Equity release companies ?

[manmountain]

Can you provide equity release companies that would assist in the program for a person aged 53.
I am now close to the point of equity release or find an IVA mortgage.

[kallis3]

Hi,

We don't provide information about equity release companies on here and I believe you have to be over 55 to do this.

The chances are that you won't be able to remortgage so you may well have to make a further twelve months payments in lieu of the equity. You need to speak to your IP about this.

[Andrew Graveson]

Hello manmountain,

The nature of equity release schemes is that more substantial sums can typically be realised the older that you are. 53 is comparatively young for such an arrangement.

Equity release is a specialist product/service. Mortgage brokers are required to hold an additional qualification and must complete many extra procedures to be involved in this area.

If you look in your local phone book you may find suitably qualified and active brokers in your area advertising that they handle this type of work.

[kallis3]

What you must realise as well is that your house will not be valued at its full worth so you may not be able to release as much as you thought.

[kallis3]

This is pretty much the criteria you need:

The usual prerequisites to take out an equity release contract are -


*Aged at least 55 for Lifetime mortgages and over 65 for Home Reversion schemes
Own your own property and/or have a small mortgage on it, plus
Be a UK resident *