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don walker

property ecquity release

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hi, has any body had any thing to do with  ecquity release  I am not asking for any personal info just any info that you might have heard from friends neighbours etc.  I am attempting to get my head around it thanks

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As I have no heirs I have briefly looked at it. I am not going to leave the house to anyone so I am going to have the money for me!  Key Retirement, that are always advertising on the tele are the biggies but I had better advise, and I felt better generally dealing with The Age Partnership. They all seem to be affiliated with Aviva, who are also advertising on the tele now. The percentage that you can take out increases the older you are or special arrangements can be made if you are terminally ill. I am neither terminally ill or do I feel old enough yet to do it so I have gone no further.

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If you've no-one to leave it to then it's a matter worth considering. As long as you can be guaranteed security of tenure for your remaining years then you might as well reap the benefits of the investment in your home. Obviously it will be less than the property is worth. Shop around and see what offers you get. Although there will be a fee it would be well worth seeking the advice of an independent financial advisor.

 

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hi Ihave had advice 1was going to have about 30.000 there is plenty of ecquity  property value is about 400,000 Ihave 2 sons ,,over about 24 years the debt would rise to about 70-80 thou  I have shopped around and got the % interest down from 5.4 to 4.29 with Aviva its right what you say most of them are weeing in the same pot

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Same spivs that sold you the money to buy your home.

 

Now want to get it back off you for buttons.

 

Your shout.. but...

 

Seriously.. if you need cash, is there any legal way you can get your kids to provide it in exchange for all of, .. a share of.. your property?

 

I don't know the answer.  Just asking.

 

I have very little cash money.  But then I owe nobody.

 

My kids don't expect to inherit my house.  It will be nice if they do... but they aren't counting on it.

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