Equity Release-Important points to consider.
* The valuation of the property – the minimum acceptable UK property valuation is £70,000.
* Any outstanding mortgage or secured loan – needs deducting from equity release calculator results to give the net release available to you.
* The homeowners health records – poor health can affect the size of the maximum lump sum available from impaired equity release lenders.
* The age of the youngest homeowner – the minimum age that any lifetime mortgage scheme can start at is 55.
The maximum amount of equity that can be released will depend on numerous personal factors and the type of equity release scheme you are searching for. Remember taking a maximum release of equity is not always the best solution, and should only be used as a guideline to establish that the amount required is within equity release guidelines.