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Unread 30-09-2021, 07:13 AM
luminova
 
Default Equity release, advice needed

The old man is thinking of doing this but neither he or I know nothing about it, anyone on here offer any advice?

Advantages/pitfalls/good/bad companies

Any help would be well appreciated.

Cheers.
 
Unread 30-09-2021, 08:14 AM
My Name is Heath
 
Default

Donít know too much beyond the basics - like there must be a sizeable cost etc - but also be sure why your Dad needs it.

Is he in debt? Does he want to go to Vegas? Is his health ok.

Iím at the stage where you have to enjoy life whilst you can.

Good luck and sorry to be not more help.
 
Unread 30-09-2021, 08:47 AM
shyteds
 
Default

What do you specifically need to know?
 
Unread 30-09-2021, 08:54 AM
sweetleftfoot
 
Default

Quote:
Originally Posted by My Name is Heath
Donít know too much beyond the basics - like there must be a sizeable cost etc - but also be sure why your Dad needs it.

Is he in debt? Does he want to go to Vegas? Is his health ok.

Iím at the stage where you have to enjoy life whilst you can.

Good luck and sorry to be not more help.
Maybe he cant afford £3 a month subs?
 
Unread 30-09-2021, 11:14 AM
luminova
 
Default

Quote:
Originally Posted by shyteds
What do you specifically need to know?
Just general advice, good/ bad companies, any fees involved, %of the value of the house you receive, that sort of stuff.

Cheers in advance.
 
Unread 30-09-2021, 11:36 AM
red red robbo
 
Default

Quote:
Originally Posted by luminova
Just general advice, good/ bad companies, any fees involved, %of the value of the house you receive, that sort of stuff.

Cheers in advance.
My dad recently took £100k on a valuation of about £600k. I don't really know much more than that, other than I think he had an independent financial advisor look over it for him and say it wasn't a rip off.

At the age of 81 I don't suppose he gives much of a shit to be honest. I've got a house and decent job so I'm not worried about my "inheritance" and my brother would just piss up the wall so I don't think that was much of a consideration. Better to take it and spend it now then to give 40% of it to the government to dish out to their mates.
 
Unread 30-09-2021, 02:25 PM
Mr Kaboom
 
Default

Someone else can pay the tax I don't want to.
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