All posts in Equity Release

An equity release scheme can be a great way to experience some financial freedom if you are a homeowner over the age of 55. There are a few different options available to you and with proper guidance, you can find a plan that works for your individual situation.

Equity release allows you to release your property’s value and receive it as either a one-time cash payment or a source of more regular income. There are several plan options available, but most do not require that you make any repayments against your loan balance. In every case, you are able to stay living in your home until its final sale, which typically takes place either when the last remaining homeowner moves into long term care or passes away.

The money that you receive from the equity in your home is tax-free and you can use it on whatever you’d like without restriction. Many homeowners choose to use the cash to live a more carefree lifestyle during their retirement while others choose to pay down debt or make improvements on their home. Many also choose to financially help their children or grandchildren.


There are many benefits to using an equity release scheme. To start, you can use the money however you want. It is simply yours to spend freely. It is also tax-free and you can receive it in a variety of different ways. Some plans offer a larger one-time cash payment while others provide you with a more regular income via several smaller payments.

Secondly, many homeowners find that they are forced to downsize their property in retirement. With equity release, you can avoid any kind of downsizing.

Thirdly, your family will not be held responsible if the sale of your home does not cover the outstanding balance on your equity release product. This is called a no-negative equity guarantee. This means that the amount you owe is not impacted by changes in home prices.

Equity Release Types

There are a two different types of equity release products, lifetime mortgages and home reversions. Home reversions were once quite popular but have quickly been overtaken in popularity by lifetime mortgages. Despite that fact, they still offer all of the same options that originally made them so popular. Lifetime mortgages offer several different plan types.

Lifetime Mortgage

Now the most popular form of equity release, lifetime mortgages are a loan you take against your property. You retain full ownership of your property and you do not have to make any monthly repayments against your balance, unless you choose a plan that allows you to do so.

There are many different types of lifetime mortgages available. That means that there are also many different options, some of which are listed here:

  • Preserve a part of your home for inheritance purposes by using what is called an Inheritance Protection Guarantee.
  • Make repayments against your loan balance, either regularly, monthly, or ad-hoc to help control your overall balance.
  • Benefit from future withdrawals by using a drawdown product
  • Take advantage of other unique features such as early repayment or downsizing protection

Home Reversion

Home reversions function quite differently from lifetime mortgages. With a home reversion, you do not take out a loan against your property. Instead, you sell off a percentage of it to your equity release provider. You receive a cash payment in exchange. That payment is often less than you would receive if you sold the home in a more traditional way, since you are able to stay living in the home for the rest of your life without paying any rent.

With home reversions, you are able to safeguard an inheritance for your loved ones. When your home is sold, the proceeds are divided according to the ownership percentages. So, if you sold off 25% of your home to the lender, your estate would receive 75% of the sale proceeds while the lender would get 25% of the proceeds.


Equity release products can seem confusing at first, but with the proper guidance and advice you can find a product that works for you. Reach out to our experts today to receive specialized advice as it relates to your particular circumstances.

Choosing to take advantage of an equity release product is no small decision. It does not only impact you but can have ramifications for your family as well, particularly as it relates to any potential inheritance.

As such, you want to make sure you are making the best decision for you and your loved ones. That means choosing an equity release adviser that will help you plan for your best interests. You want to be able to enjoy the cash you receive from your plan while also potentially making sure your loved ones still benefit as well. There are several considerations to keep in mind and it can be confusing to keep them all straight yourself. This is why working with a professional can keep you on track and can help you maintain your priorities.

We have a nationwide team of equity release advisers that will provide with you specialist advice so that you can make an educated decision as to what is right for you. We will also provide that advice through whatever medium is most convenient for you and your lifestyle. We are available to speak with you in-person, over the phone, through email, or even through our live chat option. We will work with you to ensure that you are comfortable with the process.

