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Equity Release Info Please

jimmle123
jimmle123 Posts: 3 Newbie
in Mortgages & endowments
Can anyone out there shed any light into a question that no equity release Q&A's answer?!

We are considering a lifetime mortgage to release the money that is tied up in our home. We are currently mortgage free on the house.

We want to know could we rent out our house once we have 'equity released' it under a lifetime mortgage as we spend 6 months of the year away?

Any help would be great!

Thanks.

Comments

  • CharlieBradley_2
    CharlieBradley_2 Posts: 7 Forumite
    I wouldnt imagine this to be a problem, however I do not deal with equity release, but I would assume it will depend on the lender you do the equity release with and what their criteria is.
    I am a Mortgage Adviser
    You 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.
  • churchrat
    churchrat Posts: 1,015 Forumite
    Where do you plan to live when you are back in GB for 6 months?
    LBM-2003ish
    Owed £61k and £60ish mortgage
    2010 owe £00.00 and £20K mortgage:D
    2011 £9000 mortgage
This discussion has been closed.
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