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Equity release calculator

See how much equity you could release from your home with our simple lifetime mortgage calculator

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 so we can show you the calculation. You may also receive a call from us to assist you with your enquiry.

Before you start

  • If you want a joint lifetime mortgage, use the age of the youngest applicant.
  • The amount you can borrow is based on your age and the value of your home, but this might be less when you come to apply.
My date of birth is
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Are you still in employment?
be able to make monthly interest payments until I retire
£
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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.

If we call, we’ll use your address to look up your property to assist with your enquiry.

Just one more step…

To find out how much you could receive, and to get a call back to discuss the product details, please complete the form. You can also provide your email address if you’d like to opt in to receiving emails about our products and services.

We’ll never share your details with third parties for their own marketing purposes. Details of how we process your information can be found in our privacy policy. You can opt out of marketing at any time by emailing LGFAoptout@landg.com

Based on the information supplied you could release:
This is an estimate. The amount you can release depends on your property, its value and your individual circumstances. Speak to an adviser to find out how much you could release.

Thank you.

* Required

What do you plan to use the money for? (You can select more than one) *
What best describes you?
If you are thinking about applying for a lifetime mortgage with someone else, please let us know their date of birth.
By clicking 'Get result' and submitting this form you consent for us to potentially calling you about your results and how our Lifetime Mortgages may work for you.
By providing your email address you're giving consent for us to send you emails with news, information and offers on the products and services provided by Legal & General Financial Advice.

"I started looking at lifetime mortgages because my younger son was living with me. He’s always wanted to get on the property ladder but has never been in a position to save up enough for a deposit. So, I started investigating to see how I could help him. I spoke to a couple of financial advisers and the name that kept coming up all the time was Legal & General, so I thought well it’s got to be worthwhile talking to them to see what they offer."

- Evadne, Nottingham

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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 aged 55 (or 50 for a Payment Term Lifetime Mortgage) 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 £70,000 or £100,000 depending on your property type and product chosen.
  • For the Payment Term Lifetime Mortgage you must also pass an affordability assessment.

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

Things to consider

  • Interest is charged on the loan plus any interest already added. This means that if you're not servicing any of the interest, 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.
  • 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.
  • 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 can't keep up your payments on the Payment Term Lifetime Mortgage, as a last resort your home may be repossessed.

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, plus an affordability assessment for the Payment Term Lifetime Mortgage. To help you understand the different limits on our Lifetime Mortgages we’ve outlined the amounts below.

Interest Roll Up Lifetime Mortgage

Optional Payment Lifetime Mortgage

Payment Term Lifetime Mortgage

Minimum initial loan amount

£10,000

£10,000

£10,000

Minimum amount for additional drawdowns

£2,000

£2,000

Additional drawdowns not available.

Maximum total loan amount

Determined by your age and property value.

Determined by your age, property value, affordability and the length of the payment term.

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

Flexible product image

Interest Roll Up 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.

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Optional Payment Lifetime Mortgage

If you're aged 55 or over and 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.

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Payment Term Lifetime Mortgage

If you're aged 50 or over and you'd prefer to take a lump sum and pay all the interest each month for a chosen payment term, this could be right for you.

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Get later life mortgage advice from our specialists today

Start getting answers to your questions about later life mortgages in less than 60 seconds, or request a call back from our team.

0808 296 1040

Monday to Friday 9.00am - 5.30pm
We may record and monitor calls.

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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

Contact us about lifetime mortgages

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 Friday 9am - 6pm, Saturday 9am - 1pm.

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.