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Equity Release Question
rakesh_2
Posts: 137 Forumite
Hello People!!!
My parents have recently given their house to me as a gift and as they have no debts on the the house i was hoping to do an equity release on the property and buy another house for myself to either live in or rent it out. I have been doing a bit of research and the tendancy is that most equity release schemes are for those who are retired or over 60. I am only 26!! - is it still possible to do an equity release on the house? if so are there any different types of equity release schemes? Plus which one would suit me best taking into account i am 26?
Thanks in advance
My parents have recently given their house to me as a gift and as they have no debts on the the house i was hoping to do an equity release on the property and buy another house for myself to either live in or rent it out. I have been doing a bit of research and the tendancy is that most equity release schemes are for those who are retired or over 60. I am only 26!! - is it still possible to do an equity release on the house? if so are there any different types of equity release schemes? Plus which one would suit me best taking into account i am 26?
Thanks in advance
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Comments
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Is the house in your name now? If so, you need a straight remortgage, not equity release. Speak to an independant advisor to get you the best deal for your circumstances.
HTHEverything that is supposed to be in heaven is already here on earth.
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