Taking out a lifetime mortgage to help boost income in retirement is a big decision, one that usually entails lengthy discussions and debates. This is where an equity release calculator can prove to be very useful, helping inform any decisions in the early stages of taking out a plan.Do you want to learn more? Visit equity release calculator cost.

Using an equity calculator in the initial stages can identify whether or not you qualify for a plan and how much you could potentially release. This second benefit could have a major impact on whether or not you decide to proceed with a home reversion plan. For instance, if you need a certain sum and equity cannot unlock enough in your current circumstances, you might then decide to consider other avenues.

Providing Some Clarity for Your Decisions

Finding out how much of your equity you can unlock using an equity release calculator could be the first step to taking out a plan. Typically, you will have access to expert advice on lifetime mortgages provided by an experienced advisor, which will help reinforce whether or not this means of additional finance is suitable.

Related imageUsing a calculator is quick and easy and gives you the answers you need without much of a wait. All that you need to do is fill in a few details about you and your partner, some details about the property and your mortgage and you will find out if you qualify for an home reversion plan and how much you could potentially unlock.

Whilst a home reversion plan will have the potential to unlock a tax-free lump sum from the value of a property to supplement income in retirement, there are considerations to factor into the planning. The amount of inheritance you leave behind will be affected, as will any benefits you claim.

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