Do freehold flats qualify for equity release?
There are ways to get equity release on freehold flats – but only if you also own the leasehold. In this article, we look at why freehold flats don’t automatically qualify for equity release, and how you may be able to find a solution.
Most flats in England, Wales and Northern Ireland are owned on a leasehold basis and will qualify for equity release if the lease is long enough. But freehold flats are different, and so it’s worth looking at the subject in some detail.
With that in mind, in our article we cover the following:
- What is equity release?
- Is your flat freehold or leasehold?
- Can you take out an equity release plan on a freehold flat?
- Can I become the leaseholder on my freehold flat?
- What about equity release on freehold flats where you also own the leasehold?
- What if I own the leasehold and a share of the freehold?
- Why is the situation different in Scotland?
- Do all equity release providers take the same approach to freehold flats?
After you have read our guide to equity release on freehold flats, you’re welcome to call us on 0800 096 2215, or request a call back and we’ll be happy to help further. Our selected advisers specialise in equity release and can advise on your property’s eligibility for a lifetime mortgage or home reversion plan.