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kelby
Apprentice
Joined: 30 Jan 2004
Posts: 6
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 Posted: 03/04/08 - 07:10 Post subject: |
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| I am 70 years old and I am planning a vocation for me and my wife as a surprise. I also want to buy a new car for my grand son and do not have sufficient amount of money to make everyone happy. I have heard about equity releases but do not know anything about it. Is it any good? Thank you in advance. |
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roosevelt
Apprentice
Joined: 30 Jan 2004
Posts: 8
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| Posted: 04/02/08 - 21:57 Post subject: |
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| I can not tell you if equity releases is a good thing for you but as I have heard it make a lot of people happy. You have to know that those kind of lending the money have its price. Namely, equity releases allows you to borrow the money in the price of your home. The debt which you are going to make is gong to be repaid from the sale of your house after your death. If you have plans for your house after your death, leaving it to your kids or something like that, I am strongly against this kind of a deal; otherwise you can go for it. |
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