Can you release equity on holiday homes or let property?
The answer to this is yes providing you or youngest applicant are over 55.
We currently have a couple of SHIP approved equity release lender providers who will consider releasing money on holiday homes situated in England, Scotland or Wales (providing worth more than £60,000 and you do not live in it), and currently one if you have an investment property situated in England or Wales and the property is worth more than £100,000.
If you have an investment property portfolio, you can even consider releasing money on up to 5 different properties (subject to criteria), but each would have to have either no existing mortgage or only a small one (less than could be released) on the property. No DSS or multiple let properties will be considered however, nor will any where the landlord or their family lives in or rents the property. Family members include spouse or partner, brother, sister,child, grandparent or grandchild. We would also like to point out that in the case of investment property equity release they are not regulated by FSA and as such you are not offered any protection under the Financial Services and Markets Act 2000.
The amount or percentage of the property they are willing to lend based on your age, may be lower than the figures which our online equity release calculator calculates.
Find out how much equity you could release.
If you have a second home or own a property you let out and would like to find out how much equity you could release, try our equity release calculator or simply check whether we could help, please call us on FREEPHONE 0800 970 4882 or complete our online enquiry form and we will call you back just as soon as possible.