2nd mortgage or Equity release?

annkirk0975

What are the experiences of the group on Equity release? Is it better to look at a 2nd mortgage instead? Are they legit?

Don't want to downsize to get money, no mortgage and don't have family to leave to so paying back the ER would not be an issue. 

Just looking at all the options.

Thanks

[Deleted User]

Equity release has minimum age limits but if you are old enough to do it and your circumstances are as they are, you can do it but they are hideously expensive with compound interest

If you are not working, you may or may not get a mortgage based on pension income, depends how old you are too as some will not lend to people except on a short term 

Dobbibill

What are you looking to fund with the money? 
The good forumites here may be able to suggest alternative methods.