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Equity Release
Az589
Posts: 1 Newbie
Hi, I'm a bit of a dilemma. I need to release some equity about £60K.
I have a property worth approximately £280k with a mortgage of £180k.
Currently I am not working so I cannot remortgage.
I would like to know what options I have to release this equity.
As far as I can do is Q1: to sell the property.
Q2: if I borrow money from a relative can I put a condition if I sell the property they will get there money back in the future.
Any other options advice. Please help.
Thank you.
I have a property worth approximately £280k with a mortgage of £180k.
Currently I am not working so I cannot remortgage.
I would like to know what options I have to release this equity.
As far as I can do is Q1: to sell the property.
Q2: if I borrow money from a relative can I put a condition if I sell the property they will get there money back in the future.
Any other options advice. Please help.
Thank you.
0
Comments
-
Q2; yes. Get it a loan agreement done by a solicitor and a second charge put on the house.0
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