Mr. Wapkaplett Posted July 14, 2005 Report Share Posted July 14, 2005 If I owned a property outright and let it, would I be able to look at the following scenario? Take advantage of an equity release scheme, giving me say 50% (75k) of the value of the property. I then invest that in ING getting £3750 gross. The rent is say £600pcm so that is an annual total of £10,950 gross. I am 40, not 65, which might be a problem. All sounds nice at the top of a market, but what are the pitfalls and problems. Is it actually possible? PS: Unfortunately it is hypothetical at the moment. WapKap Quote Link to post Share on other sites
OzzMosiz Posted July 14, 2005 Report Share Posted July 14, 2005 Problem with MEWing 75K is you will be paying interest. So the interest you gain in ING is being taken by the MEWed interest. Seems pointless to me Quote Link to post Share on other sites
Gravity's Rainbow Posted July 14, 2005 Report Share Posted July 14, 2005 Problem with MEWing 75K is you will be paying interest. So the interest you gain in ING is being taken by the MEWed interest. Seems pointless to me<{POST_SNAPBACK}> Get with the programme OzzMosiz, everyone knows MEWing is "free money" Quote Link to post Share on other sites
justanewbie Posted July 14, 2005 Report Share Posted July 14, 2005 Equity Release schemes are deisgned to make the equity company rich, not you. End of story. Quote Link to post Share on other sites
OzzMosiz Posted July 14, 2005 Report Share Posted July 14, 2005 Get with the programme OzzMosiz, everyone knows MEWing is "free money" <{POST_SNAPBACK}> Gravity, Whoops, my mistake Quote Link to post Share on other sites
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