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Equity Release
Roger_Britton
Posts: 1 Newbie
:eek: Whats the story on equity release. Is it good or bad?
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Comments
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In principle it's fine as long as you go through https://www.ship-ltd.org. Downsizing is a better approach.This is if you are the person raising the cash.
If you are planning on inheriting the property later you might not like it so much.Trying to keep it simple...
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If you have no one to leave anything to, and you need some cash, it's a good thing.....as the value of your estate will be irrelevant when you die.
If you do have people you want to leave your estate too though, it is not so good, as their inheritance will be severely eroded.I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Be aware that some retired folk treated their houses as cash machines, but can no longer do this as they have reached the maximum LTV.
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dezbroatch wrote: »I believe it can be a positive choice. Releasing equity in your property can help people to achieve financial security and peace of mind during retirement. I found this website helpful when researching the subject.
http://www.agepartnership.co.uk/
A 1.5% advice fee is a bit steep thoughI am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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