Equity Release safety

Jasmine2302

I’m wondering what happens if a lender goes into liquidation, what do the creditors do?  Can they call in the loans?

That is, am I ever at risk of losing my house even if I have followed the terms and conditions?

Also, what happens if the lender business gets sold on?  Is my agreement still safe?

Equity Release is something I have thought a lot about and decided it is right for my family.  My only concern is external forces affecting my entitlement not to have to repay the loan whilst I still live in the home.

[Deleted User]

The book would be sold on, under the same terms.

MattMattMattUK

Jasmine2302 said:

I’m wondering what happens if a lender goes into liquidation, what do the creditors do?  Can they call in the loans?

That is, am I ever at risk of losing my house even if I have followed the terms and conditions?

Also, what happens if the lender business gets sold on?  Is my agreement still safe?

Equity Release is something I have thought a lot about and decided it is right for my family.  My only concern is external forces affecting my entitlement not to have to repay the loan whilst I still live in the home.

Equity release is normally not right for anyone's family, you should seriously reconsider what you are doing. 

Jasmine2302

Each to their own I suppose.  Thank you for your interest.

MEM62

If your loan is sold on the original terms and conditions should still apply.  @MattMattMattUK is quite correct - as far as financial products go, equity release products are generally awful and should be considered the last resort of the desperate.  

Jasmine2302

COULD THE MODERATOR PLEASE CLOSE MY POST.  THANK YOU.