Equity Release

Posted on 21 September 2011 by Paul

My mum has a first floor freehold flat in a block of 12 freehold flats. Is it possible to get an equity release mortgage on a freehold flat? The flat is worth about £250k and she would want to borrow £50k. She is 77 years old.


Whilst your Mother would normally be able to release £50,000 on a property worth £250,000 the problem would be the freehold flat.  Unless the property is in Scotland equity release providers do not like freehold flats and I can not guarantee any application would be successful.

I would like you to call one of our independent mortgage brokers on 0344 346 3672 with the address and whether your mother owns the buildings freehold or just has a single freehold flat, within a block of freehold flats?  On receipt of this information we can e mail the providers to get their views.


Answers provided in response to Ask the experts 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 necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

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

You are currently offline. Some pages or content may fail to load.