Equity release calculator

This calculator helps you see how much equity you could release with a lifetime mortgage, a loan secured against your home. We'll ask you to register your details to show you the calculation, then give you a call.

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I'm looking to release

This is a guide to the lifetime mortgage products we offer and not advice or a personal recommendation. You can only buy a lifetime mortgage through a financial adviser.

Interested in a lifetime mortgage?

A lifetime mortgage is a type of equity release. Find out more about whether you're eligible for a lifetime mortgage, and what sort of lifetime mortgages are available, below.

 

Is a lifetime mortgage right for you?

A lifetime mortgage is a loan secured on your home. To be eligible for a lifetime mortgage: 

  • You'll need to be age 55 or over.
  • You'll need to be living in (or buying) your own home with either a small or no mortgage.
  • Your home must be worth at least £100,000.

If you'd like to discuss whether a lifetime mortgage is right for you, call one of our specialists on 0808 301 70440808 301 7044. We'll be happy to help with any questions you might have.

Speak to a lifetime mortgage specialist

Things to consider

  • Interest is charged on the loan plus any interest already added. This means the amount you owe will increase quickly over time.
  • A lifetime mortgage will reduce an inheritance and may affect your entitlement to means-tested benefits.
  • You can stay in your own home and you will never owe more than it's sold for (subject to terms and conditions).
  • If you give the money away, the recipient may have to pay inheritance tax in the future.
  • You may have cheaper ways to borrow money.
Pros and cons of equity release

Is there a minimum amount I can borrow?

The amount you can borrow using one of our Lifetime Mortgages is based on your age and the value of your home. To help you understand the different limits on our Lifetime Mortgages we’ve outlined the amounts below.

  Flexible Lifetime Mortgage Optional Payment Lifetime Mortgage Income Lifetime Mortgage
Minimum initial loan amount £10,000 £10,000 £2,500
Minimum amount for additional drawdowns £2,000 £2,000  £200 a month
Maximum total loan amount Up to the full loan amount agreed at outset Up to the full loan amount agreed at outset 10% of the total amount available 

    Your adviser will help you choose the right product for you and make sure that you only borrow as much as you need.

Our lifetime mortgages

Choose the type of equity release that's right for you, from our selection of lifetime mortgages

 

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Flexible Lifetime Mortgage

If you'd like to take a lump sum, or a series of lump sums, and pay nothing until you die or move into long term care, select this option.

Find out more
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Optional Payment Lifetime Mortgage

If you'd prefer to take a lump sum, or a series of lump sums, and pay off some or all of the interest, this could be right for you.

Find out more
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Income Lifetime Mortgage

Or, if you'd like to have an income paid for a fixed term rather than a lump sum, take a closer look at our Income Lifetime Mortgage. 

Find out more

Call us about equity release

To speak with us about your equity release options, call the number below.

For any other enquiries please get in touch via our contact us page

0808 301 70440808 301 7044

Monday to Sunday 8:30am - 8:00pm
We may record and monitor calls

Need help?

Making decisions about how to finance your retirement is important so it’s worth making use of the guidance and advice services available.

 

Retirement guidance

Equity Release Council

Legal & General Home Finance Ltd is a member of the Equity Release Council, a trade body setting standards for providers. Take a look at their consumer brochure for more details.

Consumer brochure Go to the Equity Release website

Contact us about equity release

To discuss our Lifetime Mortgages, a loan secured against your home, and if they're right for you. 

Call us on:

0808 115 8129

Monday to Sunday 8.30am to 8.00pm

We may record and monitor calls

Get independent advice

You can't take out an equity release product unless you have taken financial advice. Find out how to access independent legal and financial advice.

Find out more