What percentage of equity can I release from my property?
As of November 2023, the maximum percentage equity you can release from your home is 50%*. For example, if you're aged 55, which is the minimum age for equity release, you can expect to release a maximum of 20%. Whereas if you’re an 83 year old, you could release a maximum of 50% of the value of the home
Generally the older you are the more equity you can release. Plus, according to the MoneyHelper, some equity release providers offer larger sums to homeowners with certain medical conditions.
Releasing cash tied up in your home involves taking out a Lifetime Mortgage. Therefore it’s not a decision to make lightly and should be considered as part of your overall financial planning needs. For example, if you have savings or investments, you may think about using these funds first. You could also consider downsizing as another alternative way of releasing some of the equity tied up in your home.