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Freeing Up Some Money.
shezza2
Posts: 201 Forumite
Hi all, not sure if this is the right section but my question is, I finnished my mortgage somtime ago and am coming up to retirement next year. We have no family to leave our property to so we woud like to release some money from it. Which is the best option?
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Comments
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I don't think this is the right section, admin may move this. Equity release tends to be a bad idea for most people. Unless you die within a short period of time, the interest you pay is very high, and as you are jsut approaching retirement they will probably want your entire house for a small payment of perhaps 25% of the current value. If you are willing to move, downsizing and freeing up equity would be my advice.0
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