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Stamp Duty implications for inheriting property with equity release
But they will be adding interest to the loan though - thats not to be ignored! Really, you need to get a valuation from a couple of estate agents as the house stands now then get it on the market. The sooner it’s sold the less you will owe to the equity release company.
I've had 3 estate agents in last month. Yes, there is interest to pay which I am well aware of, but at the same time I would have to rent somewhere when I move and that is not inexpensive either. Also, I have noticed a crack in a wall so have to get a structural engineer in to assess whether it is subsidence or not.
There is an argument that while the interest is large, this is offset by the increase in the house price over time.
