Mortgage paid off, now what?

littlesarav

My husband and I aren't sure where to get the help we need.
Last year our mortgage was paid off through our critical illness cover, I have multiple sclerosis. We would like to do some work on our house. We've got prices for a conservatory and a kitchen. There are other things on our list too.
We would like to borrow around £40,000
Everyone we have spoken to, including the banks have asked us for details of our mortgage. As soon as they realise we haven't got one they can't help.
Who do we go to for this amount of money. Do we need to take on a mortgage? We 'd like to take on a loan but people are reluctant to help.
Any ideas? This is my first post. We're at a total loss!
Thanks

Rafter

You will find it almost impossible to borrow that kind of money 'unsecured'

You need to look at a mortgage again or some type of equity release product.

It will really depend on your income, age and other details about what is the best option for you and also whether you are happy to give up some of your home in return for the improvements you are proposing.

I suggest you try to find an independent financial advisor who specialises in equity release or non-standard products. Just walking the high street isn't going to help as this is quite a specialist area.

R.