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Equity release

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  • 24-04-2018 2:17pm
    #1
    Cashmerewrap
    Registered Users Posts: 35 ✭


    Hi. We have 100,000 left on our mortgage. I'd imagine the house is worth around 250,000. If we wanted to release equity to extend and do some work outside would we have to draw down all the money straight away? We want to do the building work next year but we need to do a few essential things this year. We don't really want to get a personal loan now and then have to apply for equity release next year.


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    #2
    Bank of Ireland: Jane
    Closed Accounts Posts: 266 ✭✭Bank of Ireland: Jane


    Cashmerewrap wrote: »
    Hi. We have 100,000 left on our mortgage. I'd imagine the house is worth around 250,000. If we wanted to release equity to extend and do some work outside would we have to draw down all the money straight away? We want to do the building work next year but we need to do a few essential things this year. We don't really want to get a personal loan now and then have to apply for equity release next year.
    Hi Cashmerewrap,

    thanks for getting in touch here on Boards.

    We'd advise that you speak to a Mortgage Specialist in relation to this. Please see here for more information on Equity Release with an existing mortgage and a request form to speak with a Mortgage Specialist.

    Alternatively, please call the Mortgage Centre on 01-6113333 and an advisor will be more than happy to help you.

    Please let us know if we can help with anything else.

    Thanks again,
    Jane


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