Advice about Loans for Pensioners
Can anyone help with advice?....
I’m wanting to research any safe and reputable loan providers for an elderly relative.
He is 75 years old, and fully owns his Flat – no mortgage on it.
He has to raise some finance for his contribution of replacing the roof on the building (the are four Flats in one building) and he has damp problems in his kitchen and bathroom. So, apart from the roof situation he desperately needs to sort the kitchen and bathroom flooring; ideally replacement of both.
He has looked at Equity release but has found that his Benefits may be affected if he went down this route. He receives Sate Pension, Pension Credit and in addition disability benefits, due to being partially sighted. I'm confident that he has enough space in his Income to afford a Loan over 5 years or more.
A loan or small mortgage maybe the option. He needs to raise £30k.. Are there any providers that would deal with this – and can you suggest who and add any initial advice….?Many thanks.
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