For a while now I have been thinking about releasing some equity from my property. As I understand it, there are two basic schemes; one is where you recieve a sum of money from a bank/company, they own your house and you rent it off them (I know 'never say never' but...that's not going to happen with me..) and the other scheme is as above but the deeds are still in your name and you repay the money after you die by the company selling your house. Thats the one, if any, I'm interested in.
I'm just wondering if anyone on here has either entered into a scheme like the last one or knows somone who has and if there are there any pitfalls or hidden nastiness I should be aware of. I realise this is a senstive subject so if you would rather PM me, or not even talk about it, I'll understand.
Just a little bit of background; I have no wife/dependant/children or relatives to leave my estate to, I own my own property and am 55 and am a Leo with a GSOH...sorry, disregard the last two...wrong site.
Thanks. Billy
I'm just wondering if anyone on here has either entered into a scheme like the last one or knows somone who has and if there are there any pitfalls or hidden nastiness I should be aware of. I realise this is a senstive subject so if you would rather PM me, or not even talk about it, I'll understand.
Just a little bit of background; I have no wife/dependant/children or relatives to leave my estate to, I own my own property and am 55 and am a Leo with a GSOH...sorry, disregard the last two...wrong site.
Thanks. Billy