Author Topic: is equity release a good or bad idea,??  (Read 112 times)

Alfred

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is equity release a good or bad idea,??
« on: Nov 29, 2018, 01:56:45 PM »

Although its regularly popping up on our t.vs i wonder with the hype that's generated ,i question is it really a good idea to  go for equity release , as what our property could give you , the people who run and organise these schemes obviously are also making big money out of it too,


Q; so what are your views or thoughts on equity release in general,is it a good or a bad idea,

fortyone

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Re: is equity release a good or bad idea,??
« Reply #1 on: Nov 29, 2018, 03:45:05 PM »
I'd have to be pretty desperate. Even then I'd probably downsize instead.

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Michael Rolls

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Re: is equity release a good or bad idea,??
« Reply #2 on: Nov 29, 2018, 03:52:36 PM »
Cynic that I am, I feel that many of these adverts paint a picture too good to be true - so I assume that probably to be the case. To be fair I have only skimmed the details out of idle curiosity, but it just looks like a loan charging interest so the lender can't lose.
Mike
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granny moss

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Re: is equity release a good or bad idea,??
« Reply #3 on: Nov 29, 2018, 03:58:30 PM »
If one has no family, and lives alone, I think that the money could be enjoyed by travelling and having a good time. Maybe. ??? gmx

Bobcat

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Re: is equity release a good or bad idea,??
« Reply #4 on: Nov 29, 2018, 04:12:46 PM »
Its horses for courses. Downsizing is by far the best options for the majority of people, but sadly there are a lot of elderly (usually) ladies living in a house that is far too big for them which they can barely afford to heat and usually cant even afford a decent meal, but they just can't manage the upheaval of moving, for them equity release is worth considering.

Michael Rolls

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Re: is equity release a good or bad idea,??
« Reply #5 on: Nov 29, 2018, 04:16:00 PM »
Its horses for courses. Downsizing is by far the best options for the majority of people, but sadly there are a lot of elderly (usually) ladies living in a house that is far too big for them which they can barely afford to heat and usually cant even afford a decent meal, but they just can't manage the upheaval of moving, for them equity release is worth considering.
Good point - but it pays to study the detail very carefully
Mike
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zoony

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Re: is equity release a good or bad idea,??
« Reply #6 on: Nov 29, 2018, 04:16:26 PM »
I pondered quite a long time before I committed and then it was only because I found out that StepChange would help and act as a 'broker' between me and the insurance company that did the deal. Their help and advice was key all the way through the process.
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brian54

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Re: is equity release a good or bad idea,??
« Reply #7 on: Dec 01, 2018, 01:59:01 PM »
I don't think equity release is correct for me. I have had people phone me trying to sell equity release.
I am having all I want and I am still giving money to my daughter's and grandaughters and saving.
« Last Edit: Dec 01, 2018, 02:42:13 PM by brian54 »

Diasi

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Re: is equity release a good or bad idea,??
« Reply #8 on: Dec 01, 2018, 02:11:17 PM »
I don't think equity release is correct for me. I have had people phone me trying to sell equity release.
I am having all I want and I am still giving money to my daughter's and grandaunts and saving.

That's impressive, your grand aunts must be well into their hundreds.
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