Equity Release Calculator
Prospect Mortgage Services provide independent, sound and honest advice for your mortgage and protection needs.
Equity release allows individuals aged 55 and over to release money from the property they live in without necessarily 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 the simple steps outlined in the tool and the calculator will give you an idea of your maximum borrowing potential along with the cost of making monthly repayments if you choose to do so. It will also let you know if a standard mortgage might be able to meet your objectives.
Our firm and our experienced equity release advisers are members of the Equity Release Council
This information does not contain all of the details you need to choose a mortgage, product or service. Please be sure that you read the separate key facts illustration before you make a final decision. The information provided by the calculator does not constitute a formal mortgage offer.