Search engines are designed to give you the results you request, but how you phrase that request is imperative. A search using equity release calculator UK will provide better results than leaving the UK part off the phrase. In fact, you might come across examples from Australia or the US if you do not put in the UK. This is because other countries offer equity release products called reverse mortgages, which are similar to the UKs. Typically, equity release calculators UK will offer results in sterling as the market is exclusively in the UK. This is of course if you search for UK results. Several websites provide such tools; before getting into this you should understand the popularity of equity release schemes. The Equity Release Council just released new figures.

The Proof of Popularity
The Equity Release Council published results for 2014 while looking back at 2007. The market has shown the busiest time since 2007 based on quarters. The year is obviously set up in quarters, which are assessed economically for growth, product demand, and financial changes. When examining 2014, there was a 32% year on year growth. The council stated in Q2 of 2014 lending for equity releases was approximately £325.6 million. This is the most seen since 2004s Q4. There are indications that the first half of 2014 will top £641 million, making it the largest half total in the first half of the year on record. Approximately 10,000 new equity release consumers have entered the market in 2014.

Reasons for Sudden Interest
There are plenty of reasons for there to be renewed interest in the market. The first comes from the recession. The second is baby boomers. There were two recessions which means those entering retirement or in retirement had to face dropping interest rates, which took away most of the savings interest accrual they made on certain pension accounts. These recessions also played havoc with the stock market so any investments in fund, currency, or stocks meant a reduction in investment versus a gain.

The other half of this situation is baby boomers. The Second World War produced a significant amount of children once the fighters returned home. Facing reality created a population growth. It happens and it also means these children are now reaching retirement age. It puts more of the older generation out of the workforce and thus in need of solid retirement plans.

As retirement pensions and investments have been raked over the coals, retirees need a new plan for being cash poor. They have turned towards equity release and the possibility that the maximum equity release amount can help them find a better or happier retirement with fewer monetary worries.

Enter the ER Calculator
The equity release calculator UK tool supplied online makes it easier for retirees to see their potential options, which may also be a reason for increased interest. Being able to understand whether the product is affordable, if the maximum equity release amount is going to cover expenses, and compare current market products, ensures retirees of the product before they have to talk with a broker.

Working the Calculator
There are actually different calculators for the products on the market. You will want to find the proper one for the lifetime mortgage or home reversion you are interested in. Home reversion is a home sale, while lifetime mortgage is a loan to be repaid. Make certain you understand the product differences before you start using the calculator to feed you results.

Also keep in mind these calculators are providing estimated results. It is a quote and not a reflection of actual money you can obtain. Each person’s case will be different, due to their age and home valuation. Once you are through the process, an exact number is attained. The idea behind the tool is to give you an estimation of the potential.

You must be at least 55 years of age to obtain a lifetime mortgage and 65 for home reversion. The older you are the more funds you can access in equity from your home. The premise is the older you are the lower life expectancy you will have. As you age you get closer to death. It might not be poetry to say it in this way, but it is the simple truth. Financial institutions look at how long it takes to receive their investment back and make money. Therefore, the equity release calculator UK is designed to look at your age, plus the value of your home, as this indicates how much equity you actually have.