Equity Release, can I lend on these terms?

Orla99

I'm looking for advice. My father-in-law and his second wife took out an equity release loan a few years ago on a house they owned 50/50. His wife died last year and her estate (50% of the house) will go to Charities when my father in law dies, until then her estate is 'locked'. I'd like to pay the equity release loan off but I don't think it would make financial sense as her estate would benefit equally and paying it off would really stretch me. Is it possible for me to take over the debt in a way that I pay off the lender but draw up a contract under the same terms as the original lender so I in effect become 'the bank' and amass the interest. In theory, my father-in-law and his wife's estate would still have the same deal they have now, only difference would be instead of the bank gaining interest it would be me. Anyone still with me? Is is possible/legal? Are there further complicated inheritance tax implications?

Many thanks.

doitmyself

I know it's late and I've had a drink but this has to be the most difficult conundrum Ive ever seen. Thx in advance for the sleepless night...

nicecarkeys

What about a mortgage on the property?