Does your property’s condition meet equity release criteria?
You can be refused equity release if your property is in poor condition. But there are ways to improve the chances of your application being accepted.
In recent years, equity release has emerged as a popular financial solution for homeowners approaching or in retirement. It’s a way to access the value tied up in your property without the need to sell or downsize.
Equity release plans are typically aimed at homeowners with properties in good condition. However, if you have a property with issues with its condition, you may still have options open to you.
In this article, we look at a number of issues around the condition of properties and equity release:
- How does equity release work?
- Why does property condition matter in equity release?
- What issues with your property’s condition may be a problem for equity release providers?
- What can I do if a provider declines my property due to its condition?
- Can I carry out repairs to improve my application’s chance of success?
- Find out if your property meets equity release property criteria.
We hope this article gives you a better understanding of issues around your property’s condition and equity release. We can also help you find out more about your eligibility for equity release. Please call us on 0800 096 2215 or request a call back at a time that suits you. We will be happy to arrange a no-obligation appointment with one of our selected equity release advisers.