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Equity Release Calculator

Updated on July 25, 2010

Releasing a Part of Your Property’s Equity

Equity release system is a loan that is taken out of your property or a way to cash in a part of the equity that you have on your house. There is a difference on the amount that a borrower owes from any financial lending firm when it comes to equity; hence, it is the market value of the house or the property that the borrower owns. The amount of equity for a certain property is determined by its current market value. It is best to find out first when is the right time to release a part of the equity built up on your remortgage property.

With the equity release system, you are only required to release a part of your equity. This part is usually released to remortgage lenders in exchange of an arrangement that will benefit the homeowner. The arrangement can be a monthly installment of a fixed amount that will help finance daily expenses or it can be lump sum cash out. If you want to find out the amount that can be released from your equity, an equity release calculator will help you.

Cashing In On Your Property

One of the reasons why borrowers opt for remortgage loans is the ability to cash in on their equity and with this method, homeowners would also reap other benefits such as; “No Negative Equity Guarantee” protection which ensures their stake on their house or property; lowers the amount of inheritance tax and an income free of tax on either lump sum or monthly installment arrangement

There are various remortgage lenders that will offer you the use of an equity release calculator, especially those who operate online. This tool is free for homeowners to use for them to calculate the cash out that they can get from their equity. It is a great advantage to use an equity calculator to presume the funds that a borrower will receiver if ever that decision is taken out.

Using an Equity Release Calculator

For equity release calculators to work, a borrower will need to supply information pertaining to the property or house in question. The calculator will foretell the converted cash amount from the property’s equity. If you want to have more advanced predictions with various possible outcomes on the equity payout, you need a calculator that is capable of providing profound information o different types of equity release deals. To make sure that you are getting accurate calculations on your equity cash out, it is best to use several calculators to test out consistency of data and to come up with the best offer on interest rates.

The majority of senior homeowners will very much prefer equity release schemes to provide them with financial stability in terms where they receive a substantial amount of payments on a monthly basis that will help them sustain their regular expenses for the rest of their lives. Some may prefer to receive a big amount of cash and apply for quick remortgage loans that they may use for various purposes which is also possible. Whichever payment option a borrower may choose, the important thing is to make sure that it is used for the betterment of ll party concerned.

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