*Updated January 2025*
If you're a homeowner aged 55 or over, you could potentially release between 30% and 55% of the equity you have in your property. To calculate how much you can release, the lender will consider two things first:
1. The value of your property
2. Your age - or if you're applying jointly, the age of the youngest homeowner
Your age has an impact as plan providers typically won’t see any return on their loan until you die or move into long-term care. So, the younger and healthier you are when you release the equity, the longer they may have to wait for a return. That's why the amount you can borrow is likely to be less at 55 then if you were older.
Equity release providers will also consider other criteria, including:
- Whether you own the property outright - if you still have a mortgage or any other debt secured against your home, you will need to pay this off first with the money you release.
- The construction type and condition of your home - such as the materials it's made from, and its state of repair.
To find out how much you could release from your home, use our equity release calculator below.
How do I work out how much equity I have in my home?
To work out the equity you have in your home, you'll need to know two things - the market value of your property and the outstanding balance of any existing mortgages.
Then simply subtract the mortgage balance from the property value and the figure you are left with is your equity.
For example:
- Property value of £300,000
- Minus existing mortgage of £50,000
- Equals equity of £250,000
If you don’t have a mortgage on your property, there is nothing to subtract, so the amount of equity you have is the same as the full property value.
If you want to get an approximate value for your home, visit Money Saving Expert, Yopa or Zoopla.
Does your age affect what percentage of equity can you release from your house?
Yes, your age does affect the percentage of equity you can release from your home. Generally speaking, the older you are, the higher the percentage you can release. For example, a 70-year-old could release as much as 44%, while a 55-year old may only be able to release around 30%.
So, even if a 70-year-old and a 55-year-old each owned a property of exactly the same value, the 70-year-old would be able to release more cash.
A note from our expert, Ashley Shepherd:
The amount of money you can release from your home will depend on the equity you have in your home, your age and your health. Always take specialist equity release advice to ensure equity release is a good option for you.
What's the minimum amount I can borrow with equity release?
All equity release providers have a minimum lending amount, which is typically between £10,000 and £15,000, although premium schemes can have much higher thresholds.
If you need less than £10,000, you may want to explore simpler – and potentially cheaper – alternatives to equity release, such as a personal loan, dipping into your savings, or asking family or friends for financial support.
What's the maximum amount I can borrow with equity release?
The maximum you can borrow with equity release will depend on the value of your property, your age (or that of the youngest homeowner) and, in certain circumstances, your health.
So, how much equity can you release?
This table gives you a guide as to how much equity you could release, depending on your age and the value of your property:
| Age |
Value of your home/indicative loan value |
| |
£200,000 |
£300,000 |
£400,000 |
£500,000 |
£1,000,000 |
| 55 |
£59,200 |
£88,800 |
£118,400 |
£148,000 |
£296,000 |
| 60 |
£68,200 |
£102,300 |
£136,400 |
£170,500 |
£341,000 |
| 65 |
£77,600 |
£116,400 |
£155,200 |
£194,000 |
£388,000 |
| 70 |
£88,000 |
£132,000 |
£176,000 |
£220,000 |
£440,000 |
| 75 |
£102,600 |
£153,900 |
£205,200 |
£256,500 |
£513,000 |
| 80 |
£116,200 |
£174,300 |
£232,400 |
£290,500 |
£581,000 |
| 90 |
£96,000 |
£144,000 |
£192,000 |
£240,000 |
£480,000 |
For a more accurate figure and personalised illustration, use our equity release calculator.
Try the calculator
More information on the topics raised in this article
Can my health affect how much equity I can release?
Yes, your health can affect how much equity you're able to release. The amount a provider will be willing to lend is based partly on life expectancy, as this determines the waiting period before they will be repaid. So, the shorter the life expectancy, the faster the return and the more a lender will be willing to loan.
If you have specific health concerns, you may be able to release a higher percentage of equity from your property with an enhanced lifetime mortgage.
| Lifestyle factors that may affect how much equity you can release: |
Health factors that may affect how much equity you can release: |
- Your weight and height (or BMI)
- Whether you smoke
- Whether you take medication
|
- High blood pressure
- Diabetes
- Existing heart condition or angina
- Cancer
- Multiple sclerosis
- Parkinson's disease
|
How much extra could I release if I have health problems?
If you qualify for an enhanced lifetime mortgage and have certain specific health issues, you may be able to release a higher percentage of equity. So it's worth being honest about any conditions that affect you, as this could result in more favourable terms. For example:
Age 60: Standard maximum 31% Medically enhanced maximum 33%
Age 70: Standard maximum 42% Medically enhanced maximum 43%
Age 80: Standard maximum 53% Medically enhanced maximum 54%
For a more personal quote, please get in touch.
Can I borrow more if I already have equity release in place?
Yes, it may still be possible for you to release additional funds from your property, even if you already have equity release in place. You could start by asking your current lender if this option is open to you.
You could also look into switching equity release provider in order to borrow more as this could also give you better terms or a lower interest rate.
However, it’s important to be aware that there may be time restrictions on when you can switch or you may incur an early repayment charge. Make sure you understand all the fine print before changing providers.
How much could I release with a home reversion plan?
With a home reversion plan, your provider buys all or a percentage of your home rather than you borrowing against it. They will buy this at a considerably reduced price – generally between 20% and 60% of the full market value - and you can then continue to live in your home until you die or move into long-term residential care.
You must be over 60 to be eligible for this type of equity release and how much you can get will depend on your property’s value (typically, it must be worth around £70,000), your life expectancy and your age (or that of the youngest joint applicant). In most cases, the older you are, the more you'll be offered.
Next steps
If you're considering releasing equity in your property and want to know how much you could get, try our free and easy-to-use calculator.
If you'd like to know more about equity release, we've answered some common queries, such as how releasing equity can affect your benefits.
Or for free advice from an equity release specialist at Age Partnership, call 0800 368 8466.
Try the calculator