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What is Equity Release?
Equity release is a financial term for a group of products that allow you to unlock the capital1 invested in your home.
It can be either a lifetime mortgage product or a home reversion scheme.
The lump-sum amount released is tax-free.
How it Works
You calculate the amount of equity you can release from your home differently depending on which provider and product you choose.
An independent adviser or broker will provide you with a detailed analysis of your finances and calculated options for various equity release products you could consider.
The amount of equity you can release varies from 30.9% to 59.3%; however, many factors influence this amount, such as your age and home value.
The Pros
The benefits of an equity release calculator can be significant.
A calculator will allow you to obtain an approximation of how much equity you could release from your home by utilising a lifetime mortgage.
A few benefits of our calculator…
- The calculator is simple to use and will provide you with an immediate emailed result with an estimate of your potential loan-to-value2.
- You are under no obligation to purchase any products or accept any offers.
- We keep your personal information secure, so you can rest assured our calculator is safe.
5 Easy Hacks for Using a Home Reversion Calculator in 2024
- Last Updated: 17 Sep 2024
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Expert VerifiedAre You Looking to Release Equity With a Home Reversion Scheme? Learn How to Use a Home Reversion Calculator and How Much Equity You Can Unlock. Read On…
Have you avoided looking into home reversion because you do not know how much you can get?
In the ever-changing world of equity release, it is difficult to know what to expect.
Why not use a home reversion calculator and obtain an almost instant estimate on how much money you can release with home reversion?
In This Article, You Will Discover:
Our specialist economic journalists at EveryInvestor spend extensive time keeping updated on the latest home reversion market trends so we can bring you the most current information.
Therefore…
What is a Home Reversion Plan?
A home reversion scheme is an equity release plan offered by home reversion providers.
You can sell all or part of your home to the provider in return for a tax-free lump sum.
The value you get will be below market value, but you get to stay in your home as a life tenant in return.
How Much Cash Can You Release With a Home Reversion?
The amount of cash you can release with a home reversion plan will depend on how big a share in your property you are willing to sell to the provider.
Typically, you can get between 20% and 60% of your home’s value.
Your age also affects how much cash you can release, the older you are, the higher the percentage value you can receive.
How Do You Calculate a Home Reversion?
You can calculate a home reversion estimate by using a home reversion calculator like the one below.
It requires you to enter some basic details such as:
- The youngest homeowner’s age.
- Your marital status.
- Your gender.
- Your home’s location.
- The estimated value of your home.
- The size of the share in your property you are willing to sell.
The calculator will then calculate an estimate for you within minutes.
How Does a Reversion Company Calculate It’s Offer?
A home reversion company calculates it’s offer using it’s own criteria.
The main criteria they use are your age and property value.
Each deal is calculated individually, and the exact amount you may receive will depend on your circumstances.
What is a Home Reversion Calculator?
A home reversion calculator is an online tool that uses your age and property value to provide you with an estimate of how much equity you could release and how much it may cost you.
A home reversion calculator does not include an interest calculation because you are not charged interest1 on home reversion plans.
How to Use a Home Reversion Calculator
To use a home reversion calculator, you will need to enter your details online.
- The age of the youngest homeowner (this must be 60 or over).
- The estimated value of your home must be over £70,000.
- Your property’s postcode to confirm it is located in the UK.
- If your application is individual or joint.
Once you press submit, your results will be displayed and can also be emailed to you.
Things to Know About Your Results
It is important to understand that the results you receive are only a guide and are not the same as the value you could be offered by a provider.
A calculator does not have the same amount of detail as an application to assess your individual situation precisely enough.
Where Can You Find a Home Reversion Plan Calculator?
You can find a home reversion plan calculator right here on our page. Why not try it now?
Our calculator is quick and simple to use; enter your details, hit submit, and receive your results in seconds.
How Much Can I Receive With a Home Reversion Plan?
You can receive between 20% and 60% of your home’s market value2.
This will depend on your age, property market value and how big a share in your home you want to sell.
How Will I Receive My Money?
You can receive your money as a one-off lump sum, or regular access to a cash facility.
Common Questions
How Does a Home Reversion Calculator Work in the UK?
Where Can I Find a Reliable Home Reversion Calculator Online?
What Information Do I Need to Use a Home Reversion Calculator?
How Accurate is a Home Reversion Calculator?
Can a Home Reversion Calculator Help Me Understand My Equity Release Options?
In Conclusion
If you are considering home reversion and want to know how much you could get, it is best to use an online home reversion calculator to obtain an estimate.
We always promote responsible lending and encourage our readers to seek advice from an accredited financial adviser3 before making any decisions.
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