Standard Lump Sum Repayment Calculator

Introducing The Calculator For Standard Lump Sum Mortgages

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.

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.

Equity release, you say?

Equity Release

Equity release refers to your property’s items/parts that let you access your money tied up in your house. However, you can only gain access once you’re 55 years or older. You can get the capital value of objects in your home as a lump sum or an income based on the house’s value. You’ll just need to repay that money you accessed at a later stage. There are two types:

  1. Lifetime Mortgage

The first type of equity release is a lifetime mortgage. This type lets you take out a mortgage on your home if it’s your primary residence. 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.

  • Home Reversion

The second type is a home reversion, which means you sell some of your property or your whole property. You can sell it to someone like a home reversion provider, and they’ll pay you a lump sum for it, but they can also pay you in regular payments. It’s your choice.

You might be asking yourself:

What’s a lump sum?

A lump sum1 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.

Now:

What’s the big hype about lump sum mortgages anyway? Read on to find out about this kind of equity release plan. We also tell you how to calculate the amount you’ll be able to receive.

Are You Still Unsure About Lifetime Mortgages?

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
  • Your age
  • Your full name
  • Cell phone number
  • Your email address

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

Common Questions

What's a Lump Sum Lifetime Mortgage Calculator?
What Are The Advantages Of Using A Lump Sum Mortgage Calculator?
How Do I Use A Standard Lump Sum Calculator?
Is The Standard Lump Sum Calculator Trustworthy?

In Conclusion

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.

How Much Can You Release?

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How Much Can You Release?

Most people are using Equity Release as a means of retaining the use of their house while also obtaining a lump sum or a steady stream of income. Get matched with an expert and check your eligibility for equity release options.
Use our free equity release calculator & see how much you can release today.

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