The development of the internet has had a huge impact on almost every industry. More and more companies and consumers are using the internet for even major purchases and making important decisions. A great number of companies in the financial sector have harnessed the power of the internet, which has allowed online companies to offer exciting deals on a variety of financial products. Even specialist areas such as equity release have benefited from this expansion and many companies both on and off line offer solutions which have been specifically tailored to the over fifty-five market. Although specialist advice is necessary, there are a number of useful tools provided such as the Stonehaven equity release calculator, which allows consumers to make initial research on whether equity release would suit their requirements.
• Why are online calculators needed?
While many people are aware of the general borrowing rules surrounding conventional mortgage products, equity release schemes such as lifetime mortgages have different restrictions. Tools such as the Stonehaven equity release calculator allow home owners to discover whether the limitations of equity release schemes would provide them with sufficient funds for their requirements. Many home owners are unsure whether they can release sufficient equity to provide a lump sum or income and cover the full repayment of their current mortgage or debt. The calculator will provide an illustration of the maximum equity release possible, which can assure the home owner that is worthwhile taking the time to consult an equity release adviser or broker.
• Are the calculators easy to use?
There are a number of different equity release calculators available. The use of these can vary according to the specific website. However, there are a number of calculators which have been specifically designed to provide great ease of use. For example, the Stonehaven equity release calculator is remarkably easy to use. It is perhaps one of the easiest calculators on the lifetime mortgage interest only market. By collating your details, it can assist in finding the Stonehaven plan which would appear to be the best suited to your requirements. This simple to use tool can provide a very fast response to your enquiry.
• What information is needed for the calculator?
The calculator will normally require the information required by the providers to make a decision. This will include details such as the age and current health of the applicant or applicants, the geographical location and estimated value of the property and any debts which are currently secured on the property such as an existing mortgage. It is important to enter the details as accurately as possible in order for the calculator to provide the most relevant information. The Stonehaven equity release calculator will collate the data accrued with the asked questions and display a number of potentially suitable results including different rates of interest, interest options available and the options for lump sum payments. You will then have the opportunity to further research the options by selecting them according to your attitude to the interest rate or release of equity limitations to highlight your potential solution.
• Are the calculators free to use?
Most calculators are very easy to use and are provided free of charge. This can allow home owners great control to explore a number of options to decide if they think they may be interested in learning more about equity release and whether it is suitable for their requirements. There are a number of prominent companies which specialise in equity release and offer online tools to aid their potential clients such as the Stonehaven equity release calculator. You can utilise these tools to assess whether equity release is feasible for your current financial circumstances and whether you meet the required criteria for the schemes offered by the provider. This can be extremely helpful to save time making adviser appointments or speaking to brokers, if you discover that you don't meet the age criteria or would be unable to satisfy your requirements with the maximum possible release. With the availability of the internet, these helpful tools can provide enough information to encourage home owners to seek out the further assistance to locate the option which is best suited to their requirements.
The internet has encouraged a great number of providers to offer equity release schemes. This increased competition has been extremely beneficial for consumers who may now be able to secure a deal with a highly competitive interest rate. The tools offered such as the Stonehaven equity release calculator can allow consumers the ability to seek out the best interest rates and provide additional information which can assist in their ultimate decision.
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