How much can I release?

The principal factor for all lenders is the age of the borrower or the youngest age if you are partners. Typically providers start lending to clients aged 60 or over although it is possible to obtain equity releases for clients as young as 55. In practice the younger you are the lower the percentage of the home’s value will be provided.

Example 1

Joe is 65 and single. He wishes to equity release via a Lifetime Mortgage the maximum amount from the value of his home which is worth £200,000. Rates vary from provider to provider but it is possible for Joe to release 30% of the value of his home - £60,000. Joe should speak with equity release advisors for a clearer idea of risks and benefits.

Example 2

Max and Maxine age 65 and 60 respectively are married and own their home jointly. They too wish to use a Lifetime Mortgage to release the maximum from their home which is worth £98,000. Here it could be possible to release 25% of the value of the home which equates to £24,500.

Example 3

Frank is age 70. He is single with no family and wishes to release 100% via a Home Reversion scheme. His home is worth £175,000 and a typical Home Reversion provider may release up to 50.21% of the value which equates to £87,874.

The above are examples. To find out exactly what you may release either by Lifetime Mortgage or Home Reversion scheme please contact us as independent equity release advisors.

Call us on 0845 013 4561 or email us at john.land@honnisterpartners.com

Telephone

07860 374 526

Address

Altitude 4
Airport West
Lancaster Way
Yeadon
Leeds
LS17 7ZA

Email

john.land@honnisterpartners.com

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Equity Release Consultants is a trading name of Honister Partners Ltd. Honister Partners Ltd is an appointed representative of Sage Financial Services Ltd which is authorised and regulated by the Financial Services Authority. Sage Financial Services Ltd is entered on the FSA register (www.fsa.gov.uk/register) under reference 150452. Honister Partners Ltd Registered Office: 1 Nicholas Road, London, W11 4AN. Registered in England and Wales No. 06923303. The information and content of this site is directed at UK consumers only & is subject to the UK regulatory regime.