Is equity release the right thing to do?

lisyloo

lookstraightahead said:

Someone else might comment who knows better, but doesn't this fall into deprivation of assets? 

There is no mention that it’s being deliberately done to avoid care fees, but long term care should be a consideration as part of the overall financial planning.

sheramber

Some figures would be needed to advise.

what is the value of your house?

What savings do you have?

What income do you have ?

- interest will payable on the amount released, which you will pay  going forward. Do you have enough income to pay this?

or will be added to the all outstanding amounts and payable when the house is sold. In that scenario the whole value of the house can be lost to the equity release company. Hence no inheritance  left.