Equity release

Leinsterview

My mother (aged in her eighties) is living alone in her own house -- this is in a Dublin suburb and is valued at about 230000.
She is interested in equity release based on this asset to fund a home care deal via a private outfit.
BOI used to do this via a deal called 'Life Loan' -- not any more.
Any ideas?

Peterdalkey

http://www.citizensinformation.ie/en/money_and_tax/personal_finance/loans_and_credit/equity_release_schemes.html. Has useful information on this topic.

The family may also consider taking out a mortgage on the property as your mother would not qualify on age grounds. This could release fund to cover her nursing home fees.


Please also see
http://www.seniorsmoney.ie/what-is-equity-release.jsp. They appear to offer this facility.

My own mother is in her late 80s in a nursing home and I am well aware of the funding conundrum!

Hope this helps

Cheers


Peter