You are reading a single comment by @Cupcakes and its replies.
Click here to read the full conversation.
-
If I get it re-valued, and my loan-to-value ratio changes, can some of the increase be released as cash?
Yes. I did this to pay for a loft conversion but I don't think anyone asked why I was doing it.
-
Is that what an equity release is
The term “equity release” generally refers to mortgages for old people where the interest rolls up and the lender can’t repossess the house until you die or go into permanent care.
aggi
NickCJ
@Cupcakes
Mortgage chat: I'm coming to the end of the fixed interest rate period (bank just emailed me with a reminder).
The property has probably gone up in value (I assume, based on sales of other similar places close by).
If I get it re-valued, and my loan-to-value ratio changes, can some of the increase be released as cash? Is that what an equity release is? Sounds correct but surely there's some hideous complications...