Our calculator will help you see how much value you can release from your home with one of our Lifetime Mortgages. Like any mortgage, it’s a loan you take out against your home. We’ll:
- ask you for a few simple details
- calculate how much you can get
- follow up with a call to answer any questions.
You can only buy a lifetime mortgage through a financial adviser. Our calculator is a guide - we can’t give you advice or make personal recommendations about which one’s best for you. Your financial adviser will be able to help with that.
Lifetime mortgage calculator
This calculator helps you see how much you could release with a lifetime mortgage, a loan secured against your home. We'll ask you to register your details so we can show you the calculation, then give you a call.
How to use our calculator
- For a joint lifetime mortgage, use the age of the youngest applicant
- Once you have your quote, you can keep using the calculator to see how else you could release the money.
Compare our Lifetime Mortgages
|Interest Roll Up Lifetime Mortgage
|Optional Payment Lifetime Mortgage
|Payment Term Lifetime Mortgage
|Minimum property value considered
|£70,000 or £100,000 for flats, maisonettes, ex-council, ex-housing association or ex-Ministry of Defence properties.
|How is the loan paid out?
|Lump sum or series of lump sums
|Lump sum or series of lump sums
|Minimum initial lump sum
|Minimum additional drawdown amounts for each release
|Drawdown not available
|Maximum loan amount
|Determined by your age and property value.
|Determined by your age, affordability and property value
|Is the loan secured against my home?
|When do I have to repay the full amount of the loan?
|The loan is usually repaid when you die or move out of the home and go into long-term care.
|How is interest charged on the loan?
|Interest is charged on the loan amount plus any interest already added, so the amount owed will increase quickly over time unless you pay off some or all of the interest. You may have cheaper ways to borrow money.
|Do I have to pay interest every month?
|No - but you can choose to make partial repayments if you want to manage the amount owed on the loan and interest.
|No - but you can pay some or all of the monthly interest to reduce the overall cost of the loan, and you can stop making payments at any time. If you choose to stop payments, you can't restart them.
|Yes, you must pay the full interest amount each month for a chosen payment term. This will reduce the overall cost of the loan and may mean that you are able to borrow more than with other lifetime mortgages.
|Will I still own my home?
|Yes, the property stays in your name and the loan is secured against your home.
|Yes, the property stays in your name and the loan is secured against your home. However, as a last resort, your home may be repossessed if you do not keep up with payments.
|Can I end up owing more than the home is worth?
|No. With our No Negative Equity Guarantee, as long as you follow the terms and conditions of the loan, you'll never owe more than the home is worth.
|The No Negative Equity Guarantee will not apply to any missed monthly interest payments and the interest on them. If the sale of your property doesn’t cover these, we’ll ask your beneficiaries to settle the balance.
|Is the interest rate fixed?
|Yes. The interest rate is fixed for the life of the loan.
Equity Release Council
Legal & General Home Finance Ltd is a member of the Equity Release Council, a trade body setting standards for providers.
Our Payment Term Lifetime Mortgage doesn't fully meet the Equity Release Council standards, because as a last resort, your home may be repossessed if you do not keep up with monthly interest payments, which isn't within their standards. Once you've reach the end of your payment term then your Payment Term Lifetime Mortgage complies with their standards.
Take a look at their consumer brochure for more details
Contact us about lifetime mortgages
To discuss our Lifetime Mortgages, a loan secured against your home, and if they're right for you.
Call us on:
0808 115 8129
Monday to Friday 9am - 6pm, Saturday 9am - 1pm.
We may record and monitor calls.
Get independent advice
You can't take out an equity release product unless you have taken financial advice.
Find out how to access independent legal and financial advice.