Instead of moving to a bigger house you might be thinking about an extension or conversion. If you want to remortgage to release equity you will need to contact your current mortgage company or remortgage with a new lender in order to release the cash. 8. Buy-to-let secured loans tend to be more flexible when it comes to credit history. Phone * Preferred Contact Time. Hell or Habito: Find out how much you can borrow with our remortgage calculator that scans over 20,000 mortgages from 90+ lenders to find real products you could be eligible for. If you just want to switch and save money without consolidating any short term debt Click here switch and save . And the mortgage amount includes any early repayment fees and any secured loans. Name * First Name Surname. Equity Release Calculator . Those who remortgage to release the equity that they have built up in their home, should consider carefully about how and when they are going to do this, however. Equity release allows you to unlock the equity in your home without having to sell up and move out of your house so that you can have money to spend on whatever you want or need. If you remortgage, you can release the money tied up in your property, ideal if you need a cash lump sum and are willing to restart your loan term. You may want to release money from your property to pay for home improvements, or to use the money to supplement your pension. But itâs important to carefully consider your options, and the fact that higher LTV mortgages will typically come with higher interest rates than those at a lower LTV, and remortgaging to release equity will increase this. You can release equity from your house to put down a deposit on another property, but you will usually need significant equity to do this. Use it today! We have access to a selection of competitive equity release schemes. Our free equity release calculator gives you personalised results to see how much tax-free cash you could release from your home. Interest rates change regularly so you may find a lower rate than your current deal, which could make your monthly mortgage payments lower â or mean you may be able to pay it off quicker. Advantages: Advantages of equity release include being able to use the money for anything, maybe things that were once not affordable. Though you may be able to release up to 60% of your propertyâs value, itâs worth bearing in mind that this may change your financial situation quite drastically. Never rush into the decision to remortgage to release equity. To ensure you get the right equity release mortgage for you, MoneySuperMarket have partnered with Fluent Mortgages and their expert equity release advisors. Can I remortgage to release equity? Preferred Contact Method. (NB the calculator is only meant for looking at equity release in an IVA. Simply enter the approximate value of your home, and the remaining balance left to pay on your mortgage, and our calculator will tell you how much money you could release. Equity release plans are not right for everyone and it is important that you fully consider your options and receive independent financial advice before making a decision. Note. For example, you have a house that's worth 20000 pounds. See if you can save money by remortgaging to a lower rate. It is also important that, if you do decide to use an equity release product, we need to be sure itâs one that meets your needs. Remortgaging is a big decision and a potentially daunting prospect, calling for independent expert advice at the earliest possible stage. With the rise in property value over the past 20 years there are a lot of people that have a large amount of equity in their property. Fluent will need to speak to you regarding your requirements. The decisions that you make now can affect your financial situation for years to come. Remember that taking an equity release plan is generally a long-term option. Can you remortgage in later life. Here you need a remortgage to release that 10000-pound equity kept under the mortgage. A n equity release calculator is a great tool to use if you are over 55 and considering releasing equity from your home without having to sell or move out. Equity release allows homeowners aged 55-95 to access a portion of their property's value. Our calculator will give you an idea of just how much money you could release from your home. If youâve got any further questions about remortgaging or mortgages in general, please contact us. Equity release plans allow people 56 years of age and older to release some of the cash which is tied up in their homes. If you want to let the property, you will need to a buy-to-let mortgage. Equity Release Schemes. You can then use the funds for things such as helping your children with a house deposit of their own. Just enter your details in our remortgage calculator to compare remortgaging deals. What is a Remortgage? Also if you have more recently gotten a mortgage you will have been making repayments, building equity in your property. If you have been considering remortgaging your home, you undoubtedly have questions and concerns to address. But for older borrowers, there are many other things to consider when it comes to remortgaging to release equity. Equity release may involve a lifetime mortgage or a home reversion plan. In that case, your equity in your home is 10000 pounds. Now you have taken a loan of 10000 pounds by mortgaging that house. An equity release calculator from azmoney.co.uk can offer you an estimate of what proportion equity you'll release from your home. How can I get the best rates on a buy to let remortgage? Remortgage Calculator. Loading - Please wait. 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