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Inherited Property/equity Release

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djtdjt | 19:55 Wed 26th Jul 2017 | Business & Finance
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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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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.
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 .....
Try phoning them up. What's hard?
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?
Or ask work for a few weeks' holiday or a month's unpaid leave while you finish clearing it.

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