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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31300
Experience:  Over 5 years in practice
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Equity release - am I eligible?

Customer Question

Bought a property via a housing association through right-to-buy. I need to save for either house extension or buying 2nd property in 5 years. Placing larger deposit and higher monthly mortgage payments gives more favourable interest rates. I want to know whether I'll be able to release equity in 5 years time?

I asked HSBC mortgage consultant at my first meeting, who suggested asking the housing association, who passed on the question to their solicitor, and I never for a response - despite chasing up and a few months passing by.

What are the rules around equity release? Who decides? Where can I find whether or not I can release equity?

Submitted: 2 years ago.
Category: Law
Expert:  Nicola-mod replied 2 years ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Expert:  Nicola-mod replied 2 years ago.
Hello,
I apologise as we have not yet been able to find a Professional to assist you. Do you wish for me to continue to search for someone to assist you or would you like for us to close your question at this time?
Thank you for your patience,
Nicola
Customer: replied 2 years ago.
I'll wait bit longer :)
Expert:  Nicola-mod replied 2 years ago.
Hello,
We will continue to look for a Professional to assist you.
Thank you for your patience,
Nicola
Expert:  Nicola-mod replied 2 years ago.
Hello,
Please understand it is rare for us not to be able to find the right Professional to assist our customers. We can close this question and return your good faith deposit to the original funding source on request.
Please let me know how you wish to proceed and again I apologize for any inconvenience this may have caused.
I hope you will give JustAnswer a try again in the future,
Nicola
Customer: replied 2 years ago.

Please close