Posted on 29 January 2011 by claudette mcgibbon
Can you advise me, I own 60% of a Housing Association house, tying up £100k and find I need some capital. I thought they would buy back 10% and I could retain 50%, but they say they don't do that. I don't really want to have to move as I am 76, is there any way to raise some capital?
You don't say what you need the capital for and unless it is for home improvements I don't think there is any way that you could raise the money by borrowing against the value of your home.
It may be possible to get an unsecured loan from your bank but your age and income may be against you. Do you have any friends or relatives that would be willing to lend the money to you? If you do then I would recommend both parties take independent legal advice before any money changes hands.
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