How much equity can I release?

The amount of cash available through equity release is determined by using two key variables:

• The value of the property in question
• The age of the applicant(s)

Generally the older the youngest applicant is, the more the amount will be.

As a guide the percentage of the value of a property which can be released will be between 20 – 65%, although this will greatly depend on both the variables mentioned above and the type of equity release plan you take out.

If you have a mortgage or other debt secured against the property the amount you are able to release will be reduced. Having a debt secured against your property will not necessarily exclude you from equity release, but it will impact the final amount as the outstanding debt will first need to be settled.

Once a provider has made you an offer you will not be obliged to take the full amount, you will be able to take an amount up to the maximum, take smaller amounts up to the maximum over time or even take out another equity release product sometime in the future.

If you feel that equity release may be right for you, or if you’d just like to know more you can call 0800 622 6035 or request a call back. One of our team will be able to discuss with you your circumstances, review your eligibility and, if appropriate, arrange an appointment for you with an adviser.