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chatham-chamber
chatham-chamber, Solicitor
Category: Property Law
Satisfied Customers: 11614
Experience:  LL.B, Pg.Dip, LL.M, M.B.A (Pending), Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)
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I own a house left to me through inheritance....I would like

Customer Question

I own a house left to me through inheritance....I would like to live here but the house needs some work done to it..what is the best way to release money to do so!!
House has been valued at around £65950
Submitted: 6 months ago.
Category: Property Law
Expert:  JG_Legal replied 6 months ago.
Does it have a mortgage?
Customer: replied 6 months ago.
No mortgage.
Customer: replied 6 months ago.
Hello??? No mortgage, what's my best way forward of realeasing 25/30 k for home improvements?
Customer: replied 6 months ago.
Hello? You still awake @ £38 there??
Customer: replied 6 months ago.
Your starting to take the piss here JG!!!
Expert:  chatham-chamber replied 6 months ago.
Hi, do you still require an answer?
Customer: replied 6 months ago.
Of course I expect an answer/ advice...I did pay you £38 for something!!
Expert:  chatham-chamber replied 6 months ago.
Hi,The other expert does not appear to be online, so I will try to assist. If the property has been transferred into your name, you can possibly obtain a mortgage on the property which should provide you with funds to renovate the premises.The alternative is to obtain a unsecured loan from your bank.One final option would be to obtain a bridging loan, however, these are notoriously expensive. This by nomeans constitutes financial advice.I would strongly suggest that you visit a local regulated financial advisor to ascertain the best options for you based on your personal circumstances.I hope this answers your question. If so, kindly rate the answer and provide feedback.If you have any further questions, please do not hesitate to contact me.Kind regards,
Customer: replied 6 months ago.
The deeds are with Land Registry now & there's no probate as the house has been valued at 65000 to 70000
Expert:  chatham-chamber replied 6 months ago.
you can download a copy of your deeds from the land registry website.I hope this answers your question. If so, kindly rate the answer and provide feedback.If you have any further questions, please do not hesitate to contact me.Kind regards,
Customer: replied 6 months ago.
I was advised rather than a mortgage an Equity release loan would be the way to go? As I have no mortgage and am therefore unencumbered.
Customer: replied 6 months ago.
Though I see that they all seem to quote for over 55 year olds at least.
Expert:  chatham-chamber replied 6 months ago.
Equity release mortgages are only available to people of a certain age.I hope this answers your question. If so, kindly rate the answer and provide feedback.If you have any further questions, please do not hesitate to contact me.Kind regards,

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