My property is worth
My outstanding mortgage is
Outstanding secured loans
Based on the details you entered the amount of equity you are likely to have is:
Now you know how much equity you have, find the right mortgage for you.
The calculation is based on how much your property is currently worth, the outstanding amount on your mortgage and any secured loans that you have. The amount of equity shown is only a guide and to get a more accurate calculation you will need to know the exact value of your property, the amount left to pay on your mortgage and any secured loans you have left to pay off.
Use our mortgage equity calculator to work out the equity in our home and then check if you can get a cheaper mortgage or release money from your home.
Enter how much is left on your mortgage balance. You can check your balance by asking your lender, checking your last statement or by signing in to your account on your lender's website.
Enter how much you owe on secured loans, if you have taken any out.
Click "Calculate", and we'll show you how much equity is in your home.
You can get help working out your mortgage balance and how much your house is worth here.
Equity is the value of how much of your house you own. For example, if your mortgage balance is £150,000 and your house is worth £200,000, you have £50,000 equity in the property.
If you sold your house for £200,000, you would use £150,000 of this to pay off your mortgage, and you could keep the remaining £50,000 or use it towards buying a new property.
Your equity is made up of the deposit you paid towards the house purchase and any of your mortgage you have paid off. It should keep going up until your mortgage is paid off; you then have 100% equity in your home.
The easiest way to see how much lenders are likely to let you borrow is by using our calculator.
If you need a more precise figure, you can ask individual lenders or talk to a broker to see what you could borrow.
Once you have used our equity calculator, you can use money.co.uk to:
Find a cheaper mortgage for your current property
Release equity from your home
Get a mortgage for you new home if you move house
To find the best mortgage, you need to work out the loan to value (LTV) you'll need. This is the percentage of the property's value your mortgage covers.
For example, if you have £50,000 equity in a £200,000 property, your mortgage would be for £150,000, (75% of its value). You would need to look for a 75% LTV mortgage.
When you remortgage, you get a new mortgage on your current home without moving. If you can find a cheaper deal, you could save money.
Once you have used the above remortgage calculator to work out your equity and LTV, you can compare remortgages and apply for a new one.
If you used our calculator to work out how much equity you can release from your house, you can compare equity release mortgages here.
You can also try our equity release calculator provided in partnership with our broker Responsible Equity Release.
You can use them to borrow a lump sum from the equity you own in your property, but they can be expensive. Here is how equity release mortgages work.
You can use the equity in your home plus your savings as the deposit when you buy a new house.
For example, if you have £50,000 equity in your current home and want to buy a new house for £200,000, you would have a 25% deposit.
This means you can look for 75% LTV mortgages, which are usually cheaper than mortgages with a higher LTV.
Last updated: 11 October, 2021
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