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Remortgage equity calculator
See how much cash a remortgage could release from a property you let, and what it does to your monthly payment.
Questions
Is this the same as equity release for over-55s?
No. This works out a buy-to-let remortgage: a bigger loan on a property that has gone up in value. Equity release for over-55s (lifetime mortgages) is a different, regulated product that needs specialist advice.
How is the cash worked out?
The new loan is the value now × the new loan to value. Take away what you owe, and the rest is the cash released, before the lender's, valuation and legal fees.
Will the lender agree?
The rent still has to pass the lender's stress test on the bigger loan, so the amount you can release may be lower. Ask a broker before you count on it.
More terms explained in the glossary.