Interest is illustrated as compounding over time using the rate entered. Any regular monthly payment entered is used to illustrate how payments could affect the balance. Actual interest rates, payment options, fees, charges and product terms will depend on the lifetime mortgage chosen.

A lifetime mortgage is generally repaid when the last borrower dies, moves permanently into long-term care or the property is sold, subject to the terms of the plan.

Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits. It can also affect your future options, so alternatives should be considered before proceeding.

Some lifetime mortgages include a no-negative-equity guarantee, but the conditions depend on the product and provider.

A lifetime mortgage is secured against your home.