Equity release

lazerblue

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23 Nov 2009
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Anyone taken this out recently, if so how did it go, positive or negative
 

Brooklands Blue

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Anyone taken this out recently, if so how did it go, positive or negative
I'm an IFA and have arranged for a few of my clients this type of mortgage. Seek proper advice as they are suitable for some clients but not all.
 

marco

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21 Nov 2004
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i'm not really here
dont know anyone who has done this but out of the blue for some reason i completed one of those online instant quote things and they were ready to chuck me 60k, every month now i get hit with mail shots pestering me to take the money, i didnt read the small print as i had no intention of doing it, i presume they hold a claim on your deeds also i asume although not 100% sure you may pay an interest rate on how much equity is released, you may loose any means tested benefits you claim or hit the ceiling for savings when the money is in the bank, unless absolutely in the dire need for cash for whatever reason i think these have to be the final option
 

Gaudion M

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5 Sep 2014
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10,719
Years ago i had a client take one out as he was in financial difficulty. His long-standing lawyer refused to sign the papers for him. Its basically a very expensive mortgage that gets paid off when you die, some say a rip off scam but you can shop around for the best deal - but you dont pay it off ewhen your alive anyway. If you don't care what happens to your assets after you die then no reason not to. If you dont like getting ripped off then dont.
 

r.soleofsalford

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28 Jan 2009
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rag central the blue part.
Haven't done it myself but would consider it if/when the time was right. There's no pockets in shrouds, who cares what happens when you're dead, not me.
I'm an IFA and have arranged for a few of my clients this type of mortgage. Seek proper advice as they are suitable for some clients but not all.



If your an IFA how much do you make per £1000 borrowed through one of these Equity release schemes.
 

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