Help For Widow

MrsTinks

shining4 wrote: »

Hi Mrs Tine, I would rather she get a job, however, she does suffer from extreme anxiety and nerves and this is why my dad brought home the bacon so to speak and my mum stayed home. Maybe she will, but I think it would have to take a major change in her attitude.

With equity release, she appears to be swaying more that way, I would prefer otherwise, but it is ultimately her decision. What I would like to know is can you or anyone advise the best company bank/provider she could do this with (if she decided to) that is more likely to last through the current financial climate?

thankyou, thanks to everyone,

Kelly x

In this financial climate? Honestly? No...
ANY bank or building society could be next... and with them any of these "lovely" equity release thieves...
She would be better off selling the house and downgrading.

Could she do something like Avon, Betterware or similar?

Basically - your mum is under 60... The likely offer she will get from one of these companies is likely to be 30-50% of the house market value. Why? because she's under 60 (and therefor some may not wish to offer it to her at all!) and likely to tie their money up for anything like 20 years yet! She's a woman - statistical likely to live longer than a man. They will basically want her to pay rent as she's now little more than a tenant - can she afford that for the rest of her life??? Because guess what will happen if she doesn't pay it...

For details on all the various schemes with pro's and cons have a look here: http://www.unbiased.co.uk/financial-advice/finance-guides/mortgages/equity-release/

shining4

Thankyou MRS TINE and everyone else your input has been invaluable.

Kelly x