The equity release market is a busy one and we recognize that there are many advisers available to help you. However, you do not want to trust just anyone with your equity release needs. All of our advisers are FCA regulated and members of the equity release council. That means that we are knowledgeable about all plans and features available to you. In addition, we can help you with any potential concerns you might have, such as avoiding any impact on your means-tested benefits or trying to ensure you are able to leave behind an inheritance to your loved ones. Don’t trust just any advice. We can work with you to find the product that is the best fit for you.

Reach out to us today to discuss the options available to you.

You may very well know that you want to take advantage of an equity release scheme. There are plenty of benefits to releasing equity from your home. However, you cannot possibly know if it will work for you unless you know how much cash you can receive. You likely have plans for the cash you’d receive, which is why you know you want to tap into the equity in your home in the first place.

You might want to help you child buy their first home or pay for your grandchild’s first car. Maybe you just want to travel with your spouse and enjoy many of the things you couldn’t during your working years. If you know how much cash you’ll need to fulfill your financial needs or wants, then you need to know if an equity release scheme will provide you with that amount of cash.

This is where we can first start to assist you in your equity release choice. We have an array of equity release calculators that can help you get a better idea of how much cash you can receive. Our calculators are pretty accurate and the information you receive can give you a good footing in determining if equity release is right for you.

Not only can you get an idea of how much you can receive in general, but we have calculators that you can use to determine how much cash you can receive from different products. For example, if you think you might qualify for an enhanced equity release plan, you’ll want to try that calculator to see if the amount you could receive will satisfy your plans.

We need very basic information from you in order to give you your estimated release amounts. Simply give us your name and age, the estimated value of your property, and the amount of your mortgage that is still outstanding. With just that little bit of information, we can let you know what you could expect to receive in your cash payment.

Impaired Equity Release

With an impaired equity release plan, you may be able to release more cash or have a lower interest rate than with a standard lump sum plan. To determine your eligibility for this specific type of plan, you will need to complete a very straightforward questionnaire with your lender. There, you will highlight any conditions or lifestyle choices that may impact your life expectancy.

You may qualify if you smoke or take prescription drugs. You may also qualify if you have diabetes, Parkinson’s Disease, or Multiple Sclerosis. Finally, you may also benefit from an enhanced, or impaired equity release plan, if you have high blood pressure or have suffered from strokes, cancer, heart attacks or angina.

Specialized Advice

Determining how much equity you can release is just one step in the process. We can help you determine which plan is the best fit for your individual situation. Reach out to us today for specialized advice based on your needs.

If you are interested in an equity release scheme, you of course want to know if you qualify. You may also want to know if you qualify for an impaired equity release, which may have the benefit of a larger lump sum payment or lower interest rate.

In general, if you are older than 55 and own your own property in the UK, you may be eligible to take advantage of an equity release scheme. Of course, confirming eligibility is a bit more complicated than that.

Criteria for qualifying is usually divided into a few different categories, all used by lenders to determine if you are a good candidate for an equity release product. The qualifying criteria includes the home’s location, the property value and condition, the age of the homeowners, the amount of the loan, and overall credit history.


In order to qualify, your home must be located somewhere in the UK. There are some further restrictions that must be followed by certain lenders, as well. For instance, if you live in Northern Ireland, you would have just two options when it comes to lenders.

Property Value and Condition

Your property must have a minimum valuation of £70,000 in order to qualify for any equity release plans. For the most part, there aren’t any maximum limits imposed but that can depend on the lender.

The condition of your home will also be taken into account. It must be in good condition overall and it must be well maintained. A home that is in poor condition or that has not been well cared for can get declined by many lenders.

Homeowners’ Age

You have to be at least 55 years old to take out an equity release plan. That is the minimum, but many lenders require a higher age, usually 60. It is the age of the youngest homeowner that is taken into account when determining eligibility.

