Friday, Jan 18, 2008
how prevalent?
daily mail: Thousands use equity release to beat debt
A rising number of older people are using equity release to raise cash to pay off their debts rather than to provide themselves with a retirement nest-egg.
Working it out: Home owners released more than £1.4bn from their property in 2007
Posted by northamptonbear @ 01:37 PM (271 views) Add Comment
2 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. little professor said...
Equity release to beat debt???
Surely equity release is just taking on more mortgage debt?
2. japanese uncle said...
Debt (borrowed money) under the original form of the equity release scheme as I saw in the advert 7-8 years ago, if my memory is correct, was meant to be repaid by the demise of the houseowner whose estate must waive the right to inherit the house, so he does not have to repay the money (at lease while he is alive.) This form of the equity release more or less makes sense. The scheme seems to have changed its nature in the meantime.