The information on this page has been provided by Royal London Equity Release Advisers to help you understand more about equity release. They are authorised and regulated by the Financial Conduct Authority to give equity release advice. Royal London Group introduces customers to Royal London Equity Release Advisers who will make recommendations based on individual circumstances, after considering products from the whole market.
What is equity release?
Equity is the value of your home minus any secured loans you might have against it and any mortgage left to pay. If you’re a homeowner, you may have built up equity in your home over the years.
Equity release products could help UK homeowners aged 55 or over to unlock this value in the form of tax-free cash.
How can I release the equity in my home?
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If you’re a homeowner aged 55 or over, you could use equity release to unlock your home’s equity as tax-free cash, which can be used to fulfil some retirement goals, clear your current mortgage and more.
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The cash can be borrowed through a Lifetime Mortgage as a lump sum, and you could also have the option to take smaller amounts over time through drawdown.
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There are other ways to release your home’s equity. Visit the Mortgages for over 50s and Retirement Interest-Only Mortgage pages to compare your options.
How does the equity release calculator work?
Your home’s estimated value
You don’t need the exact value to get an estimate, but it will impact how much you can borrow.
Age of the youngest homeowner
This can affect the amount of money you could release, as the percentage available will depend on their age.
What your calculation shows
Using these details, the calculator will show the minimum and maximum amounts of cash you could release from your home.
Use the equity release calculator
Enter your details and Royal London Equity Release Advisers' equity release calculator will show you an estimate of what you could release with a Lifetime Mortgage, a loan secured against your home. You should know that this product will reduce the value of your estate and may affect your entitlement to means-tested benefits.
Afterwards, they will send you a clear guide that explains the different options available.
Speak with the team
Give the Royal London Equity Release Advisers Information Team a call for a no-obligation chat about your equity release options.
If you prefer, you can book an appointment with the team online and request a call back at a time that suits you.
Get financial advice
If equity release feels like the right choice for you, the Royal London Equity Release Advisers team will check if you're eligible before helping you to book an appointment with an equity release adviser.
Your adviser will help you to compare your options and find the right choice for you.
Start your application
If you decide to go ahead with equity release, your adviser will guide you through the application process and explain what information you'll need to provide.
They'll help to complete the paperwork and answer any questions you may have before your application is submitted.
Get in touch with the Royal London Equity Release Advisers Information Team
0800 023 9311
Lines are open Mon 08:30am to 6pm and Tues to Fri 08:30am to 5:30pm (excluding bank holidays).
Alternatively, if you prefer, you can ask for the Information Team to call you back.
Equity Release Calculator FAQs
How much equity can I release?
How much you can release is generally based on the age of the youngest homeowner and the estimated value of the property. Typically, the older you are the more you will be able to release.
Can I compare equity release plans?
Royal London Equity Release Advisers offer no obligation appointment with expert advisers that can help you to compare your options. You can learn more about comparing equity release providers in our guide.
Will I be taxed on the equity I release?
No, equity release is tax-free. This is because it is not classed as an income.
What information do I need to provide to use the equity release calculator?
The calculator will ask you for some personal details. Your age and an estimated value of your home are needed to provide an estimate of what could be available to you. It will also ask your name so your free guide can be addressed to you.
After providing a phone number, Royal London Equity Release Advisers' Information Team will also be in touch. They do not provide advice and are only there to answer any general questions you may have.
More equity release information and support
“Royal London Equity Release Advisers” is a trading name of Responsible Life Limited. Responsible Life Limited uses Royal London branding under licence from Royal London Marketing Limited. “Royal London”, the “Royal London logo” and “Royal London Equity Release” are registered trade marks of The Royal London Mutual Insurance Society Limited. Royal London Marketing Limited and The Royal London Mutual Insurance Society Limited do not provide regulated mortgage advice.
Responsible Life Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference 610205. Registered in England and Wales under company number 07162252. Registered office: Princess Court, 23 Princess Street, Plymouth PL1 2EX.
Responsible Life Limited is a wholly owned subsidiary of the Royal London Group who may benefit if you choose to take regulated mortgage advice. Being a wholly owned subsidiary of the Royal London Group does not alter Responsible Life Limited’s regulatory responsibilities.
If you choose a mortgage with required payments during your lifetime then your home may be repossessed if you do not keep up with the payments. Borrowing with a Lifetime Mortgage or Retirement Interest-Only Mortgage will reduce the value of your estate. Receiving a cash lump sum may also affect your entitlement to means-tested benefits. Think carefully before securing other debts against your home.
To understand the features and risks, ask for a personalised illustration. Your adviser will talk through the setting up costs of a mortgage. Only if you choose to proceed and your case completes will Responsible Life Limited charge an advice fee, currently not exceeding £1,890.