How much equity release will I get?
*Updated September 2024*
If you're aged 55 or over and own your home, you could potentially release between 20% and 53% of the equity in it. To calculate how much equity you can release, the lender will consider two things first - the value of your property and your age (or that of the youngest homeowner).
Your age will determine how long you are likely to have the plan for and how much you can borrow. Lenders generally won’t see any return on equity release until you die or move out into long-term care. So, the younger and healthier you are when you release equity, the longer it may take for the lender to see a return and consequently, the amount you can borrow may be less.
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.
To find out how much you could release from your home, use our equity release calculator below.
How to work out how much equity you have in your home
To work out how much equity you have in your home, all you need to know is the market value of your property and the outstanding balance of any existing mortgages. You then subtract the mortgage balance from the property value and the figure you are left with is your equity.
For example:
- Property value - £300,000
- Existing mortgage - £50,000
- Equity = £250,000
If you don’t have a mortgage on your property, the full value would be the amount of equity you have in your home.
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 how much you can release from your home. The percentage generally increases with age, so the older you are, the more you can release. For example, a 55 year old may be able to release up to 25% whereas a 70 year old could release as much as 42%.
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.
So how much equity can you release?
All equity release providers have a minimum lending amount which is typically £10,000 to £15,000, although premium schemes can have much higher thresholds. The maximum amount you can release will depend on the value of your property, your age and in certain circumstances, your health and lifestyle.
The following gives you a guide as to how much equity you could release from your home.
| Age of youngest homeowner |
Value of your home/indicative loan value |
| |
£150,000 |
£200,000 |
£300,000 |
£400,000 |
£500,000 |
| 55 |
£38,580 |
£51,440 |
£77,160 |
£102,880 |
£128,600 |
| 60 |
£46,920 |
£62,560 |
£93,840 |
£125,120 |
£156,400 |
| 65 |
£55,440 |
£73,920 |
£110,880 |
£147,840 |
£184,800 |
| 70 |
£63,150 |
£84,200 |
£126,300 |
£168,400 |
£215,500 |
| 75 |
£72,450 |
£96,600 |
£144,900 |
£193,200 |
£241,500 |
| 80 |
£79,545 |
£106,060 |
£159,090 |
£212,120 |
£265,150 |
| 86+ |
£76,500 |
£102,000 |
£153,000 |
£24,000 |
£255,0000 |
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 your health affect how much equity you can release?
Yes, your health can affect how much equity you can release. If you have health concerns, you may be able to release a higher percentage of equity from your property with a type of equity release called an enhanced lifetime mortgage.
The amount your equity release provider is willing to lend is partly based on life expectancy and how long it will be before the loan is repaid. Therefore, the shorter the life expectancy, the more equity the lender is willing to loan.
| 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 (your body mass index)
- Whether you smoke
- If you take medication
|
- High blood pressure
- Diabetes
- Exisiting heart condition or angina
- Cancer
- Multiple sclerosis
- Parkinson's disease
|
How much cash could you release with an enhanced lifetime mortgage?
If you qualify for an enhanced lifetime mortgage you may be able to borrow more, so be honest about any health issues that affect you. They could potentially give you more favourable terms:
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.
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