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Equity Release
Clouded2
Posts: 1 Newbie
I keep reading and seeing on TV adverts with regard to Equity Release.Each adverts states you will always own your own home.Is it possible to lose it all?Surely you can only raise a certain percentage of it and keep the rest in your name.Should it not say you will always own part of your property even after you pay back your loan.Is it misleading?I think so.How can I work out what might be left of my heritage to my family?
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Comments
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Is it possible to lose it all?
noSurely you can only raise a certain percentage of it and keep the rest in your name.
The property remains in your name. You just get a charge against the property like a normal mortgage. You are capped on what you can borrow.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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