Loan Amount

You must take at least £10,000 with any plan, but some lenders require a higher loan amount. The maximum that you are allowed to borrow will depend on a few different factors including the value of the property, your age, and your overall health. In general, the older the homeowner, the more than can be borrowed.

Credit History

There are no repayments required with equity release products. So, the criterion is a bit more laid back than you would find with products that do require repayments. Many lenders do not do a credit check at all, but that differs by lender.

Impaired Equity Release

There are further requirements you need to meet to qualify for an impaired equity release product. You must have a qualifying health or lifestyle condition. Qualifying conditions are those that typically cause a shortened life expectancy, such as smoking, high blood pressure, diabetes, or Parkinson’s Disease. You may also qualify based on your body mass index, the fact that you take prescription drugs, or if you had to retire early due to poor health.

With an impaired equity release plan, you may be able to receive a larger cash payment or benefit from a lower interest rate.

Aviva is one equity release company providing retired or near retirement homeowners a chance to improve their cash poor situation. If you have entered retirement and find you are spending your retirement pension too fast there are only a couple of things you can do. You can adjust your lifestyle, downsize, or find a way to supplement your income. Equity release products such as the Aviva Lump Sum Max plan is a lifetime mortgage. To find out how this product can help you there are necessary tools like the Aviva equity release calculator available to you.

How Aviva Works
Aviva provides certain products for individuals over the age of 55. However, their products are announced on sites like Equity Release Supermarket and through a brokerage firm. If you go directly to their website, select the product shown, you will be sent to a brokerage firm that is not independent. They do not offer independent equity release advice. It is an agreement they have made with Aviva. It also means the product mentioned on Aviva’s website and through this tied sales team is not as competitive as Aviva products you can find on Equity Release Supermarket. You can use the safety net of a company you recognise and trust by choosing Aviva, but you do need to be aware the product may be a poorer deal for your beneficiaries on the long term.

Lifetime Mortgages
Lifetime mortgages are a loan for retired individuals because you make no payment towards the principle amount. There are only a few products which are interest only, where you do make an interest payment each month, but the product is not repaid in full until the end of your life. The Max Lump Sum plan from Aviva is a straightforward lifetime mortgage in that you make no repayments and pay no interest until the end. When you die or need long term care your loan will need to be repaid, often through the sale of your home. This is where it can become difficult for your beneficiaries. The sale of the home has to cover the capital sum plus any interest that has accrued. The more interest that accrues the less that is left over.

When you have a non-competitive product this means the interest rate is not in line with other equity release products. It could be significantly higher than competitive products found through independent brokers.

Independent Brokers
An independent broker is going to look for the best product for you. They will find the lowest interest rate for the maximum amount of value possible. You get to decide the best deal. Sometimes you may have to go for a higher interest rate to unlock the maximum amount you need.

An equity release calculator can be used to determine the maximum amount to be released such as 30% at age 65 versus 40% at 75. You can change items in the calculator to fit the competitive products on the market; however, Aviva equity release calculator does not allow for this. The Aviva tool is specific to the Aviva Lump Sum Max Plan. It will not provide results for any other plan even other Aviva products sold on independent sites. It limits your knowledge of available options. An independent calculator would not do this.

The Products on the Market
Aviva, Pure Retirement, and Just Retirement offer some of the equity release lifetime mortgage products on the market right now. At age 65 all offer 30% of the home value in a loan to value percentage based on age and home value. The percentage allows for the accrual of interest while keeping the loan low enough that it should not hit negative equity.

The older you are the more you can release which is why at age 75 you could get 41% from Aviva and 42% from Pure Retirement. Pure Retirement also offers free valuation, the larger cash back option, and no application fee if the loan is for more than £45,000.

Overall, you want to make certain you are working with an independent tool to get the best information possible. It may turn out for your needs and situation Aviva is the perfect company to go with through the brokerage firm. On the other hand you may find the Aviva equity release calculator results are not apropos for your situation and thus you need to shop around more. Using independent tools you can save time in your research.

