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What is an Equity Release Calculator?
Visit any reputable equity release company website and you should see an equity release calculator. In just a few seconds, and with only a few mouse clicks, it’s possible to see whether you qualify for equity release.
Typically, you will be asked to enter the estimated value of your property, how much of your mortgage you have left to pay and the age of the youngest applicant. Within minutes you will have a quote. Look out for an equity release calculator that offers quotes for both lifetime mortgages and home reversion plans: these are the best ones.
What’s the Next Step?
Once you have used an equity release calculator, you should consult with the experts. A specialist equity release adviser will look into your circumstances in more detail and advise you on all your options. Whilst an equity release calculator will be able to give you a rough estimate of how much you could release, only a professional will be able to give you an exact amount. Seeking their advice is a vital part of the process.
After you arrange a free, initial consultation with an equity release specialist they will guide you through all your options and discuss the alternatives with you if appropriate.
Let these professionals know you have used an equity release calculator and they will then be able to explain to you the reasons why your online quote may slightly differ to what they conclude.
Trust these professionals to manage your equity release application from start to finish and you could soon be enjoying thousands of pounds worth of tax free cash.
Equity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, please ask for a personalised illustration.
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Bower Retirement Services is an FSA regulated independent financial advice company that offers specialist advice on equity release throughout the south of England. Visit http://www.brsequity.co.uk/