How much can I release from my home?
Equity release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments.
There are two types of equity release; Lifetime Mortgages and Home Reversion plans. Both of these are regulated by the Financial Conduct Authority. By using an equity release product, a home owner can draw a lump sum or regular smaller sums from the value of their home, while remaining in their home.
Equity release can play a crucial role in retirement funding and the flexibility and safeguards which are built into plans that complies with the Equity Release Council product standards enable thousands of home owners every year to tap safely in to their housing wealth without having to worry about making monthly repayments.
To use the calculator follow these simple steps
- Add the age of the youngest applicant (must be minimum 55yrs)
- Add the value of your property
- Indicate your property location
This information does not contain all of the details you need to choose a mortgage, product or service. Please be sure that you read the separate key facts illustration before you make a final decision. The information provided by the calculator does not constitute a formal mortgage offer.
Prospect Mortgage Services Ltd are authorised and regulated by the Financial Conduct Authority 647962.
Registered Office Address: The Old Piggery | Cheeks Farm | Merstone Lane | Merstone | Isle of Wight PO30 3DE
Your home may be repossessed if you cannot keep up with mortgage repayments or other loans secured on your property.