Searching for an equity release calculator for the under 55s is unfortunately not going to produce the results you hope for. Yet, many people do conduct a search online for this tool, which is one reason many websites and articles use the keyword to get your attention. There are some important facts you need to understand about equity release for retirees. The first is that equity release (ER) is for individuals over 55. Since it is a minimum age, there is not going to be a calculator that provides a calculation for an individual who is younger than this. One of the reasons the phrase is still used and targeted is because of planning.

People who want to plan for their retirement can find the calculator useful as they plan for their retirement day. The calculator can certainly provide some details that will help with the planning.

What ER Calculators Provide
As an equity release calculator for the under 55s does not exist, you will need to use a standard equity release mortgage calculator. It can still provide you with helpful information. You can also look for such options as the impaired equity release calculator that provides results for potential ill health issues. Impaired health allows you to gain a larger lump sum of tax-free cash than a healthier retiree. Of course, if you do not need a bigger sum of cash, it is best to stick with the standard ER. You also have calculators specifically for interest only lifetime mortgage products and home reversion.

An interest only lifetime mortgage provides you with a capital lump sum where you pay interest off each month to keep that sum the same throughout the life of the loan. Every lifetime mortgage will have interest and the entire amount is due at death or a move to a long term care facility. Basically, when you move from your home you need to pay it back. With interest only it is more affordable and leaves an inheritance behind if you pay off the interest, versus a loan that accrues until death, leaving a large sum to be repaid.

With appreciation and depreciation a home value can change and wipe out any inheritance if you have interest adding to the loan too.

Home reversion is different because it is a sale of all or part of your home. With the sale you still live rent free under a lifetime tenancy agreement, you can stay until death or until you decide to move to long term care, and only at the end is the rest of the house sold to the buyer. Any home left to sell is converted to cash for your beneficiaries. Buyers are investing in the appreciation of the home as a way to make their money.

ER calculators will be able to provide you with a potential maximum amount you can be lent, along with figures for what you may owe in the end. This gives you an idea of whether the option is affordable for you or not.

Possible Products
The market is flooded with products as more people begin to retire. Also changes to the regulations of these loans have meant a change in availability of certain products. The calculator uses the age of the person, plus the home value, to determine the maximum amount allowable. A loan to value percentage is the maximum amount for a specific age a person can obtain.

For example, Aviva is offering a product to 55 year olds where you receive 20.5% of your home value in an ER loan. Stonehaven’s Interest Select Max (interest only loan) provides 19% of the home value.

The older you are the higher your loan to value ratio will be on the assumption the loan will not be outstanding for as long. Thus, someone 65 years of age from Aviva can receive 30% of the home value in an ER. The Stonehaven ISM plan offers 29%. If you go with Aviva and are 65 years of age with a home value of £100K you would receive £30,000 in a maximum amount.

You should be aware that not all providers offer 55 year olds ERs. For example Just Retirement, LV=, New Life, and Pure Retirement require you to be 60 years old at least. This will change the calculations you receive from the ER calculator. As no equity release calculator for under 55s exists, just make certain you use an independent calculator that can provide accurate results for your situation.

There are a lot of pensioners who are suffering from mortgage debt and some of them are still making monthly repayments, even when their sole income is coming from their state pension. The Financial Services Authority, now the Financial Conduct Authority, has recently been highlighting the number of people who are planning to retire and still have some mortgage to pay. Some of these retired homeowners may have suffered from the failure of an investment such as an endowment, which is their way of paying for the loan. There is a solution in a remortgage equity release plan.

Answering the Question
The question for all these people left in the lurch is how they can get themselves out of the hole they may have dug for themselves. One such answer could lay in the use of equity release schemes in order to repay the mortgage debt, thus removing the future worry about struggling to meet the unaffordable mortgage payments.

