Our calculator will give you an idea of just how much money you could release from your home. We'll never share your details with third parties for their own marketing purposes. An equity release calculator enables you to determine how much money you can release from your home. By providing your email address you're giving consent for us to send you emails with news, information and offers on the products and services provided by Legal & General Financial Advice. You've chosen a and an initial lump sum of . This is a guide to the lifetime mortgage products we offer and not advice or a personal recommendation. PS – If you’re anything like us, you skipped to the end anyway. Equity release can provide a lump sum to help you pay off an existing mortgage, fund home improvements, help family members onto the property or just enjoy retirement. You can also provide your phone number if you’d like to opt in to receiving calls about our later life mortgages. Equity Release Calculator. Things to consider. As your management company covers buildings insurance within your service charge, you may need to contact them directly for a … Depending on if you want a drawdown over time or a lump sum for a new … Interest is charged on the loan plus any interest already added. 0800 028 2855 support@nationwideequityrelease.com Mon - Sun: 08:00 - 20:00 Home; Schemes. Income periods of between 10 - 25 years are available to meet your retirement income needs. There may be cheaper ways to borrow money. The loan is usually repaid when the last borrower moves into long term care or dies and your home is sold. Our phone number is 0 8 0 0 1 3 8 1 1 1 1. More2Life; Step Change; Key Retirement; Zurich; Nationwide Building Society Equity Release – likely mortgage holders. Equity Release Calculator. Allowing you to understand your maximum release and schemes available. We'll ask you to register your details to show you the calculation, then give you a call. Tweets by AskNationwide Tweets by NBSemployees. With release products, if you are over the age of 55, you can either borrow against the value of your home or sell all of it for a regular monthly income, a sum, or the facility to get at equity as and when you like or a combination of these options. The traditional equity release lenders; Canada Life and Legal and General have been joined by high street names such as Nationwide Building Society, Santander, TSB and Lloyds Bank. This is particularly a concern in areas where prices aren’t growing much. Though you've chosen a regular income, you have to take an initial lump sum of at least £2,500. To discuss our Lifetime Mortgages, a loan secured against your home, and if they're right for you. Entering into a lifetime mortgage or any kind of equity release may reduce the amount of inheritance you can leave for loved ones. An 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. A lifetime mortgage is a loan secured on your home. With equity release you don’t have to make monthly payments, unless you choose to, and the loan is usually repaid when the last borrower moves into long-term care or dies. Legal & General Home Finance Ltd is a member of the Equity Release Council, a trade body setting standards for providers. If you're a homeowner over the age of 55, then you could unlock tax free cash today. Our independent specialist advisers will explain. The plans we recommend have a no negative equity guarantee, so … Is Nationwide Building Society equity release safe? You can opt out of marketing at any time by emailing LGFAoptout@landg.com. You can't take out an equity release product unless you have taken financial advice. WA3 7BH Registered in England & Wales. Take a look at their consumer brochure for more details. It’s necessary to note that release is a way of releasing the wealth (cash) tied up in your property without the need to move. By providing your email address you're giving consent for us to send you emails with news, information and offers on the products and services provided by Legal & General Financial Advice. ⚠️(Spoiler**) Most send us a personal thank you because we do such an incredible job – you’ve been warned. To understand the features and risks of equity release schemes please ask for a personalised illustration. FCA no 584063. Equity release calculator. Once the fixed income term ends the monthly income will stop but interest will continue to roll up until the lifetime mortgage is repaid. If you need a regular income, after an initial lump sum, take a look at this option. This means the amount you owe will increase quickly over time. Details on how we process your information can be found in our privacy policy. We'll never share your details with third parties for their own marketing purposes. Instant equity release calculator shows immediately how much equity you could release. I live in an area where house prices are going up nicely so keeping 100% ownership of my own home is wise. Nationwide aside, most equity release products are from specialist lenders. Based on the information supplied, you could release the amount you specified: This is an estimate of the amount you may be able to release. As a reminder – equity release is a way of turning some of the value from your home into tax-free cash. Nationwide launches lifetime mortgage showing equity release is becoming more mainstream By The Bower Team / In Company News Nationwide Building Society launches their lifetime mortgage product with the vision to address the needs of an ageing population. Lifetime mortgages are regulated by the