Equity release schemes.

ZTD

Justindebt wrote:

Well, I agree no one knows about where house prices are going but it is a fact that supply cannot keep up with demand these days so even if they aren't to keep rising at the present rate, it is hard to see how decent houses in desirable areas would fall significantly in value, if at all.

Because of debt. If you are considering "releasing" equity, how many other people out there are considering (or being forced to) selling to clear debt? Prices are set at the margin, and so you are reliant on thousands of other people managing to keep their finances in order, so that your house be valued like it is.

For general interest/consumption: long term may not be so guaranteed after all. "When the population of the UK starts declining, for the first time in centuries the outlook for house prices is at best uncertain." The old game is dead. Welcome to the new game.

cleanyspringy

HI sorry to sound stupid but was looking into an equity release for my folks the other day as apposed to a remortgage.

An equity release is dependant on your the age of the youngest person named on the mortgage. They then work out the Loan to Value on a scale te youngest that you can be for an Equity release is 55 i believe.

From what you have said and reading the replies to the posts I would think that a remortgage would be the btr option. If oyu pm me i can give u the name of the company that I spoke to if thats any help? I wouldnt want to put the name on here in case i get shouted at and these guys on the forums have been so good to me helping me sort out my divorce and finances at the age of 25!:rotfl:

lynzpower

Cleanyspringys right. its not a equity release unless you are over 65 ( i think) its a second mortgage, or secured loan. there is a difference im not too sure what it is