Inherited Property/equity Release

[djtdjt]

I have inherited my late fathers property, he was a terrible horder/collector, it's taking me ages to clear, been at it over six months already, could I get one of these equity release loans on the property? If yes then I could give up work and spend more time and money to get it sorted, obviously repaying when property is sold, any ideas? thanks.

[Postdog]

Equity release requires you to be a certain age. I'm looking into them for my own reasons so can't advise beyond that with any accuracy.

[Peter Pedant]

why dont you mortgage it with the intent of improving it
(one should be available)

or sell it in its unimproved state

equity release is a terribly bad idea .....

[scooping]

Try phoning them up. What's hard?

[fiction-factory]

It sounds a pretty expensive way of doing it- there are usually fees to pay and the effective interest rate is usually double the standard mortgae rate- and it can get complicated as the 'lender' may impose conditions or want say in how the house is maintained/developed.
Do you have savings you could use or could you draw down some future pension now?

[fiction-factory]

Or ask work for a few weeks' holiday or a month's unpaid leave while you finish clearing it.