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Any advice on equity release in Spain
Posted: Mon Feb 20, 2023 2:36pm
Has anyone taken out equity release on their property in Spain and if so who did they use. Do you have any advice on pitfalls and advantages.Thank you
Posted: Mon Feb 20, 2023 7:55pm
Legendary helpful member
Hi Pamray,
There have been a couple of threads on this subject recently that may be helpful to you:
Equity release from a property
Equity Release on your Spanish home
Kind regards,
Kim
Kimmy11 wrote on Mon Feb 20, 2023 7:55pm:
Hi Pamray,
There have been a couple of threads on this subject recently that may be helpful to you:
Read more...
Thank you. This was very informative.
With regard to equity release it is not the same in Spain. It is called usufructs/bare property. It works by you selling your property for half price approximately but you live in the the property till you die or go into long term health care. Go into aunmasverde on Google they explain it more clearly
Posted: Tue Feb 28, 2023 1:47pm
Legendary helpful member
Xata wrote on Tue Feb 28, 2023 11:12am:
With regard to equity release it is not the same in Spain. It is called usufructs/bare property. It works by you selling your property for half price approximately but you live in the the property till you die or go into long term health care. Go into aunmasverde on Google they explain it more cl...
Read more...
...early
I believe you're referring to Home Reversion schemes which, as well as Equity Release schemes, are also popular in other countries, including the UK. "Usufruct" is the legal terminology which confers the right of the 'Usufructuary' to continue using a property that does not belong to them. In the case of Home Reversion schemes, it describes the change of the Usufructuary's status from property 'owner' to 'tenant' as a result of entering into one of these schemes.
Kind regards,
Kim
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Kimmy11 wrote on Tue Feb 28, 2023 1:47pm:
I believe you're referring to Home Reversion schemes which, as well as Equity Release schemes, are also popular in other countries, including the UK. "Usufruct" is the legal terminology which confers the right of the 'Usufructuary' to continue using a property that does not belong to them.&...
Read more...
...nbsp; In the case of Home Reversion schemes, it describes the change of the Usufructuary's status from property 'owner' to 'tenant' as a result of entering into one of these schemes.
Kind regards,
Kim
As I mentioned there is no equity release in Spain only usufructs if you need more information please go to the site I mentioned aunmasverde. As a usufructs to a property you can live there or rent it out.
Posted: Tue Feb 28, 2023 3:49pm
Legendary helpful member
Xata wrote on Tue Feb 28, 2023 11:12am:
With regard to equity release it is not the same in Spain. It is called usufructs/bare property. It works by you selling your property for half price approximately but you live in the the property till you die or go into long term health care. Go into aunmasverde on Google they explain it more cl...
Read more...
...early
If you Google "aunmasverde" there are no links in the first page of results. Perhaps you could post the link to their website?
Kind regards,
Kim
Kimmy11 wrote on Tue Feb 28, 2023 3:49pm:
If you Google "aunmasverde" there are no links in the first page of results. Perhaps you could post the link to their website?
Kind regards,
Read more...
Kim
Google Aun Mas Vida Madrid. This site gives you all different ways of releasing cash from your property.
Posted: Tue Feb 28, 2023 4:37pm
Legendary helpful member
Yes, of course I can - always good to add value!
Xata wrote on Tue Feb 28, 2023 11:12am:
With regard to equity release it is not the same in Spain. It is called usufructs/bare property. It works by you selling your property for half price approximately but you live in the the property till you die or go into long term health care. Go into aunmasverde on Google they explain it more cl...
Read more...
...early
Thank you.
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