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Equity Release for residential property near commercial property - which lenders are most flexible?
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Hi,
My ageing father would like to do equity release to purchase a standard construction bungalow on a large housing estate near a large supermarket for probably 40% LTV; the lender we had expected to say 'yes' without difficulty said no due to the proximity of commercial premises (the supermarket). looking online this appears to be a common restriction...
My ageing father would like to do equity release to purchase a standard construction bungalow on a large housing estate near a large supermarket for probably 40% LTV; the lender we had expected to say 'yes' without difficulty said no due to the proximity of commercial premises (the supermarket). looking online this appears to be a common restriction...
While we could look for another property that will take time and is an uncertain risk; so in the meantime does anyone have any recommended lenders that are more likely to accept this scenario?
Thanks,
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