Equity release

millerok20

Hi there

New on here so be kind. Have found myself with an Equity Release on my late mothers property. I didn't know anything about it and its come as a shock. Now I have calmed down I want to know if anyone has done anything about it because it all seems totally one sided against me. I just sit here and watch the bill go up and can do nothing about it. Release was taken out in 2004 and it feels like official loan sharking

mjm3346

They are usually done quite nicely so all bases are covered - effectively in many cases ER is just a licence to print money - presumably it was not a large value (percentage) ER if there is still some value worth bothering with after 21 or 22 years

dunstonh

Now I have calmed down I want to know if anyone has done anything about it because it all seems totally one sided against me.

That is a strange point of view.

Lender gave money to your mother. Your mother spent it to help enjoy her final years. What is there not to like?

 I just sit here and watch the bill go up and can do nothing about it. Release was taken out in 2004 and it feels like official loan sharking

Or is it that you are disapointed that you are not getting as much inheritance as you thought? - that is the most common complaint made by beneficiaries. They seem to forget that their parents were adults and had every right to spend their money and if they didn't include you in that decision making, then there is probably a good reason why.