How much equity can I release from my home?
Equity release can be a useful way to fund retirement, pay off debt, support your family or make improvements to your home.
If you're a homeowner aged 55 or over, you may be able to release between 23% and 50% of the value of your home using equity release.
What factors impact how much equity I can release?
There are three main factors that determine how much equity you can release from your home.
Lenders will also look at other factors when deciding how much equity you can release, including the type of property, its condition and its location.
If you want to find out more about how much money you could unlock from your home, our friendly advisers will be able to talk you through your options.
You can have an initial chat with us for free - no obligation. Call us on 0800 144 8244*, or if you'd prefer, request a call back and we'll call you back within 30 minutes.
What is the maximum amount of equity you can release from a property?
The maximum amount of equity you can release from a property depends on a number of factors including your age and various aspects of the property.
Below is an example to demonstrate how your age and the value of your property affect how much equity you can release with a lifetime mortgage. These figures are provided for illustration purposes only.
| Your age | ||||
|---|---|---|---|---|
| The value of your home | 55 | 65 | 75 | 85 |
| £100,000 | £23,950 | £36,550 | £47,650 | £52,015 |
| £200,000 | £47,900 | £73,100 | £95,300 | £101,000 |
| £300,000 | £71,850 | £109,650 | £142,950 | £151,500 |
| £400,000 | £95,800 | £146,200 | £190,600 | £202,000 |
| £500,000 | £119,750 | £182,750 | £238,250 | £252,500 |
These figures are provided to illustrate the relationship between age and the amount of equity you can release from your home. They are based on the maximum loan-to-values available on AIR sourcing on 11/03/2024. They are subject to criteria and underwriting. Additional amounts may be available via enhancements such as cashback or medical underwriting. If you are interested in equity release you should seek a personalised illustration from a qualified equity release adviser.
What can you use equity release for?
As well as considering how much equity you could release from your home, it's important to have a clear idea about what you'll use it for.
Many people use the money they release to pay off debts, help a family member to buy a home or to fund home improvements.
It’s also worth considering alternatives to equity release to access funds, such as downsizing, remortgaging or using your existing savings and investments.
What is the best way to release equity from my home?
Equity release is a big decision, and you must seek professional advice before going ahead with it.
An equity release adviser will talk through your circumstances an financial goals and provide a recommendation for the best way to release equity from your home as well as exploring other options available to you.
Will there be any money left for my family?
Equity release can affect the value of your estate and the money you can pass on to your loved ones when you die.
Lifetime mortgages come with a No Negative Equity Guarantee that ensures you will never owe more than your home is worth, and some allow you to make repayments against the loan or its interest.
Find out more in our article Equity release, inheritance tax and your estate
Have a free chat today
Request a call back or call us on 0800 144 8244*
*Lines are open Monday to Friday 9am to 5.30pm and Saturday 10am to 2pm. Calls may be recorded and monitored for training purposes. Calls to freephone numbers are free from UK landlines and personal mobile phones. With business mobiles the cost will depend on your phone provider. If you'd like to know more, please ask your provider.
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Important: The loan amounts above are an illustration of the amount you could borrow. The actual amount may vary depending on your individual circumstances. The figures are not guaranteed and do not constitute an offer to lend. The loan amount will need to pay off any existing mortgage secured against the same property.
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