Equity

[Babs22]

I am a homeowner who will be retiring in a year or two. I wish to buy a home abroad this year. What is the cheapest way of raising money to do this as I am under 55 years old?

B. Edwards

[Oneeyedvic]

This is a very tricky question - there are so many permutations depending on your situation....

eg, are you a homeowner at the moment, are you employed/selfemployed, how much equity do you have in your property, when you retire will you get a lump sum, how much is the property abroad costing, how will you pay back any mortgages etc etc etc.

i really would suggest going to a decent independent mortgage broker. Most will not charge you but get a commission from the lender they place the business with.

[erimus1]

Think you stated you were a homeowner - I take it you want a holiday home?? - Try releasing a small part of the equity in your house, along with a cooperative and buy a home between you to use - Private timeshare!
Romania is really cheap and is going to go up in value over the next few years - bank on it
Good luck.