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.
How to use this calculator
- If you want a joint lifetime mortgage use the age of the youngest applicant
- Once you have your result you can keep using the calculator to see the different ways you could release the money
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.
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.
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.
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.
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.
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.
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.