Releasing equity on freehold flats
Posted on 21 March 2018 by Peter
I am thinking of buying outright (no mortgage required) a freehold flat in England for £163,000. The property is semi detached with a total of 4 freeholders. Are there any Equity Release companies that would release some of the equity?
Releasing equity from freehold flats
I am not aware of any Equity Release companies who are willing to lend against a freehold flat and the number of ordinary mortgage lenders who will consider these can be counted on one hand.
Depending on your age, income, the security and how much capital you want to raise it might be possible to arrange a mortgage or secured loan and you should call 0344 346 3672 to speak to one of our independent mortgage advisers.
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.