Royal London has chosen to introduce its customers to the experts at Royal London Equity Release Advisers. They will provide advice on equity release products from across the whole market and will make a recommendation to you based on your personal circumstances. You will not receive advice or any recommendation from Royal London. The information on this page has been provided by Royal London Equity Release Advisers to help you understand more about releasing equity.
What is equity?
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.
How is the equity you could release calculated?
You'll need to have a few details to hand before you get started. Let's take a look at what information the calculator will ask for and how Royal London Equity Release Advisers can use that to calculate the amount of equity you could release.
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.
How is equity released from your 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 55s and Retirement Interest-Only Mortgage pages to compare your options.
Use the equity release calculator
Enter your details and Royal London Equity Release Advisers' equity release calculator will show you an estimate of the amount of tax-free cash you could release from your home.
Afterwards, they will send you a clear guide that explains equity release and the different options that could be available.
Important Information
If you choose a mortgage with required repayments during your lifetime then your home may be repossessed if you do not keep up with the payments.
A Lifetime Mortgage or Retirement Interest-Only Mortgage will reduce the value of your estate and may affect your entitlement to means-tested benefits. You should think carefully before securing other debts against your home.
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.
Start your application
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 can then help to start your application and answer any questions you have along the way.
Get in touch with the Royal London Equity Release Advisers Information Team
0800 023 9311
Mon to Fri: 9am-8pm. Sat: 9am-5pm, excluding bank holidays.
Alternatively, if you prefer, you can ask for the Information Team to call you back.
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 £1,690.