FCA, and … Retirement migration hotspots, Why you should be holidaying in the UK this Autumn, Why autumn is a good time to recharge and renew, If you want a joint lifetime mortgage use the age of the youngest applicant, Once you have your result you can keep using the calculator to see the different ways you could release the money. So, the amount you owe can increase quickly over time. Try our free Equity Release Calculator and receive a free guide. The amount you can release depends on your property and individual circumstances. How to use this calculator. You'll need to be living in (or buying) your own home with either a small or no mortgage. The option to take lump sums in the future is not guaranteed and will depend on whether you're still eligible to borrow more money. We’ve compared equity release providers below to help borrowers decide if they prefer to use a high street name or a specialist lender. You can receive the money as one lump sum or as a series of smaller amounts over time to suit you, You could get a fixed monthly income for a set period of up to 25 years. Buildings Insurance – An equity release lender will require a copy of your buildings insurance during the equity release application process. This lifetime mortgage calculator is a great tool for those looking to firstly understand whether equity release can raise enough money for their need(s). ⚠️ The information you've provided means that you don't meet the minimum eligibility criteria for the Income Lifetime Mortgage. Nationwide is the world’s largest building society as well as a top-three provider of savings and mortgages in the UK. We'll ask you to register your details to show you the calculation, then give you a call. If you would like us to email you our later life mortgages guide and further information about the products and services provided by Legal & General Financial Advice, please complete your full name and email address. Equity Release for older borrowers with no monthly repayments was exactly what I wanted, and the interest rate was very low. Nationwide Equity Release can be a very low-cost way of raising money against your home. please complete your full name and phone number. We aim to make our website as accessible as possible. If you're interested in a regular income, you can select this to be paid for a set number of years. Find out the maximum monthly income you could receive on this special type of lifetime mortgage. You can opt out of marketing at any time by emailing LGFAoptout@landg.com. Types of equity release schemes for existing mortgage holders. However, you don’t have to make monthly payments, unless you choose to. Details of how we process your information can be found in our privacy policy. We offer UK whole of market advice with no upfront fee and without obligation. That means you could receive a monthly income of up to for . This is an estimate of the amount you may be able to release. Company number 6553466. I'd like to take an additional lump sum of. Equity release is only available to those aged 55 and over. An equity release calculator enables you to determine how much money you can release from your home. Taking a lifetime mortgage could affect your eligibility for state benefits. Interest charges are often quite high, meaning the final amount owing could be huge – in some cases, large enough to wipe out any remaining equity in the home. To be eligible for a lifetime mortgage: If you'd like to discuss whether a lifetime mortgage is right for you, call one of our specialists on 0808 301 70440808 301 7044. If you'd prefer to take a lump sum, or a series of lump sums, and pay off some or all of the interest, this could be right for you. However if you use a screen reader and require debt advice you may find it easier to phone us instead. Discover Nationwide's suite of equity release products, services and calculators. Registered Office: Genesis Centre, Science Park South, Birchwood, Cheshire. Depending on how you need the money, you can receive it as a one off cash lump sum or as a series of smaller cash sums as and when you need it. If you’re aged 55 to 95 and own a home worth at least £70,000 of a standard construction, use our free equity release calculator to get a quick idea online of how much you could release. The loan to values are subject to change. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Calculate how much you could release * Denotes areas that must be filled in. Equity release is essentially like a long term loan. Find out how to access independent legal and financial advice. A lifetime mortgage is usually repaid when the last borrower dies or moves out of the home and into long term care. You can also provide your email address if you’d like to opt in to receiving emails about our products and services. There's an option to pay the interest off as you go. To speak with us about your equity release options, call the number below.For any other enquiries please get in touch via our contact us page, Monday to Sunday 8:30am - 8:00pmWe may record and monitor calls. Lifetime Mortgage. You may have cheaper ways to borrow money. Your home must be worth at least £100,000. You can only buy a lifetime mortgage through a financial adviser. So here’s the scoop – our intention is to help you by finding the best equity release provider so that you can spend the money on something that you really want to, rather than on a high tax bill. You can opt out of marketing at any time by emailing lgrroptout@landg.com. 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