15-11-2014, 07:06 AM
(12-11-2014, 06:58 PM)ginge191 Wrote: Some interesting points; but realistically, the argument of using the money "gained" in a property could be used to purchase a car, isn't reallly something anyone would do? Move house / remortgage to just buy a car?
Hi,
Yes they do!
The saying used to be "By the time you can afford it, you will be too old to enjoy it!" is no longer true. So, mortgage is paid off, and the nest is empty? There are lots of people making a lot of money out of persuading you to opt for Equity Release (They give you lots of money and you don't have to pay it back (though if you choose to, you can pay interest only, or interest plus capital) The down side is that when you pop-your clogs, they get the house, or some of it.
Hmmm! £100,000 available just for the asking? That would buy one hell of a motor home. It's called SKI-ing. (Spending Kids Inheritance). Suitable for some people, but not everybody.
Back on topic ... we can only advise Ginge. It's his decision, and we should not be critical or offended if he doesn't take our advice.
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