Equity Release

Duncsn

I am a co executor of an estate . The house to sell has an equity release element. The Mortgage Lender Legal and General decline to suspend interest rates during this crisis. What can I do to make them change. Beneficiaries will be disadvantaged otherwise 

SeanG79

No one is suspending interest, they are deferring payments but still accruing interest during the deferral. Why should L & G be disadvantaged during the crisis?

MovingForwards

As them nicely and remind the beneficiaries it's nice of the deceased to leave them anything.

It's always a risk when doing equity release that the property will not sell quickly or for the price hoped, interest keeps getting incurred the longer it takes to sell and sometimes there isn't enough to pay back the money and that involves additional work and delays.

I always used to say to people, never spend the money before you got it, never plan for the money until everything is cashed in and paid out as there may not be the amount they thought.

dunstonh

The Mortgage Lender Legal and General decline to suspend interest rates during this crisis

Why should they?  Equity release is not impacted by affordability difficulty for consumers.

Beneficiaries will be disadvantaged otherwise 

The Coronavirus mitigations are there to help affordability for people in dificulty.  Not to increase the inheritance to some money grabbing beneficiaries.

Actually, having said that, I now suspect your post is an attempt at irony as surely no-one can honestly be that moneygrabbing.