Equity Release For A 26 Year Old

This question was from Zoopla user ikennedy.

I bought a house that needed refurbishing and am hoping to increase it’s value significantly. How do I get any of this cash without selling it?

I’d like to get a buy-to-let property too and keep my current house. I am 26 and equity release seems to only be available to 55+. How do I reap the rewards of my renovation work?


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Video Transcription

If you’re thinking of an equity release scheme and a lot of people are these days, I think that you really, before you do anything, need to seek the advice of a solicitor and an independent financial advisor.

They can look at the whole situation and see whether equity release is the right thing for you.

You have stated that you are 26, that does seem quite young to be thinking about releasing capital, but of course it may be the right thing if you’ve got something good to use it on.

So see an independent financial advisor, otherwise known as an IFA and speak to a good solicitor as well and won’t go far wrong.

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