Gransnet forums


Equity release

(8 Posts)
JackK Fri 19-Jul-19 10:42:06

Has anyone done this? Do you have any horror stories or (hopefully) positive experiences to report?

fourormore Fri 19-Jul-19 10:50:37

Morning Jack!
There has been a recent thread all about this - if you type in Equity Release in the Search box above and scroll down you will find it.
I think the general consensus was a resounding 'No' but whatever you do please seek proper financial advice not from the Equity Release company!
Good luck x

fourormore Fri 19-Jul-19 10:52:18

This link may work?

JackK Fri 19-Jul-19 15:18:02

Thank you both! I'm new to this, thus posting wrongly in the AIBU thread . I'm sure I'll find the correct thread with practise!

fourormore Fri 19-Jul-19 15:32:16

Welcome Jack - we've all been new at some stage and you will soon get the hang of it! I have just tried the link but it didn't work so I'm hoping you found it by doing the search.
Good luck with whatever you decide to do.

Lovetopaint037 Mon 05-Aug-19 18:52:29

Firstly I believe it depends on how old you are bearing in mind that any loan attracts interest so the longer you live the more it will eat into assets.
Secondly, it could depend on whether you have close family who you would like to leave something to.
If you have no family to leave anything to then the interest would be less problematic.

FlexibleFriend Mon 05-Aug-19 19:29:39

These days equity release doesn't have to rack up debts, you can pay the interest off each year and never owe more than you release.

M0nica Tue 06-Aug-19 07:33:12

Like anything in life it depends on your particular circumstances. I know people who have done it for good reason and, years later, are still happy with the deal they struck. It has reduced inheritance tax liabilities when they die and meanwhile has helped get their children on the housing ladder.