EquityReleaseForum.org
open discussion on equity release
Hi I currently live abroad but have a property in the U.K.
My son rents this property from me.
Would I be able to use equity release and still have my son living in the property and renting it from me.
the property is a bungalow currently valued at £175.000
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Dear Maggiemoo,
The short answer to this unfortunately is no. There is one equity release plan at present that allows funds to be raised on a property that is let. However, the current eligibility criteria requires that applicants are UK residents and that the property is not rented to a family member.
I would suggest you contact an equity release specialist to talk through your options in more detail.
I hope this helps.
Kind regards,
Mark Blanchfield
Mark Blanchfield is a fully-qualified equity release specialist advisor for Age Partnership. Tel: 08080 555 222 Web: www.agepartnership.com
Thank you for that.So in otherwise because i live abroad and have property in the U>K> there is probably no way i can release equity on my property.The only reason my son rents the property is due to the current ressecion I cannot sell the property so its dead money just sitting there.
Thank you anyway.