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How much can I access with Equity Release?
How much can I access with Equity Release?
The value of accessible funds and how they can be used are key considerations when contemplating Equity Release in the UK. Here, we explain how lenders evaluate the amount you can unlock from your home, and what you can do with the funds.
How is the amount determined?
The amount you can unlock from Equity Release depends on several factors, including:
Homeowner’s age - products are usually available from age 55 and borrowing limits increase with age. So, often the older you are, the more you can borrow.
Property value - as expected, the greater the value of your home, the greater the potential Equity Release amount.
Health - some lenders offer enhance Equity Release options for certain health conditions. In this case, there is potential to borrow more.
Lender criteria - different lenders have loan-to-value (LTV) limits and evaluate risk.
What is a typical amount to release?
Depending on the above factors, most homeowners can release between 20% and 60% of their home’s market value. So, a property worth £400,000 could, for example, provide for an Equity Release of between £80,000 and £240,000.
To find out more about your own home and specific circumstances, we advise speaking with one of our Equity Release specialists.
How can you use the funds?
Equity Release offers significant flexibility to use your funds as you wish, including for:
Home improvements and renovations, for example to enhance your accessibility.
Increasing your retirement income and financial comfort.
Offering your loved ones financial support, such as helping your child with their first house deposit.
Clearing debts to reduce financial burden.
Enjoying your retirement, hobbies and travel opportunities.
Important considerations:
If unpaid, the interest will compound so the debt can accumulate significantly over time.
The loan is repaid from the sale of your home which could impact your family’s inheritance.
Some plans charge early repayment fees, should you decide to repay the loan early.
Access to equity release may impact your eligibility for means-tested benefits.
Is Equity Release Right for You?
Equity release can be a valuable financial solution for those looking to improve their retirement lifestyle. However, everyone is different, and it is important to understand how it works. It is essential to seek financial advice to help you make an informed choice that aligns with your goals and financial security.
Committed to helping local residents fulfill their retirement goals.
If you’re a homeowner in Ascot, Windsor, or beyond and are considering equity release, Autumn Financial is here to guide you.
With Toby Wheeler’s expertise and our unwavering commitment to client satisfaction, you can trust us to provide the support and advice you need to make informed, confident decisions about your financial future.
WHO ARE WE?
CM Finance Limited is an appointed representative of Connect IFA Ltd who are authorised and regulated by the Financial Conduct Authority (FCA) registration number 441505. The FCA does not regulate some Business Buy to Let Mortgages and Commercial Mortgages to Limited Companies. The information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
Contact Us:
Address: 42 St. Lukes Road
Windsor, SL4 2QQ
Phone number: 01753 358007
FEES:
There will be a fee for mortgage advice, the precise amount will depend upon your circumstances. Your Consultant will confirm the amount before you choose to proceed but we estimate it to be £999.
COMPLAINTS:
It is our intention to provide you with a high level of customer service at all times. If there is an occasion when we do not meet these standards and you wish to register a complaint, please write to: Compliance Department; Connect IFA Ltd, 39 Station Lane, Hornchurch, RM12 6JL or call: 01708 676110. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service
financial-ombudsman.org.uk
CONSIDER:
Equity release plans are not right for everyone and it is important that you fully consider your options and receive impartial financial advice before making a decision. It is also important that, if you do decide to use an equity release product, you need to be sure it is one that meets your needs. If you would like to end your lifetime mortgage early, then you may have to pay a substantial early repayment charge. A professional adviser can help you to choose the plan that is right for you. To understand the features and risks, ask for a personalised illustration.
COMMISSION DISCLOSURE:
We are a credit broker and not a lender. We have access to an extensive range of lenders. Once we have assessed your needs, we will recommend a lender(s) that provides suitable products to meet your personal circumstances and requirements, though you are not obliged to take our advice or recommendation. Whichever lender we introduce you to, we will typically receive commission from them after completion of the transaction. The amount of commission we receive will normally be a fixed percentage of the amount you borrow from the lender. Commission paid to us may vary in amount depending on the lender and product. The lenders we work with pay commission at different rates. However, the amount of commission that we receive from a lender does not have an effect on the amount that you pay to that lender under your credit agreement. CM Finance Limited is registered in England and Wales under reference number 13751517
Registered address Merrimen Oakley Green Road Windsor Berkshire SL4 4PZ