Equity release. - General property discussion in Pilar de la Horadada - Pilar de la Horadada forum - Costa Blanca forum in the Alicante province of Spain
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lenco

lenco

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I have been thinking about equity release, lately but there seems to be a lot of information out there. Some good and quite a lot bad. Is there anyone who has direct influence by actually going through the equity release scheme themselves.

Herefordjack

Posted: Fri Sep 23, 2022 6:58pm

Herefordjack

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Posted: Fri Sep 23, 2022 6:58pm

Equity release schemes are set up to benefit the scheme provider, not the recipient.

If you can, and I obviously don't know your personal circumstances, you might be better off downsizing if possible.

Stephanie86

Posted: Sat Sep 24, 2022 1:10pm

Stephanie86

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Posted: Sat Sep 24, 2022 1:10pm

I vaguely looked into this a couple of years ago when trying to resolve the issue of my mother’s ongoing care in a Residencia. Also a friend, with a very high value debt free property and no dependents was doing the same for himself.

We both came to. The conclusion that in reality the amounts of equity that would be released were not worth the effective loss of the property in the future. We sold my mother’s house in the end.

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