If you want to find out how much of an income you could get from equity release using an equity release calculator is by far the easiest way to do it. This calculator is not designed to be 100% accurate rather to give you a rough idea. Armed with this information you can then decide whether or not to take the next step and get quotes.
The details you need to use them are very basic. All you need to do is type in the value of your property, which you can get from looking at local estate agent listings, and the value of any loans or mortgages that are secured against the property. In addition, most calculators ask you to include the age of the youngest homeowner. This has an impact on how much income companies are willing to give against the equity still locked up in your home. In fact, most companies will not consider equity release for any homeowner aged less than 55. Most calculators also ask for some form of contact details, either an e-mail address or telephone number. They usually send the results of your calculation to your e-mail address or ring you with it.
Finding an Equity Release Calculator
The internet is the best place to find an equity release calculator. Many of the firms that run equity release schemes include a calculator on their own website. However, they often require a lot more information than stated above.
The simplest, and best, calculators are to be found on financial services comparison websites. Using a calculator on these websites is often better than using the ones found on other kinds of websites. They keep an eye on the equity release market as a whole and have a better feel for what most equity release companiesare offering homeowners like you.
If you do not like the idea of putting personal details into an online equity release calculator an independent financial adviser will do the calculations for you. However, there is no need to worry about using an online calculator because the information you give there is 100% confidential and is never sold on.
Visit Age Partnership today to use their simple equity release calculator. Age Partnership monitors and provides quotes from a wide range of the UK’s equity release providers.
