Created in response to adviser feedback, the calculator offers a fully customisable tool to demonstrate the cost of borrowing of one or more products for later life or mortgage deals.
Under the latest developments, advisers can compare up to four different borrowing scenarios side by side while viewing comprehensive forecasts that incorporate house price index data, the property’s value, initial borrowing, interest rates, fees, and payment options for accurate projections.
The calculator also offers a flexible term display and a payment strategy simulation that allows advisers to model optional, mandatory, interest-serviced, and interest-only payments.
Additionally, future equity release drawdown forecasting enables advisers to simulate delayed borrowing to minimise interest roll-up. The tool also gives advisers the ability to stress test interest rates by inputting variable rates for future lending to illustrate risk and resilience in different market conditions.
The calculator allows advisers to produce clear graphs and tables for client presentations, with options to print or save as a PDF for compliance and record-keeping.
Aldermore Insights with Jon Cooper: Edition 4 – Budget 2025: Landlords feel the heat, brokers to steer the market
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Daniel Edmondson, senior strategic partnership manager at Advise Wise, said: “Finding the right solution for consumers begins with having meaningful conversation. We’re pleased to be offering advisers with new tools to be able to demonstrate the available options to their clients, to help them make informed decisions on how to achieve their financial goals in a way that works best for them.”
Earlier this month, a report found that around 63% of customers taking out a new equity release plan had done so primarily to repay an existing mortgage.
