Can someone advise of equity loans for those under 55?

[LoveforPGTipsMonkey]

I've looked online briefly and it sounds like you could theoretically loan against your property but I haven't come across any companies I've heard of or more concrete info.

Has anyone done it or knows about it? Say if you wanted to borrow 10% of your property value (national average sort of property so not a huge amount), either while you are selling it - which can take over 6 months in that area, or 'until it gets sold' even if not selling yet.

Are there any established/trustworthy companies doing this?
TIA!

Wouldn't it be much easier to remortgage? You mortgage amount would go up by the interest would still be lower than anywhere else/another product so the increase in your monthly repayments shouldn't be too bad.

Yeah either see if you can extend the mortgage, or just get a personal loan if you only need like £20k for a short time.

Or you can probably get an interest free credit card with a credit limit of £10k if you have a decent credit score.

thanks for replies.
I should have mentioned (sorry!) that there is no mortgage on the house.
Fluffy I have a few cards and they are full atm. Personal loan not an option - partly because I couldn't repay it (nor would I get this amount) without selling property. In the current circs it's the easiest for me to loan against property as I will be selling it anyway but would rather not sell yet.

Speak to a broker to see if you get get a mortgage against it. Much cheaper than any equity or other loans.

I’m not selling but I’ve just taken out a small mortgage against a previously unmortgaged property. It was really straightforward, got it from the bank, and have only borrowed 20% of the house value.

thank you Jo and South , interesting to see two replies advising the same. CAn you recommend which bank/brokers as I think some are too strict especially if you never had a mortgage. Do you need a specific level of income?

You could ask around locally for broker recommendations. You don't need to have had a mortgage before but you'll need enough income to live on and pay the repayments. When you move house, the mortgage could be repaid early.