When close friends have considered equity release, I have always tried to steer them towards downsizing. Some have taken this option which leaves their estate unencumbered and ensures that they don’t have a complicated contract hanging over their home.
Equity release is a sensible option for some - for all kinds of reasons.
However, as with many financial products which target the elderly, there are some really dodgy deals out there.
One of our horsey friends had a relative lobbying them to take equity release. A few questions soon revealed that said relative was on commission selling equity release.
Please get professional advice before anything is signed.
Last edited by Paul F; 09/10/24 08:14 PM.
