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Posted: Tue May 05, 2015 9:36 am
by Dave.34
I have sent off my paperwork for equity release which I am unable to remortgage a friend has offered to pay my remaining payments (about 17 payments)as a f+f payment and I repay them.
Will there have to be a second meeting or would they deal with it at the first meeting
Posted: Tue May 05, 2015 9:41 am
by lifenoteasy
It would be a seperate meeting for a f&f which could take 2-3 months to sort.
When you make the offer ensure that the amount reduces by every month than you have to wait as you will be continuing to make payments plus make it clear that the funds are only available if the f&f accepted.
Your friend should keep the funds in their account until required.
Posted: Tue May 05, 2015 10:46 am
by Michael Peoples
This may not need a meeting as often proposals allow for the introduction of third party funds in lieu of equity. A quick phone call to your IP will get you the correct answer.
Posted: Tue May 05, 2015 12:35 pm
by Foggy
All will, as mentioned above, depend upon the wording of your proposal and the timing of the events. Your own IP is best place to advise.