Equity Release
On some properties money can't be released
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| Unfortunately Equity Release deals cannot be taken out on all types of properties.
The exclusion list includes -
- Currently no specialist providers lend in Northern Ireland and some do not lend in certain parts of Wales
- Properties worth less than £40,000 would not be attractive to a finance company
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- Leasehold properties where less than 75 years of the lease remain, or when the property is part of a trust
- Freehold flats may also be unsuitable. As might some former council houses and one bedroom properties
- Properties which are in a bad state of affairs or cannot easily be sold (houses located on major highways for example)
- Some companies will not lend on properties already owned under 'Tenancy in Common'
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Talk to Equity Release providers for confirmation
If you think your property will be excluded it would still be worth calling some companies as you never know.
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FREE Equity Release Guide
- This LearnMoney guide offers a simple 5 Step process outlining exactly how to properly research the Equity Release market
- It make sure you ask the right questions and get proper answers
- Concentrates on the all-important costs and flexibility of the different Equity Release schemes
- More details and to download your FREE copy
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Read more in the Equity Release section:
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