Equity Release

agal

Ian_W wrote: »

Not certain but I don't think you'd get a remortgage if the purpose was to supplement your income - OP doesn't say that is what is for though.

OP later posts that he wants the money for house maintenance/repairs - but this begs the question how would the mortgage company know what the purpose of the remortgage was? And why would they care if they are confident that the repayments can be met? I am guessing that another stumbling block might be the OP's age - isn't 55 too old for a mortgage?

Mr_helpful

55 not too old for mortgage but as he doesnt work so income may be, but pensions are perfectly acceptable for income. Depends how much he needs and whether its affordable

oldtom

Hmm....I get the impression that equity release isn't a very popular choice here then...

EdInvestor

Not at all, but it's designed for people a lot older than you.