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Changing equity release providers
silky60
Posts: 1 Newbie
I have POA for my elderly aunt and uncle. They took out £35k with Aviva in 2005 at 6.89% and now owes around £70k. Can we swap providers or get them to re do it at the current interest rates of around 3%?? If they continue they will not have enough equity left to buy an assisted retirement place which I reckon will be needed in the next 5 years. Can you advise please as this is criminal and I can't prove she knew what she was getting in to when they signed up aged 67.
0
Comments
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It maybe more than just the £70,000 debt that has built up.
Check the paperwork carefully as some have high exit fees on top0
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