oakiecokie
Well-Known Member
chabal said:
Born in Withington mate.
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Equity release ... any experts ??
- Thread starter oakiecokie
- Start date
Born in Withington mate.
oakiecokie said:chabal said:karen7 said:I didn't know that
Well you do now.
Was brought up in Delamere Forest near the People's Republic of Northwich.
Born in Withington mate.
Yes but brought up in Delamere.
Sounds expensive frankly.oakiecokie said:dan_bo said:Are you talking remortgage?
No mate.We own our house,but I`m coming up to 64 and the missus is 61,so just seeing what (if any) are the benefits of releasing money back to us,against the value of our house,where the house is still 100% still owned by us and the repayment (+ interest) is only payable once me and the missus go to the blue skies above.
EDIT:Not that you give a shit when you're brown bread.
oakiecokie
Well-Known Member
dan_bo said:Sounds expensive frankly.oakiecokie said:dan_bo said:Are you talking remortgage?
No mate.We own our house,but I`m coming up to 64 and the missus is 61,so just seeing what (if any) are the benefits of releasing money back to us,against the value of our house,where the house is still 100% still owned by us and the repayment (+ interest) is only payable once me and the missus go to the blue skies above.
WTF ???? How much will I repay then.
oakiecokie said:dan_bo said:Sounds expensive frankly.oakiecokie said:No mate.We own our house,but I`m coming up to 64 and the missus is 61,so just seeing what (if any) are the benefits of releasing money back to us,against the value of our house,where the house is still 100% still owned by us and the repayment (+ interest) is only payable once me and the missus go to the blue skies above.
WTF ???? How much will I repay then.
sorry didn't mean to mislead. I'm an engineer not. IFA. I just know there's no cheap money about at the moment.
ColinBellsjockstrap
Well-Known Member
- Joined
- 23 Dec 2009
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- 8,399
It's a massive decision that needs a lot of serious thinking through, especially if you have children you want to leave something to.
The idea (in theory) makes some kind of sense, but personally I would not touch one of these schemes with a bargepole.
There is usually only one winner and that's the insurance company/bank.
A lot depends on how much they value your house at.
The idea (in theory) makes some kind of sense, but personally I would not touch one of these schemes with a bargepole.
There is usually only one winner and that's the insurance company/bank.
A lot depends on how much they value your house at.
Which is what I was getting at.ColinBellsjockstrap said:It's a massive decision that needs a lot of serious thinking through, especially if you have children you want to leave something to.
The idea (in theory) makes some kind of sense, but personally I would not touch one of these schemes with a bargepole.
There is usually only one winner and that's the insurance company/bank.
A lot depends on how much they value your house at.
malg
Well-Known Member
Fight, fight, fight, fight.......chabal said:oakiecokie said:chabal said:Well you do now.
Was brought up in Delamere Forest near the People's Republic of Northwich.
Born in Withington mate.
Yes but brought up in Delamere.
oakiecokie
Well-Known Member
ColinBellsjockstrap said:It's a massive decision that needs a lot of serious thinking through, especially if you have children you want to leave something to.
The idea (in theory) makes some kind of sense, but personally I would not touch one of these schemes with a bargepole.
There is usually only one winner and that's the insurance company/bank.
A lot depends on how much they value your house at.
The three kids are all grown up and all have very good jobs,with the two girls having their own houses and married.Our lad who lives with us is adamant that if we want to look at a plan like this,then we shouldn`t worry about him and his siblings.
Having said that and depending on what we could achieve,all three wont do so badly at the end of the day.Apparently,between now and whenever we snuff it,the actually sale of the house (which could happen in 10-20 years time when the cost of the house could add another £20K),so they wont be too far off.
Its all ifs and buts and whys and wherefores,but we have spoken to the three kids and they have all said the same "bugger off,get it done,don`t worry about us,enjoy it and get Mum to reduce her hours at work".
Don`t you just love your kids.The thing is,we believe them and know that each and every one off them,has the balls to say to us "have a think" if they thought otherwise.They are not selfish,but maybe one or two of you think that us two old farts are !!
oakiecokie
Well-Known Member
malg said:Fight, fight, fight, fight.......chabal said:oakiecokie said:Born in Withington mate.
Yes but brought up in Delamere.
Not sure who I want to win ... Chabal or me !!! ;) I was born in Manchester but have lived in Mid Cheshire for all but one week of my near 64 years.