NC as paranoid.
So my mum lives in a house worth between 1.6-1.8m, there is about 60k left of the mortgage to pay off. My mum doesn't want to downsize for a long time but she would like to help my younger siblings onto the ladder (she would give me some too). She has been looking at equity release, as apparently this is how a lot of parents help their kids these days.
Apart from the adverts on TV I don't know much about it but thought it had negative connotations. My mum did say they are better now & more regulated plus you can pay back interest monthly to keep the repayments down. Plus her argument is that 200k is more useful to us now than say 400k in 20 yrs times (made this figures up).
Mum still works 2 day a week, has an ok pension & a holiday home.
Obviously she would seek expert advice but thought MNs might have experience, opinions, etc.
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AIBU?
AIBU to ask about equity release?
33 replies
showmethemoulah5 · 21/11/2017 11:30
OP posts:
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