Likewise, pensioners who have previously taken out an equity release mortgage from their home in the past can now take advantage of a remortgage equity release plan. Many people have experienced a remortgage of some form in the past and the reasons behind this course of action may have been many. One of the main reasons could be due to interest rates falling since the original equity release plan was taken out. By switching equity release schemes can therefore make savings of £1000’s in the long term. In 2004, the fixed rate for an equity release was around 8%; however, companies such as Equity Release Supermarket can today show rates starting from 5.57% annual.

Getting Proper Advice
To remortgage an equity release scheme is a very important decision that you have to make. In order to help in understanding more about this scheme then you can read some guides on the internet or you can hire the services of an independent equity release adviser. These guides will clearly explain how equity release really works.

Lifetime Mortgage Commitment
When you are taking on a lifetime mortgage commitments then you don’t have to make any repayments. Instead you will be charged with interest until such time that you die and the total amount which comprises the released money and the interest will simply be deducted from the value of your estate.

Please note there are different lifetime mortgages that can be used to remortgage a current loan. You have interest only products as stated above in that the interest is paid throughout your life. You also have a lump sum. This product offers you a lump sum of cash, but the interest is added to the principle sum and both are due at the end of your mortgage. For many this works out better since they will not need to have a payment each month.

Another choice is drawdown lifetime mortgage, but this only works if the remortgage need is very small. This is due to the mortgage offering a small lump sum in the beginning and then money to take as you need it. For some it could work, but be sure that you will not be in a more difficult position later.

Home Reversion versus Remortgage
In other types of equity release such as the home reversion method, part of your home will be sold to the reversion company and at the time of your death, they will at that point, claim their share. It is very important for people to consider remortgaging since their changes may have changed since the original plan was taken out. Health and family are factors that cannot ever be guaranteed and could therefore influence your future decisions and this render the original plan inappropriate or uncompetitive.

Talk with Family
You already know you need to speak with an adviser who can help you plan correctly. You should also make sure your family is part of the decision. It is your family’s inheritance that you are playing with when you take out new financial products. If you want to leave something behind they should at least be aware of what will occur with the family home. You can definitely leave inheritance depending on the product of choice. They can also be a second pair of eyes to help you read the fine print.

Before making a decision to remortgage equity release schemes, you should compute everything in order to verify whether this option is financially viable. You should also consider potential repayment charges as well as the plan set up costs when making this important decision.

The primary definition of equity release can be explained as any loan that is taken against your home as security. While this is increasingly becoming a popular practice, it is always advisable to exercise caution while using this form of home equity loan as it may leave your beneficiaries with no inheritance if advised incorrectly. For example weigh your options for how to use your equity release for retirement such as being careful about how to use equity release for a holiday versus another purpose.

Ways to Use the Loan
Home equity loans are usually provided as an option to homeowners who want to use their property as collateral to get a lump sum of money against the value of their home. Since a home equity release lets the person have a set amount of money, most people who use this option generally use the money to pay off debts such as a mortgage, unsecured loans or overspending on credit cards.

Using equity release for debt consolidation can be considered to be a wise option as usually the interest rate on the equity release schemes are lower than the ridiculous interest penalties applied by the credit card companies, usually in excess of 20%. While many people use the equity release to pay off their debts, there are some who use equity release for a holiday too. Such people are looking for a lifestyle enhancement here. The opinion of these people is that when they have worked all their lives, they deserve a nice holiday with their loved ones to relax and recharge the batteries. These people take a release of equity in order to improve their lifestyle.

This has been the biggest growth area in the equity release marketplace as it is not a need fuelled by necessity, but one of aspiration. That one off luxury purchase is also something that most people look at using the equity release. This could be buying their dream car or going on an once-in-a-lifetime cruise which is becoming increasingly popular these days.

Another common use of equity release that is evident in today’s economic climate is to help the children. Parents usually opted for a home equity release to help their grandchildren with education or launch their career. Times have changed and rather than skipping a generation, the need has been driven back towards their children in helping them get onto the property ladder or keeping their business afloat.

