The amount of money you can release through and Equity Release scheme depends predominantly on the value value of your property and your age. The older you are the more Equity you can release, but typically someone aged 55 may be able to release equity of up to 15% of the value of their property whilst someone in their 70's may be able to release equity of over 40% of their property value.

So based on a property value of £150,000 a 55 year old may be able to release equity of  up to approximately £22500, whilst a 75 year old may be able to release equity of up to £60000!

Due to the flexibility of some of the Equity Release schemes the full amount does not need to be taken all at once and smaller amounts subject to a minimum of £10000 can be taken if the full amount available is not required. This is drawdown type Lifetime Mortgage Equity Release scheme and whilst being very flexible, it can save a considerable amount of interest charges over the long term as the funds can be drawn down as and when required.