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It's vital to be as informed on equity release interest rates as possible before applying for a lifetime mortgage.
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If your objective is to save money, then your new refinance rate should be low enough to offset the cost of acquiring the loan.
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At age 55 with perfect health, assuming your home is worth £200,000, the maximum equity you can release is £59,000.
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If you're interested in releasing equity to repay your mortgage in full, use the free online equity release calculator on this page.
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