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Equity release for 26 year old

I bought a house that needed refurbishing and am hoping to increase it's value significantly. How do I get any of this cash without selling it? I'd like to get a buy-to-let property too and keep my current house. I am 26 and equity release seems to only be available to 55+. How do I reap the rewards of my renovation work?

Asked on Sep 7 2013, Home Finance in London | Report content

Answers (5)

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  • Hi, It's simply a question of re-mortgaging and if so you would then remortgage for the cost of the appropriate work. We hope this helps.

    Answered on Sep 9 2013, Report content
  • Thanks Peter. So does that mean I'd have it revalued at say £300,000, get a mortgage for £250,000, pay off my current £200,000 mortgage and then have £50,000 in my bank? Thanks very much.

    Answered on Sep 9 2013, Report content
  • Hi, We suggest that you sit down with a Mortgage Adviser who can assist you with this. There are factors to consider when re-mortgaging i.e. current property value, how much equity you have in the property, affordability etc. but your advisor would help you in making a final decision and whether or not what you at are looking to achieve is feasible. Good Luck and let me know if you need any further assistance.

    Answered on Sep 10 2013, Report content
  • Good Afternoon We have an in house mortgage broker who has access to the whole of the market, advice is free. Please call us and he will be able to help you go through some figures and answer any questions you have.

    Answered on Sep 10 2013, Report content
  • Hi Kenny, We answered your question in the form of a video format on our blog, let us know if that answers your question and let us know if we can help you with anything else! :)

    Web reference:

    Answered on Oct 29 2013, Report content

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