The number one question we hear from homeowners who want to take out an equity release scheme relates back to how much they’d be eligible to receive. After all, if you are in the market for a home reversion or lifetime mortgage product, it is likely because you want some extra cash during your retirement. That extra money can mean a lot of things. It could enable you to take a trip you’ve always wanted or buy a fancy car you’ve dreamed about having. It could also mean gifting your children or grandchildren with some needed cash while you are still around to watch them enjoy it.

It doesn’t matter what you plan to spend your cash on but rather that you need or want the cash in general. However, it is really crucial to know how much equity release you are eligible to receive in order to make sure it fulfills your financial obligations and plans.

It is quite easy for us to determine how much you could release from your home. Simply give us some basic details and we can give you an estimate that can help you with your planning. You can also use our free equity release calculator. Simply input some straightforward information like your age and the age of your spouse, if applicable, the value or your property and the amount outstanding on your mortgage.

 

How much should you borrow?

The calculator will give you a good idea of how much equity you can release but you also want to make sure you are taking advantage of the most appropriate equity release product for your individual needs and situation. You may even be eligible to receive more equity than you actually need to release. Speaking with an expert can help you decide just how much equity you should release.

While taking out as much equity as you can might sound enticing, releasing equity from your property can have an impact on how much inheritance you can leave behind to loved ones and it also has the potential to affect your means-tested benefits. We can work with you on releasing the right amount of equity to help mitigate any negative effects that money could create for you.

How we can help

We offer a free consultation with one of our trusted advisers to ensure you know the type of equity release plan that will benefit you most, and we are happy to talk through the amount of equity you could receive or the features of which you could take advantage. There are several plans available, all of which offer unique enhancements. Don’t get bogged down in the details when we can work with you on choosing the best option for you. Work with one of our experts to ensure you are choosing the right product and releasing the right amount of equity. Our phone number and email are below for your convenience. We would also be happy to talk with you via our live chat option.