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Switch plan equity release calculator

If you have an existing equity release plan, use our switch calculator to see how much money you could save by switching to a lower interest rate.

Switching plans calculator



Why switch your lifetime mortgage?

Save money

Interest rates on lifetime mortgages are at an all-time low and if you took out your plan a few years ago, you can probably now switch to a better deal. Today’s equity release deals come with many incentives such as free valuations, cashbacks or no application fees – making switching as affordable as possible.

Access more money

If you are considering borrowing more on your current lifetime mortgage, you could ask your currently lender, however it may be advisable to take advantage of the latest interest rates. Therefore, if it’s in your financial best interests, you could repay your current plan and open a new one – borrowing more at the same time.

Use flexible features

The latest lifetime mortgages offer features and benefits that older plans don’t. So, if you are now looking to make voluntary repayments, or want the protection of a guaranteed inheritance or a downsizing protection option – switching to a new plan could prove to save your estate many £1000's over the long term.

Moving home

If you're moving home, the portability of equity release schemes means you can tranfer your existing plan across with you. However, it's always best to check beforehand whether taking out a new plan could actually offer a better deal - such as a lower interest rate, or one including the flexible options now available.


Our switch plan equity release calculator is easy to use. It helps you create personal scenario's where you can calculate how many years it will take you to ‘break even’ by switching plan, and how much money you could save over the lifetime of your equity release scheme.


Things to know about your results


The switch plans results shown in calculations are only for illustrative purposes and cannot be guaranteed. Interest rates are subject to change and can depend on location and how much capital is needed to meet your personal circumstances.

All results provided are calculated on a single life basis.
To understand the features, benefits and risks of a lifetime mortgage, please contact us and ask for your own individual, personalised illustration.