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Equity Release/Mortgage
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TryingToBeFree
Posts: 10 Forumite

in Loans
Hi, not sure where the best place to ask this is, but I’ll give it a whirl. I’m under 40. I have no mortgage. I need a LOT of work doing on my house. Is there any way to do an equity release type thing? From what I can see, you can only do that when over 55. Any idea of the best way to release money so I can get things sorted and live in an actual house rather than a shell of a house? Thanks in advance.
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Comments
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Depending on the sums and the state of the house, a mortgage or loan.0
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House is probably worth about £100k-£110k at the minute. Possibly looking for around £15-£20k0
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For that small a sum, you'll be looking at loans or even credit cards if you can get good offers and have a clear repayment strategy.0
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My credit isn’t great to be honest although it’s built up a lot over the last few years, I can’t get loans from reputable companies. It’s all high interest places. An actual bank isn’t going to touch me I don’t think0
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If you have a terrible history, then savings is the way to go.0
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Sounds like a long haul plan but if that’s my only choice then that’s what I’ll have to do. Start saving those pennies!0
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TryingToBeFree said:My credit isn’t great to be honest although it’s built up a lot over the last few years,0
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Speak to a whole of market broker.0
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