Equity Release Solutions - How Much Can I Borrow?

How Much Can I Borrow?

Lifetime Mortgages

With a lifetime mortgage the amount that can be borrowed depends on your age (or the age of the youngest applicant, if there's two of you) and the value of your property, up to a maximum of 56% of the property's value. The table below gives an indication of the amount some equity release providers may be prepared to lend.

How much could you release?

Example: Mr Jones is 70 and owns a home worth £180,000. He decides to release some of the equity in his property to supplement his retirement income, fund home improvements and replace his car. With a lifetime mortgage plan, he could raise a maximum of £67,500 (37.5%).

Age	55	56	57	58	59
Max LTV Available	21.5%	22.5%	23.5%	24.5%	25.5%

Age	60	61	62	63	64
Max LTV Available	26.5%	27.5%	28.5%	29.5%	30.5%

Age	65	66	67	68	69
Max LTV Available	31.5%	33.5%	34.5%	35.5%	36.5%

Age	70	71	72	73	74
Max LTV Available	37.5%	38.5%	39.5%	40.5%	41.5%

Source: The Exchange 22/11/2007

Home Reversion

With a Home Reversion Scheme you have the option to sell 100% of your property or only sell part of your property, for example 25%, 50% or 75%. As a result you will raise less money than if you sold 100%.

Example rates kindly supplied by Bridgewater Equity Release

Male	25%	50%	75%	100%
65	£17,392	£37,560	£57,728	£77,896
70	£20,538	£43,727	£66,916	£90,105
75	£23,642	£49,818	£75,994	£102,169
80	£26,505	£55,441	£84,376	£113,311
85	£28,965	£60,272	£91,579	£122,886
90	£30,933	£64,138	£97,343	£129,243
?
Female	25%	50%	75%	100%
65	£14,889	£32,656	£50,422	£68,188
70	£18,185	£39,111	£60,037	£80,962
75	£21,683	£45,971	£70,259	£94,547
80	£25,101	£52,681	£80,622	£107,842
85	£28,125	£58,622	£89,118	£119,615
90	£30,534	£63,356	£96,177	£127,708
?
Joint M/F	25%	50%	75%	100%
65/65	£12,895	£28,786	£44,678	£60,569
70/65	£13,761	£30,484	£47,207	£63,929
70/70	£15,955	£34,783	£53,612	£72,440
75/70	£16,935	£36,708	£56,481	£76,254
75/75	£19,319	£41,388	£63,456	£85,524
80/75	£20,373	£43,459	£66,544	£89,630
80/80	£22,762	£48,153	£73,545	£98,936
85/80	£23,817	£50,228	£76,640	£103,051
85/85	£25,981	£54,487	£82,993	£111,498
90/85	£26,952	£56,397	£85,843	£115,289
90/90	£28,713	£59,865	£91,016	£122,168

Based on Property Value of £180,000
Date of birth = dd/mm of calculation Actual amounts will vary depending on exact Date of Birth and date of calculation
Figures correct as at 13th December 2007
Figures are indicative and for illustration purposes only

Registered Office: Centrix House, Crow Lane East, Newton Le Willows, WA12 9UY Registered in England and Wales No: 05195106

Equity Release Solutions Limited is an appointed representative of Personal Touch Financial Services Limited, which is authorised and regulated by the Financial Services Authority.

The guidance within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK

For our advice we charge a fee of typically £595 paid on completion and we receive commission from the lender.


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how much can i borrow

How Much Can I Borrow?