The use of an equity release calculator has grown significantly over recent years as more over 55’s conduct their own initial research into equity release. An equity release calculation will help understand the maximum release of equity permitted based on several factors including your age, property value and now with enhanced lifetime mortgages, your health is a factor to calculating the maximum equity release.
This lifetime mortgage calculator tool will provide a suite of results based on the different types of lifetime mortgage plans available. These will be the standard lifetime mortgage calculation,the enhanced lifetime mortgage & finally the interest only lifetime mortgage maximum equity release.
To be able to understand the implications of these results then you should obtain qualified independent lifetime mortgage advice, ideally in a face-to-face environment, preferably your home. Your lifetime mortgage adviser will double check your results & following an understanding of your requirements, can then present what they feel is best advice and the recommended lifetime mortgage plan for your personal requirements.