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    • MSE Rosie
    • By MSE Rosie 26th Jun 18, 3:10 PM
    • 88Posts
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    MSE Rosie
    Equity Release guide discussion
    • #1
    • 26th Jun 18, 3:10 PM
    Equity Release guide discussion 26th Jun 18 at 3:10 PM

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    • ledonster
    • By ledonster 18th Jul 19, 5:49 PM
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    How much has your mum's house gone up in value? Were you not included in the original discussions when she took out the arrangement? Perhaps she was struggling and embarrassed to ask the children for help.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • TELLIT01
    • By TELLIT01 20th Jul 19, 11:12 PM
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    Downsizing isn't always a practical option. In the case of the leaky roof, it would have a serious effect on the value of the property. Quite probably reducing the sale price by more than the cost of repair. A smaller property won't necessarily leave the vendor with much in their pocket after the costs involved with selling and moving are taken into account.
    Our neighbour looked at the possibility of moving from a 3 bed house to a 2 bed bungalow and they would literally have had no equity once essential work had been done on the bungalow to bring it up to modern standards.
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