4th Year Equity Release

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northumbrian69

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Post by northumbrian69 » Wed Sep 08, 2010 4:21 pm
My understanding is the available equity for 4th Year Equity Release is:
(85% of house valuation) minus (Mortgage redemption figure)

If the difference is greater than £5,000 that is the ammount which must be raised by remortgage to satisfy the equity release clause.

Am I right [?][?][?]
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kallis3

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Post by kallis3 » Wed Sep 08, 2010 4:26 pm
Ours actually stipulates how much we are expected to try and release.

At the moment I believe that 85% LTV is the norm.
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Struzzo39

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Post by Struzzo39 » Wed Sep 08, 2010 4:34 pm
I've just contacted our provider querying if we downsized our property and mortgages. Apparently abbey doesnt give mortgages out to people that are in ivas or ever have been in one ! So it also rules them out in our equity release further down the line unless they change the rules
Steven & Debbie
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