Specifics of Equity Release Products
You know how you can use these products, but what is the process for attaining such a loan? How old do you need to be? Are there any disadvantages to these financial products?

These are questions that need answered if you want to obtain a product that works best for you. The first answer is that you need to find a mortgage company that deals in lifetime mortgages or equity releases for retirees. You can then look over their specific qualifications. One of these is being at least 55 years of age, where some companies may require you to be 65. As long as you are of age, you own your home or can use the lifetime mortgage to pay off the loan, and have good credit you can apply for this financial product.

Disadvantages to Lifetime Mortgages
The third question asked above needs its own heading. These are important notes to remember. First, if you use equity in your home by obtaining a loan you must repay the loan. The good news is the money is tax free and you do not owe a monthly payment. The interest can be paid in a monthly payment with an interest only lifetime mortgage, but otherwise the interest and principle balance is repaid upon death. It can also be repaid if you decide to sell the home and move to a new one or into a retirement community.

Depending on the amount you borrow you may reduce the size of inheritance or take it away completely.
A home equity release plan may seem to be an easy option but this money should be spent wisely. These forms of equity release mortgages which are arranged are usually advisable for retirees seeking for an easier and more comfortable retirement. There are several schemes that make equity release beneficial for people over the age of 55. This is the reason why pensioners are believed to be the biggest group of people who reap the benefits of home equity release plans even to use equity release for a holiday.

Are you ready for all the good things that equity release has in store for you? It’s no surprise that many people over the age of 55 are focusing on the advantages of equity release. By definition, equity release is simply converting all or some of the equity in your home into cold, hard cash. Plenty of companies offer you an option for gaining cash like Stonehaven.

Stonehaven is a company that offers equity release possibilities for people who are over the age of 55. Only over 55’s can tap into what equity release schemes have to offer. So consider yourself lucky if you fall into this age bracket today. Stonehaven is pioneering because for the last 6 years it has been offering people over the age of 55 the chance to release equity with their award winning equity release company with a wide range of different schemes.

Sample a little bit of what these plans have to offer you by looking below:

Interest only lifetime mortgage: Stonehaven offers interest only lifetime mortgages. These are mortgages that allow you to get a cash lump sum where you are only paying the interest back and not racking up any extra debt on your account. Hence, it is unlike a roll-up lifetime mortgage (see below). Consider an interest only lifetime mortgage if you want the amount you are paying every month to stay the same instead of going up and down depending on what is going on in current affairs.

Fixed Interest Rate for life: Stonehaven’s plans offer a rate which is fixed for the rest of your life, leaving you safe in the knowledge of exactly knowing your monthly repayments. This allows one to budget accordingly & plan how to spend the household surplus.

Roll-up equity release: This is the plan that has the quirky name. A roll-up equity release plan is essentially a way for the interest you have on your mortgage to be rolled up in your equity release and you pay it within the loan. The money that you get from the roll-up equity release is basically tax-free so you can use it any way that you want. What happens with roll-up equity release is it stays as a debt so when you die, your family will not be burdened with a massive cut from HM Revenue when it comes to inheritance tax.

As mentioned, Stonehaven is not the only company offering lifetime equity release mortgages. You may find that another option is more affordable or better suited to your needs. Before deciding on one company always do your research. This is one of the top tips we can offer along with a few others.

Products with Advantages and Disadvantages
Whether you decide to choose an equity release from Stonehaven or another company there are going to be advantages and disadvantages of equity release schemes. You will want to decide if you are able to live with these or if you feel it is just too much for a little money.

Living without money especially enough to cover your bills in retirement is often too hard. You worked your whole life for a chance to relax. Taking advantage of products on the market that can offer you help is a good thing as long as you can live with the end result. Sometimes in life your younger family members need to live just as hard, so they can enjoy retirement rather than getting a helping hand from inheritance. If it is a matter of living with enough money to enjoy life in the end, then the potential removal of cash for use may be your best option.

