lifetime mortgage/equity release

moose2

I have searched the site, but although there is quite a lot of posts on above, I just have a simple question: If you have taken out either of above are you happy with your decision?
It is such a big step, and I am trying to do it the correct way, IFA, lots of research etc etc., but when it comes down to the nitty gritty the only true way to know, is to speak to people who have done it.

koexelek

If you do one, it is your beneficiaries that will ultimately suffer, not yourself.

Equity Release should always be a last resort though.

The_J

They are great if you hate your kids.

koexelek

The_J wrote: »

They are great if you hate your kids.

... and it's even tougher on them if you have died without telling them you did one

foreversummer

But hang on, what if you love your kids dearly but they are doing alright for themselves. They are not selfish and are very happy for mum and dad to live comfortable in their old age on the money they have worked hard for.

Not everyone expects an inheritance, surely.

Thrugelmir

foreversummer wrote: »

Not everyone expects an inheritance, surely.

Judging by the posts on here many do. When it comes to mortgage issues in later life for their parents.

Even down to mis-selling of products on the grounds that their parents didn't know what they were doing. When so obviously they did.

moose2

foreversummer wrote: »

But hang on, what if you love your kids dearly but they are doing alright for themselves. They are not selfish and are very happy for mum and dad to live comfortable in their old age on the money they have worked hard for.

Not everyone expects an inheritance, surely.

I do not want to say to them as A: do not want them to feel they have to help us out. B: am more likely to go for a lifetime mortgage, and will only take what is absolutely necessary...surely the housing market will recover, we are thinking 5 to 7 years.