Can I release money through my daughter?

Posted on 29 September 2008

I am 54 and own my own house worth approx £250.000 at todays prices, i do not want to return to work, but somehow release money from the house,my daughter has just graduated and secured a job away from home, and is renting a property.I have a small Pension of £4000 pa and do not want to do equity release, is there any way that i can use her income approx £23k pa to release capital in my property.

 

Hi Lynne,

In short yes you can!  The amount you will be able to raise will come down to affordability, but in principal you can do what you would like to do.

If you would like further help or advice on this please do call our brokers on 0845 413 1053.

I wish you all the very best.

Bea

 

Answers provided in response to Ask Bea are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not neccessarily represent the views, positions, strategies or opinions of Charcol Limited. All comments are made in good faith, and neither Charcol Limited nor Bea will accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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