equity

[linrog]

if you have equity in your property and by some miracle can remortgage or loan what happens if you are 62 and only 4 years to retirement age as a loan or remortgage surely would go well beyond that

[Foggy]

There are usually limits in the equity release clause regarding term and payment that would prevent the new loan period exceeding the current one.

[linrog]

so if say the period was 4 years and the ammount to remortgage over that period is way above 50% of iva payment what happens then if you understand my meaning thankyou

[Foggy]

It means you cannot remortgage within the agreed limits and you get an extension instead, if that alternative is there.

[linrog]

thankyou for that foggy