Question
Can you get equity release on a shared ownership property where you own 50% and the housing association own 50%?Answer
No, I'm afraid equity release schemes require you to own 100% of the property. If you need to raise cash you may be able to mortgage/re-mortgage your 50% share in the property. However, lenders are far more cautious than they used to be, so even this might be tough unless you have a reasonable amount of equity in the property.
Can you get equity release on a shared ownership property where you own 50% and the housing association own 50%?Answer
No, I'm afraid equity release schemes require you to own 100% of the property. If you need to raise cash you may be able to mortgage/re-mortgage your 50% share in the property. However, lenders are far more cautious than they used to be, so even this might be tough unless you have a reasonable amount of equity in the property.
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