Remortgage?

[M1969]

I own my house outright but need to free up some funds for some improvements. Is the best way to do this via a remortgage against the property?

[Everhelpful]

Better than "Equity Release",DON'T fall into that trap whatever you do.Seek proper Financial Advice before you commit to anything.

[factor-fiction]

Equity release can be a good solution if you have no dependants that you want to inherit your house when you die

[Old_Geezer]

Surely if you use equity release to do up the property you got the equity on, you are simply paying to improve the asset you have just passed to the equity company ? Let them pay for their own improvements !

Yes remortgage is probably the cheapest way to get a loan, but do check the financial websites for options/alternatives.

[factor-fiction]

>Surely if you use equity release to do up the property you got the equity on, you are simply paying to improve the asset you have just passed to the equity company ? Let them pay for their own improvements !

I'm not sure I agree. If she does up the property I'm assuming she will get the benefit of living in it while she's alive. Yes, the equity release company may benefit as well when she dies, but that would only be if she took a full equity release. Some people just do a small partial release of maybe 20% so they have some spare cash to help live the life they want in their last few years. I did say though it depends on whether she wants dependants to inherit all or some of the property when she dies.