Use this lifetime mortgage calculator to see roughly how much equity you could release from your home and how the loan grows over time when interest rolls up. It also shows the monthly interest if you chose a retirement interest-only (RIO) mortgage instead. No personal details are needed.
Your lifetime mortgage
- Rough maximum release
- –
- Loan after those years
- –
- Equity left
- –
- Interest a month if paid (RIO)
- –
| Loan | Home value | Equity |
|---|
In the example, a 65-year-old with a £350,000 home releases £80,000 at 6.5%. With interest rolled up monthly, the loan grows to about £211,536 after 15 years, while the home, growing 2% a year, would leave about £259,518 of equity.
How to use the lifetime mortgage calculator
- Enter the age of the youngest borrower. You must usually be 55 or over.
- Enter your home value and the amount you want to release.
- Enter the interest rate, which is fixed for life on most plans.
- Choose how many years to project and a house price growth rate.
How a lifetime mortgage works
A lifetime mortgage is the most common type of equity release. You borrow against your home, keep owning it, and usually make no monthly payments. Interest is added to the loan and compounds, and the loan is repaid when you die or move into long-term care, normally from the sale of the home.
Plans from members of the Equity Release Council include a no negative equity guarantee, so you will never owe more than your home is worth, and the right to stay in your home for life.
Roll-up interest examples
| After | Loan owed | Equity left |
|---|---|---|
| 5 years | £110,625 | £275,803 |
| 10 years | £152,975 | £273,673 |
| 15 years | £211,536 | £259,518 |
| 20 years | £292,516 | £227,566 |
Because interest compounds, the loan roughly doubles every 11 years at 6.5%. Many plans let you make voluntary payments of up to 10% a year to slow this down. Try it in the lifetime mortgage calculator by lowering the amount you release.
How much can you release?
The maximum depends on the age of the youngest borrower and, with an enhanced plan, your health. As a rough guide, people in their mid-50s can release about 25% of their home value, rising to around 45% to 55% in their late 70s and 80s. The calculator shows this rough guide, but each lender sets its own limits.
Retirement interest only mortgage calculator
A retirement interest-only (RIO) mortgage is different: you pay the interest every month, so the loan does not grow, and it is repaid when you die or move into care. The calculator shows that monthly interest. Lenders check you can afford it on your pension income.
Before you decide
Equity release reduces what you leave to your family and can affect means-tested benefits. You must take advice from a qualified equity release adviser. Consider downsizing, or compare with an interest only mortgage.
Lifetime mortgage calculator: three ways to use the money
- Clearing an interest-only mortgage that has reached its end date, so you can stay in your home.
- Helping family with a house deposit, which can also reduce Inheritance Tax if you live 7 years.
- Home improvements or care costs, such as adaptations to stay independent.
A drawdown lifetime mortgage lets you take a smaller amount first and draw more later from a reserve. You only pay interest on what you have taken, which keeps the debt lower. Try a smaller release in the lifetime mortgage calculator to see the difference over 15 or 20 years. If you need income rather than a lump sum, compare with the annuity calculator.
Frequently asked questions
How much can I borrow on a lifetime mortgage at 65?
Typically about 30% to 35% of your home’s value, more with an enhanced plan if you have health conditions.
Is there a lifetime mortgage calculator with no personal details?
Yes, this one. It runs in your browser and does not ask for your name, email or phone number.
Can I move home with a lifetime mortgage?
Plans that meet Equity Release Council standards let you move to a suitable new home and take the plan with you.
What happens if house prices fall?
With the no negative equity guarantee, the amount owed can never be more than the sale price of your home.
About this calculator
This lifetime mortgage calculator uses monthly compounding and a rough age-based guide to release limits. Guidance was checked against the MoneyHelper and Equity Release Council websites on 9 November 2026. It is not a quote.