Equity release

Release 50% of equity in one go, in 10 years it will be the time it goes negative. It may make more sense buying a cheaper property if that is a possibility.
 
Anyone who does this has chocolate pudding for brains or is too far up shit creek to have any other course of action.

Don`t do it dont be an idiot.
They are not as bad as they used to be as lots of options now, including just borrowing some money and paying interest on the amount you borrow so the debt doesn’t ramp up. I’m no expert on these but for some people it could be a good idea. If you are single for example with no kids then why leave your property to your long lost nephew who hasn’t seen you for 15 years. Suits some people but won’t be for everyone.
 
Anyone who does this has chocolate pudding for brains or is too far up shit creek to have any other course of action.

Don`t do it dont be an idiot.

If you where single and had no kids , I know it’s not the greatest product , why not ( just asking ) ?
 
I have seriously considered it, due to my circumstances, I look after/live with my elderly blind mother & the thoughts of moving/downsizing fill me with dread, I cant get at my private pension for another 4 years (state pension 5 years) & I cant really go out to work full time due to looking after mum (done over 40 years self employed builder) so at the moment I am trying to buy & sell to survive,
Not really sure what to do because all our money is tied up in the house, banks are a waste of time & I dont really want to go down the equity release route but it is very tempting.
 
I have seriously considered it, due to my circumstances, I look after/live with my elderly blind mother & the thoughts of moving/downsizing fill me with dread, I cant get at my private pension for another 4 years (state pension 5 years) & I cant really go out to work full time due to looking after mum (done over 40 years self employed builder) so at the moment I am trying to buy & sell to survive,
Not really sure what to do because all our money is tied up in the house, banks are a waste of time & I dont really want to go down the equity release route but it is very tempting.
You need to get some help for your mum. You've clearly done a great job looking after her up to now but if you end up skint then its not going to help. Sure someone could help with who to speak to at the council etc. I'm guessing you are not yet 60 and I think you need to get your mum in a home and work a few more years until your pension kicks in.
 

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