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Be financially aware
Lifetime mortgages are secured loans. Compound interest means the amount you owe can grow quickly. Equity release reduces your estate's value and may impact means-tested benefits. It may leave little or no property equity, reducing future financial options.
You can use our free lifetime mortgage calculator in 3 easy steps:
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Fill out basic details about yourself and your property
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Press the 'calculate' button
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See your personalised lifetime mortgage results
How much could I release using Key's lifetime mortgage calculator?
Key lifetime mortgage customers had access to £91,819 on average in Q1 2025.
The amount you can release is a percentage of your home's value (loan to value, or LTV). This varies between people and properties and is personal to you. The lowest amount you can release is £10,000.
Try our lifetime mortgage calculator to quickly see how much you could release from your home.
Our lifetime mortgage calculator uses two things to work out how much you could release:
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Age: If you apply as a couple, the youngest applicant's age will determine how much you could release
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Property value: A higher value usually results in a higher lifetime mortgage release
To be eligible for a lifetime mortgage, you must be:
- Aged over 55 (including the youngest applicant)
- A UK homeowner with a property worth at least £70,000
ⓘ Not eligible yet?
Try our later life mortgage finder. We could still help you take control of your later life finances.
What are the typical lifetime mortgage interest rates?
Lifetime mortgage interest rates vary depending on your plan and circumstances. They're fixed for the life of the equity release plan.
Representative example
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AER stands for Annual Equivalent Rate. It shows what the interest rate would be if the interest compounded each year.
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APR stands for Annual Percentage Rate. It's the cost you pay each year to borrow money, including fees, expressed as a percentage.
Lifetime mortgage interest is calculated by multiplying the loan you have borrowed by the lifetime mortgage rate agreed upon within your equity release plan. Because of compound interest, you will pay interest on the loan as well as any interest that has already been added to the loan.
Learn more about compound interest
Why use Key's lifetime mortgage calculator?
Key is a specialist, award-winning later life mortgage provider for the over 55s. We've helped over a million customers see if equity release was right for them. After we take the time to understand your needs, we'll recommend the most suitable later life option for you.
Lifetime Mortgage Customer Reviews
Don't take our word for it - see what our lifetime mortgage customers are saying...
Michael and Carol
64 & 63, approaching retirement
"All the worries and the stresses have gone now. We can just look forward to having a nice relaxing retirement…We’re planning to go away on a couple of cruises."
Read more on Michael and Carol
Watch more of our customer stories
Read more on Michael and Carol
Watch more of our customer stories
Try our lifetime mortgage calculator today
Your other options with Key
If another product is more suitable, we'll refer you to a different specialist adviser within Key Group who can help. If you go ahead, you'll never be charged more than our standard fixed advice fee of £1,699, even if their fee is higher. Key offers alternatives to equity release such as a retirement interest-only mortgage or retirement repayment mortgage.
Other options to think about
It's important to know your other options before going ahead with equity release. These include: downsizing, unsecured lending, using existing assets, or support from friends or family.
Lifetime mortgage articles
Read our RetireWise articles to learn more about how a lifetime mortgage works and if it's right for you.
Page last updated: Monday 03 March 2025