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I have some questions about equity release, please.
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retiredbanker1 said:If you have no dependants have you thought of selling up and renting or even downsizing?1
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Did you go through with this and did you need to pay off your current mortgage?
I am looking at doing equity release myself.0 -
Susieq28 said:Did you go through with this and did you need to pay off your current mortgage?
I am looking at doing equity release myself.In this case they did not have an existing mortgage, but if you do, then yes, it must be fully paid off, but that can be done using some of the proceeds of the equity release.What you cannot do is keep your current mortgage and add equity release as well.
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