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Release equity from property as cash?

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  • 22-06-2021 8:15pm
    #1
    R.Byrne5
    Registered Users Posts: 3 ✭


    Hi there, I'm just wondering if someone might be able to shed some light? I have an apartment in the city centre Dublin worth 320,000 with no mortgage on it. Can I release 100 k say as cash to buy some land and if so which bank is good to go to?
    Thanks a lot.


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    #2
    DubCount
    Registered Users Posts: 1,089 ✭✭✭DubCount


    I think what you are looking for is an Equity Release Mortgage. They used to be all the rage pre-crash. Now I reckon you would be better asking a mortgage broker who is up to speed on what all the lending institutions are offering at the moment. Good luck...


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    #3
    R.Byrne5
    Registered Users Posts: 3 ✭R.Byrne5


    Thanks a lot Dub Count for your reply. It seems most banks equity release schemes are specific in what they will lend for but maybe there are other lending institutions that can loan money for whatever you need it for..
    .


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