secured loan if not working

blondie1982_2

My mum is after a secured loan on her property of £14000. She has a £250,000 house where the mortgage is paid in full.

She doesnt not work.

Would she get a secured loan do you think?

skintandscared_2

What would she use to make the loan repayments?

We looked into how my retired parents could release some capital from their paid-up property and the only thing that looked remotely viable was an equity release scheme, which they thankfully soon disregarded as it's a financially ridiculous thing to do. The only way they've found to release equity from their property is by selling up and buying somewhere cheaper.

blondie1982_2

Hiya

Not sure really, I am guessing the her late husbands pension that she gets. What do people that are not retired live on? I actually have no idea!

She is 54, doesnt work because she has ME, but doesnt get any benefits or anything for it.

CLAPTON

why does she get any benefits?

you need to find out about her pension (if any)

skintandscared_2

She would need to show a guaranteed annual income of about £30k to get a loan for £14k.

I'm puzzled as to what your mum has been living off if she doesn't get any benefits. Surely she is too young to have a pension (unless it's a private one with an earlier start date?)