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Releasing equity in my parents house
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Thanks hun xxx;)margaretclare wrote: »Candygirl, I am sorry about your Dad.
Modern demographics say that someone who reaches the age of the OP's parents in good health has, barring unforeseen events and unfortunate accidents, a likelihood of reaching their century or more. One wonders just why they need this £150K - a lot of money.
I can't believe some people.
"You can't stop the waves, but you can learn to surf"
(Kabat-Zinn 2004):D:D:D0 -
I think what the OP means is, can they take out an interest-only mortgage, get £150k cash, pay the mortgage out of that cash and give "the rest" to the parents. How he would work out what "the rest" is, I don't know, since an interest-only mortgage is infinite.0
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