We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
equity release (lifetime mortgage)
brickbrain
Posts: 1 Newbie
Hi All, New kid on the block with first posting.
We own our property outright, with no other debts secured on it. When attempting to release some capital through Equity Release, we were told that we can't do this as it is rented out. Is this correct?
We own our property outright, with no other debts secured on it. When attempting to release some capital through Equity Release, we were told that we can't do this as it is rented out. Is this correct?
0
Comments
-
If the equity loan is repaid on death. Then the lender has an issue if there's a tenant living in the property.0
-
You may be able to release equity by taking out a buy-to-let mortgage, but not a lifetime mortgage. As Thrugelmir says, lifetime mortgages are products designed for people living in the house themselves.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards