Lifestyles of the rich, retired and famous
Ever wondered which luxury items some of Britain's favourite home-grown celebrities could afford if they were to release equity from their home? With helicopters, super-yachts and even Necker Island making the list, they might want to consider looking into it!
Age Partnership have taken some of our most-loved celebs who are nearing retirement age, to find out how much money they would be able to release from their luxury properties.
Ruling the roost and topping the list is the nation's favourite icon – The Queen. Foxton's Estate Agents valued Buckingham Palace to be worth £2.2bn in 2016! Age Partnership have run these details through their equity calculator, which showed that Her Majesty could release over £1.2bn in equity, enough to buy over a million Corgi's!
In second place is ex-labour leader Tony Blair, whose property in Connaught Square would allow him to release £1,325,428 in equity – enough to buy a 33 metre yacht to sail around the world in!
Elton John and his family have properties dotted all around the globe, but it’s their UK Woodside home which could enable them to release up to £883,096 – enough to exclusively hire Necker Island for 2 weeks.
In at number 4 is This Morning's favourites Ruth Langsford and Eamonn Holmes, who sold their property on St George's Hill for £2.9million. If you're lucky enough to living in the same area (the current average cost of a house is £3,263,953) releasing equity could provide you with around £850K, enabling you to install a brand new swimming pool, sail around the world twice over, or even buy a (second-hand) helicopter!
Further down the list is the nation's favourite, Sir David Attenborough, who could release a cool £516,482 in equity, whilst our beloved Mary Berry could access up to £392,518.
Amount able to release
Eamonn Holmes & Ruth Langsford
Sir David Attenborough
Celebrities might not face the same financial struggles as your average Joe, but if they needed to, they could release huge amounts of equity in their lavish homes to spend on luxurious holidays, travel in style, fund movie projects, or even record their next album.
Equity release is a solution that lets over-55s access the money they have invested into property, to spend as they see fit during retirement. If you choose a Lifetime Mortgage, which is secured against your home, you continue to have 100% ownership of your home and don’t have to make any monthly repayments as the money is paid back when you die or move into long term care.
Anyone considering equity release should be aware that releasing equity from your home could affect the amount of inheritance that you can leave behind, and can potentially impact on any means-tested benefits that you may receive.
The amount that you could borrow using equity release will differ from lender to lender and may take into account age, health and lifestyle factors in order to provide you with an enhanced amount.
Interested in how your property measures up? Calculate how much equity you could release here.