Equity release!

[Andrew EvansParticipant @andrewevans67134]

What about simply selling your house and renting?

[Former MemberParticipant @formermember19781]

[This posting has been removed]

[colin wilkinsonParticipant @colinwilkinson75381]

Andrew, The figures don't stack up. Apart from the logistics of finding something with enough garage/workshop space, and I looked at renting before I bought this place, the cost of renting would be about £10k/year. Assuming another ten years of useful life that would be £100k before rent increases. I can release something like that, still own the residual value, and not have the hassle of relocating again. Basically equity release gives you some money and you live rent free in your own property as I see it.Colin

[Mike PooleParticipant @mikepoole82104]

My mother 89 and mother in law 90 both live in their own properties, my wife and I and our siblings all own our houses, should any inheritance occur I feel that it would be of more use to our children who are denied the opportunity of the 100% mortgage that many of our generation benefited from. Getting £20,000 to £30,000 together and living is not easy for youngsters, I spent all my money on beer and bikes until the right girl came along and we set up home with a 100% mortgage. I think many of our youngsters could leave home and enjoy a home of their own if they weren’t tasked with a major savings millstone.

Mike

[pgk pgkParticipant @pgkpgk17461]

Getting off topic.

There were no 100% mortgages about in my time but I'd taken advice and stayed raesonably frugal and stuck 15% salary into assorted pension/savings policies which I eventually converted into a deposit – right in the middle of the gazumping era and mortgage rates climbing. Like other folk we survived with second-hand sticks of furniture and minimal kitchen appliances and took locum jobs instead of holidays to make ends meet. It wasn't a right for holidays abroad and weekends in glastonbury.

pgk

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