# Standard Lump Sum Calculator

## Introducing the Calculator for Standard Lump Sum Mortgages

You’re thinking about equity release & specifically a standard lump sum loan to get some extra cash. But how much can you release? This calculator is there to help you. Let’s take a look.

You’re thinking about equity release and specifically a standard lump sum loan to get some extra cash. But how much can you release? This calculator is there to help you. Let’s take a look.

Suppose your niece is getting married, and you want to give them the gift of catering for the wedding and paying for the flowers and decorations. You might’ve promised to buy them a cake as well, but you’re all out of cash! You might’ve set out your pension salary and capital from your private business, and you see you don’t have enough money to pay for all your promises to your niece.

Let me tell you something.

Luckily, if you’re 62 and own a home with an estate valued at over £70,000, you can take out a lump sum lifetime mortgage equity release plan to help your niece out with their wedding.

## Explaining What a Lump Sum is

A lump sum is a form of payment. It’s a large sum of money paid as a single instalment, rather than repaying in smaller amounts more regularly. When it comes to loan vocabulary, people also refer to it as a bullet repayment. Equity release plans, for example, can be repaid as a lump sum when you pass away, or in monthly instalments.

For more on this: Lump Sum Breakdown

So, you want to take out an equity release lifetime mortgage plan as a form of a loan, but you want to find out how much money you’ll end up with. But, before you go any further, let’s talk about lifetime mortgages in more detail.

Simply put:

As mentioned before, this type of mortgage lets you take out a mortgage on your home if it’s your primary residence2. However, you will remain the owner. You’ll have the option to ringfence part of your property for your family to inherit. You can also make repayments or let the interest increase. Better yet, if there’s any loan amount or any accrued interest, it’ll be paid back when you pass away or need long-term medical care.

Best of all:

The quicker you pay it off, the more money you’ll save. Now, suppose you have this fantastic lump sum calculator. In that case, you’ll be able to calculate just how much you’ll save by making repayments as a more considerable lump sum, rather than monthly repayments.

But why do I need this calculator, and how does it work?

## How Much Equity Can You Get With A Lump Sum Mortgage?

Making lump-sum payments into your loan will save you money in the long run. So, you need to find out how much you’ll need to pay into your loan to save the most.

Now:

Taking out an equity release plan such as the lifetime mortgage plan, you’ll want to know the estimated amount you’ll be able to get, right? Well, this standard lifetime mortgage lump sum calculator will help you to figure that out.

Firstly, let’s look at what you’ll need to provide the calculator with:

• The property value that you’re going to release equity from
• Cell phone number

It’s as simple as that! You’ll then be provided with an estimated amount you can borrow from your property.

## The Calculator For Standard Lump Sum Mortgages

So, you’re seriously considering taking out this mortgage. Well, to give you that final nudge, we’ll tell you how much you can loan from your provider. This calculator will help you determine how much money a monthly sum will be worth at the time of maturity.

## How To Use The Calculator For Standard Lump Sum Mortgages

The calculator is simple to use. Enter the monthly amount you would like to pay, and then enter how many months it will take for that sum to mature. You can also choose what type of mortgage this is, whether it be a 30-year fixed or 15-year mortgage

## In Conclusion

We understand that in today’s society you will be faced with unexpected or unforeseen costs and in those moments you are just a little bit short financially. You may not want to make a financial commitment to anything long-term in order to get this quick fix of cash.

Equity release is such a great option if you want money and you want it fast. It’s a way to provide for instant needs at low interest rates. But you don’t always know how much you’ll be able to borrow. And that can be off-putting. No worries! This standard lump sum calculator is there to sort out that problem for you.

What People Say

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