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Is it possible to buy out equity release companies?

2 replies

NotdeadyetBOING · 09/10/2015 13:58

My mother has just died and had taken out an equity release scheme on her house. I am wondering if I am able to offer to buy out the horrid equity release company of their % or whether normally they insist on the property being sold to get their hands on their slice. Does anyone have any experience of this? I'd rather keep the property if poss and may be able to raise the funds to repurchase the bit that got sold off.

OP posts:
caroldecker · 09/10/2015 14:19

they will not care how they get the money, only that it is the 'right' amount. You would need to pay them the market rate.

NotdeadyetBOING · 09/10/2015 14:37

That is what I thought, but it's not clear from the contract. Wondered if anyone else had been through the negotiation.

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