Equity Release

[Jondel]

My parents would like to release a small amount of equity from their property, They are both in their seventies, I would also like them to have a few more holidays, But we are all very wary about it, Can anyone throw some light on the subject, We would be gratefull for any help you can give us.

Thanks in advance.

[Priesty]

Northern Rock have a nice range of equity release mortgages. Basically you can release a set percentage off the house value dependant upon age, there is no monthly repayment, but the interest is rolled up until they die, and then deducted from the sale of the property before given to the estate

[Jondel]

Thanks Priesty,

That was a great help

[newquizzer]

Make sure any Equity Release provider you use is a member of SHIP. This is the trade body and sets down cetain standards and safeguards.