As you search around for the best solution to fit your needs remember that drawdown, enhanced and home reversion are three other types of equity release products available to you on the market. They may fit your needs better than those at Stonehaven or not. Discuss all of this with a financial adviser to truly understand the full weight of your options and repayment needs.

Top tip: Read up on all of the thresholds for inheritance tax so you know how roll up equity release plans from Stonehaven affect you and your family in case you die. If you give out cash that is tax free now in small lump sums to your family it is not subject to inheritance tax. This could be a better benefit in the end. Also look at the benefits of interest only lifetime mortgages.

With the people around the world still feeling the impact of the global crisis in the financial industry, many are trying to establish a financial solution to their current recession problems. These problems are not limited to the working age population as many older people have seen the real world value of their pension compromised by quantitative easing and inflation. Even those who have made adequate pension provisions may find that their pension falls short of meeting their needs. This is the main reason why equity release schemes have experienced a resurgence in popularity over the last few years.

What are Equity Release Schemes?

Equity release schemes are specially designed financial products for the over fifty-fives age group. They allow home owners aged between fifty-five and ninety-five to release the equity tied up in their home without the inconvenience and upset of moving home. The funds released are provided tax free and can be used for any purpose. Many people use equity release to supplement their pension income, make large purchases such as a holiday home or assist their children or grandchildren financially.

The global recession has made it very difficult for younger people to take their first steps on the property ladder, but with equity release, older relatives can leverage the equity in their home to finance a deposit for a first time buyer without placing their home at risk. This can be done because equity release schemes are intended as a lifetime mortgage or loan. The amount borrowed does not require monthly repayments as the interest is accrued and then compounded on the balance each year. The total loan balance is only due to be repaid when the home owner passes away or moves into a long term care facility. At this stage the property is sold, the balance of the loan settled and any remaining money from the sale is distributed to the beneficiaries of the estate.

How Much Can be Borrowed with Equity Release Schemes?

The amount of money which can be borrowed with equity release schemes depends on a number of factors. These include the age and gender of the applicant, the value of the property and the balance of any outstanding finance secured on the home. In some cases the health of the applicant is also considered. This is to assess how much equity is available in the home and if it meets the loan to value ratio specified by the lender. Additionally, the personal information is used to estimate the approximate lifespan of the applicant which would determine the duration of the loan.

Generally, applicants who are older will be able to release a greater percentage of equity compared to someone younger. However, women have a statistical likelihood of living longer than men, so their gender can affect the amount which can be borrowed. Additionally, some providers offer impaired life equity release schemes which consider those with an impaired life expectancy, for example someone with a terminal condition or long term illness. These cases will generally be offered a greater percentage of equity release based on the estimation that the lifetime mortgage will run for a shorter period of time.

The general rule of thumb for an equity release scheme is that you should be able to release thirty to fifty per cent of the value of your home. However, this is dependent on your circumstances and the type of property. There are a number of equity release calculators which are readily available online. These offer free and confidential examples of the amount of release which would be available in your specific circumstances. Many of these calculators will even allow you to compare the details of specific equity release schemes to determine which represents the best possible deal for your requirements and circumstances.

In order to obtain a full view of the equity release schemes which would be applicable for your circumstances, it is recommended that you utilise a number of different equity release calculators. This will provide a wider range of products to be assessed to increase your chances of finding the best possible deal. This will enable you to assess the maximum amount of release possible, compare interest rates and examine the financial implications of choosing a specific product.

If you are interested in exploring equity release schemes and are unsure if they would meet your requirements, an equity release calculator can provide a great starting point. However, before making any final decisions about the feasibility of specific equity release schemes, you should consult professional specialist advice. This will ensure that you are confident in your decision and assured of the best possible deal.