Helpful member
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.
Posted: Fri Sep 23, 2022 6:58pm
Super helpful member
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.
Posted: Sat Sep 24, 2022 1:10pm
Legendary helpful member
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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