Technology1 min ago
Inherited Property/equity Release
5 Answers
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.
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For more on marking an answer as the "Best Answer", please visit our FAQ.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?
Do you have savings you could use or could you draw down some future pension now?