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Why I haven't written a guide to the best equity release mortgage?
MSE_Martin
Posts: 8,268 Money Saving Expert
One of the most common questions I’m asked is “I'm retired I need cash, what's the best equity release scheme to get it out of my house?”
The reason I've never written anything is I've never yet seen a scheme I would be comfortable recommending. The best solution, unpalatable as it is, is to downsize if you can. If you are desperate the FSA has a guide here though for the moment I won't be writing anything I'm afraid.
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The reason I've never written anything is I've never yet seen a scheme I would be comfortable recommending. The best solution, unpalatable as it is, is to downsize if you can. If you are desperate the FSA has a guide here though for the moment I won't be writing anything I'm afraid.
Related articles:
MoneySaving House Selling Hints and Tips
Read all Mortgage/House Selling and Buying related articles
Click reply to discuss
Martin Lewis, Money Saving Expert.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.
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Comments
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Not everyones cuppa-tea, but the option I took was to have a lodger.
http://www.direct.gov.uk/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/TaxOnRentalIncomeArticles/fs/en?CONTENT_ID=4017804&chk=mGasop
Saves on downsizing expenses, and half the bills paid, own rooms , privacy as well.0
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