Equity Release Solutions - Independent Financial Advice

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 rrelease 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

Male	25%	50%	75%	100%
65	£17,459	£37,691	£57,923	£78,155
70	£20,602	£43,853	£67,104	£90,354
75	£23,698	£49,928	£76,158	£102,388
80	£26,551	£55,529	£84,507	£113,485
85	£28,997	£60,335	£91,673	£123,010
90	£30,953	£64,178	£97,403	£129,322

Female	25%	50%	75%	100%
65	£14,934	£32,743	£50,552	£68,361
70	£18,233	£39,205	£60,178	£81,150
75	£21,730	£46,064	£70,398	£94,732
80	£25,142	£52,762	£80,382	£108,002
85	£28,156	£58,683	£89,210	£119,737
90	£30,555	£63,396	£96,237	£127,787

Joint M/F	25%	50%	75%	100%
65/65	£12,936	£28,867	£44,798	£60,728
70/65	£13,803	£30,565	£47,328	£64,090
70/70	£16,002	£34,867	£53,749	£72,623
75/70	£16,982	£36,799	£56,616	£76,434
75/75	£19,368	£41,483	£63,599	£85,714
80/75	£20,420	£43,551	£66,681	£89,812
80/80	£22,807	£48,242	£73,677	£99,112
85/80	£23,858	£50,310	£76,762	£103,214
85/85	£26,018	£54,559	£83,099	£111,640
90/85	£26,984	£56,461	£85,938	£115,415
90/90	£28,738	£59,915	£91,091	£122,267

Based on Property Value of £180,000
Date of birth = dd/mm of calculation
Figures correct as at 18th December 2006
Figures are indicative and for illustration purposes only

The Spar Equity Release Service is sponsored by Retirement Plus which is an authorised home reversion provider, but which is not authorised to give advice to the public. Retirement Plus has chosen Equity Release Solutions, a specialist adviser in the equity release market, to provide independent advice for all your equity release needs.

Equity Release Solutions Ltd does not charge any up front fees. A fixed charge is paid on completion of an equity release plan. This is currently £595, and the lender will pay Equity Release Solutions a procuration fee (commission) which is retained. Retirement Plus recieves an introduction fee of £100 from Equity Release Solutions.

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

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

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


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