Equity Release
Prospect Mortgage Services provide independent, sound and honest advice for your mortgage and protection needs.
A few reminders before you start
Equity release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments.
There are two types of equity release; Lifetime Mortgages and Home Reversion plans. Both of these are regulated by the Financial Conduct Authority. By using an equity release product, a home owner can draw a lump sum or regular smaller sums from the value of their home, while remaining in their home.
Equity release can play a crucial role in retirement funding and the flexibility and safeguards which are built into plans that complies with the Equity Release Council product standards enable thousands of home owners every year to tap safely in to their housing wealth without having to worry about making monthly repayments.
Equity Release Calculator
To use the calculator follow these simple steps
- Add the value of your property
- Add the amount of loan you are looking for
- Add the ages of the applicants (must be minimum 55yrs)
- Add your income
- Indicate your joint monthly expenses
Once you have completed the calculation below we would recommend that you get in touch to discuss what might be acheivable in more detail. Please use the Book Now button to arrange a face to face appointment or a call back over the phone.