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    • russ_fae_fyvie
    • By russ_fae_fyvie 13th Jun 19, 11:42 AM
    • 1Posts
    • 0Thanks
    russ_fae_fyvie
    Equity Release for SIPS House
    • #1
    • 13th Jun 19, 11:42 AM
    Equity Release for SIPS House 13th Jun 19 at 11:42 AM
    We are a couple of months away from completing our Eco SIPS House in Aberdeenshire. It has Solar Therma, Solar PV, ASHP, UFH and a Powewall 2 and the construction consists of a 150mm reinforced concrete raft foundation with 150mm thick SIPS panels clad externally with Treated Larch.
    We are both well into our 60's and once we move in I want to take out an Equity Release Mortgage to clear the Mortgage and all the other loans I have had to take out to build the house.
    Going on its value, we will be well within the ER Criteria for the funds, BUT how difficult will it be to get an ER Mortgage considering some Mortgage Companies seem oblivious to the benefits of a SIPS house even though its so well insulated and solid !
    I'd be interest to hear of anyone having this sort of house and if they got an ER Mortgage in Scotland.
    thanks
Page 1
    • kingstreet
    • By kingstreet 13th Jun 19, 12:07 PM
    • 35,509 Posts
    • 19,416 Thanks
    kingstreet
    • #2
    • 13th Jun 19, 12:07 PM
    • #2
    • 13th Jun 19, 12:07 PM
    What do you mean by Equity Release?

    Are you looking for interest roll-up with no payments, or a different proposition like a retirement interest-only product?

    Either way you should seek professional advice from an authorised later life advisor like an IFA.

    https://www.equityreleasecouncil.com/home/
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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