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Equity release
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This discussion was created from comments split from: Equity release.
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Husband left me after 31 years i need to find 22.000 is equity release a good option for me or do they do loans added on the house. It's am 63 and on pip and esa I don't work0
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I have split this out as it is very specific to your situation. It will also do better in a different boardI’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
There are products such as lifetime mortgages and retirement interest-only mortgages. Interest can roll-up or interest can be paid with the outstanding balance being repaid from the sale proceeds on death or the need for residential/nursing care. Get specialist advice on such products from an IFA or Mortgage Broker with extended permissions.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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May be worth talking to Step Change Financial Services to get an idea of what options may be open to you, they do not charge you for their services so there is no need to pay anything just to get some idea of the products available to you and they can cover Equity Release, RIO and other mortgage products..There are a lot of questions we could ask to give more direct suggestions here, but it may be better to talk to someone like Step Change and then come back here if you still have questions about what they are suggesting.
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I was wondering do all Equity release brokers use the same house valuation companies?
I know age partnership uses e.surv Chartered Surveyors just wonder if they all use this company.0 -
No.
Lenders (not brokers) use different survey firms in the ER market, just as they do in the mainstream market.
Countrywide
Connells
Esurv
Legal & General Survey Services
SDL
are the main ones.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.1
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