This is a simple equity release (or reverse mortgage) calculator that considers an initial lump sum equity release and/or regular (monthly/quarterly/annual) equity receipts thereafter. The idea behind a reverse mortgage is that a homeowner may have an (estimated) amount of equity (over and above any pre-existing mortgage or borrowings) locked up in the value of their home. Regarding how the interest is calculated, (i) the initial sum is compounded on an annual basis at the annual interest rate input by the user;(ii) the future value of the regular equity releases is calculated on an annuity basis using a series of regular (monthly, quarterly or annual) payments at the relevant interest rate (annual rate/12, annual rate/4 or annual rate respectively).PLEASE NOTE that your use of this calculator is at your own risk and should not be construed as financial advice.

Equity Release (Reverse Mortgage) Calculator alternatives

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