Free equity release calculator - instant results

Use our free and instant equity release calculator to see how much tax-free cash you could unlock from your home on an equity release plan.  Simply enter the following details in the calculator below:

  • The current value of your home - which must be at least £70,000.
  • Your age – you will need to be aged 55 or over.
  • Your name
  • Your postcode and email address

It only takes a minute and you’re under no obligation to go further. 

June 2024: Interest rates from 5.59% MER fixed for life through Age Partnership when you use this calculator.

Why use this equity release calculator?

  • It's free to use and there is no obligation to go any further
  • It takes seconds to find out how much money you could release
  • There are no credit checks and your credit score will not be affected
  • Information is provided by award-winning specialist Age Partnership
  • If you decide to find out more, your initial consultation is free

How can our calculator get you a better equity release deal? 

While most equity release calculators work in a similar way, not all give you access to independent advice and exclusive equity release deals.

Our carefully chosen partner Age Partnership compares leading UK equity release providers to find you the best deal and the right plan for your unique circumstances.  

This lifetime mortgage calculator is intended to give you a sense of how much money you could unlock from your home. When you’re ready, specialist advisers will be on hand to give you a more accurate and personal illustration.

What is equity release?

Equity release enables you to access the cash tied up in the value of your home (the equity) tax-free, while continuing to live in it until you die or move permanently into long term care.

  • Lifetime mortgage – a loan secured on your home that doesn’t have to be repaid until you die or move into care. The loan is usually repaid from the sale proceeds of your home.
  • Home reversion plan – you sell all or part of your home to the equity release lender at below market value in exchange for a cash sum. You continue to live in your home as a tenant, rent-free.

How is equity release calculated? 

The equity release calculator takes the details you have provided; your home value, your age and gives you an idea of how much equity you may be able to release with a lifetime mortgage. The amount shown is only an indication of how much you could release.

Different repayment options for equity release

With a lifetime mortgage, you don't have to repay anything back until you die or move into long term care.  

At this point, the value of the loan plus the interest accrued will need to be repaid, typically from the proceeds of the sale of your home, although it doesn't have to be.

Most lifetime mortgages also give you the option to make voluntary regular or occasional repayments during the life of the mortgage without charge, to help reduce the amount of compound interest rolling up. 

You're also entitled to make partial repayments or pay off your lifetime mortgage sooner if you wish, however, you could incur an Early Repayment Charge (ERC). This charge varies by lender but could be significant, so check the terms and conditions carefully.

Are you eligible for equity release?

To be eligible for equity release you will need to;

  • Be at least 55 years old if you are looking for lifetime mortgage
  • Be at least 65 years old for a home reversion plan
  • Be a UK homeowner with a property worth £70,000 or more

Other factors that may affect whether you are eligible for equity release include:

  • The amount of your outstanding mortgage (if any)
  • Where in the UK the property is located and whether it is near a building or plant that could affect its value
  • The condition of the property
  • The construction of the property

For further details of whether you might be eligible for equity release see our equity release criteria page.

5 popular queries about equity release

Here’s a selection of five popular queries chosen from our most frequently asked questions page:

1) Will I pay tax on the money I release through an equity release loan?

No, you won’t. The cash you release is tax-free and all yours to use as you wish.

What you decide to do with the money might have tax implications though. For instance, if you invested the money until you needed it, rather than spending it, you might be liable for tax on the amount you put aside. For this reason, equity release is best regarded as a source of income or funding for particular purposes, rather than for saving.

2) Do I have to take all the money at once from my equity release loan?

With any equity release lifetime mortgage, you will receive a lump sum at the start of your plan. However, if you choose a drawdown lifetime mortgage you can choose to hold a proportion of the loan in reserve, to draw on as and when you like. In fact, these plans can often work out to be more cost-effective because, as you only pay interest on the cash you have withdrawn, the interest grows at a slower pace.

3) What happens to equity release when I die or go into care?

If you've taken out a joint equity release plan with your spouse or partner, the agreement will give each of you the right to continue living in your home until the second person dies or goes into care.

If the surviving partner wants to downsize, some lifetime mortgage lenders will allow them to pay off the loan without penalty, provided they do so with an agreed time period, which is usually three years.

4) Can I ringfence some equity to leave as an inheritance?

Any lifetime mortgage provided by an Equity Release Council member includes an Inheritance Protection Guarantee, which allows you to protect a percentage of the final sale value of your property to leave to loved ones as an inheritance.

5) Can I get equity release on my second home?

The answer is possibly. Some equity release providers will consider different property types such as a second home, as long as it is of standard construction and on the UK mainland. However, they will also want to know whether you let the property and, if so, for how many weeks per year.

The amount you can release from a second property is likely to be less than the amount you could release from your main home.

See more FAQs about equity release.

Next steps

Before you decide if equity release is the right route for you, make sure you consider the pros and cons of doing so, as well as any alternative options available to you.

For free advice on releasing equity from the UK’s leading specialist Age Partnership, call 0800 368 8466 now. 

For further helpful information on equity release, please view the following features:

Did you find this information helpful?

Please note

This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
You only continue to own your own home with a lifetime mortgage which is secured against your property
All deals subject to eligibilty.

And Age Partnership are the UK's No. 1 equity release adviser based on the volume of plans sold between 2018 to Q3 2020 Source Touchstone data.

We work with

Age Partnership

We are members of

Equity Release Council

Part of the Over50choices group

Over 50 Choices

How this site works

Our aim is to provide you with clear and accurate information to help you research your chosen financial products and services. The material on this site is for general information only and does not constitute any form of advice or recommendation.

If a link has an * by it, it means it is an affiliated link to an insurance company or broker that may result in a payment to the site. Should you use the equity release calculator, speak to an Age Partnership adviser and take out a plan out using their services, we receive a commission, however this will not affect the price you pay.

Also, from time to time you may see advertisements from third party companies who pay us a fee to advertise their services on our site.

None of the above arrangements constitute advice or recommendations, as other products and companies are available. You should always obtain independent, professional advice for your own situation.

The information provided on this site is accurate at the date of publication, occasionally however, things will change before we have had the opportunity to update them, so please do check. Always do your own research and take independent advice.

We do not investigate the solvency of any company mentioned on our website and are not responsible for the content on websites we link to.

Simply Equity Release is a member of the Equity Release Council and part of the Over50choices Group who is regulated by the FCA (No.5954280) for insurance products.