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Equity release

Leinsterview · 2012-07-09 17:18:04

My mother (aged in her eighties) is living alone in her own house -- this is in a Dublin suburb and is valued at about 230000. She is interested in equity release based on this asset to fund a home care deal via a private outfit. BOI used to do this via a deal called 'Life Loan' -- not any more. Any ideas?

09-07-2012 5:18pm

#1

Leinsterview

Registered Users, Registered Users 2 Posts: 36 ✭

Join Date: May 2010

Posts: 20

My mother (aged in her eighties) is living alone in her own house -- this is in a Dublin suburb and is valued at about 230000.
She is interested in equity release based on this asset to fund a home care deal via a private outfit.
BOI used to do this via a deal called 'Life Loan' -- not any more.
Any ideas?

0

Comments

#2 11-07-2012 10:37am

Peterdalkey

Closed Accounts Posts: 2,091 ✭✭✭

Join Date: January 2012

Posts: 1977

http://www.citizensinformation.ie/en/money_and_tax/personal_finance/loans_and_credit/equity_release_schemes.html. Has useful information on this topic.

The family may also consider taking out a mortgage on the property as your mother would not qualify on age grounds. This could release fund to cover her nursing home fees.

Please also see
http://www.seniorsmoney.ie/what-is-equity-release.jsp. They appear to offer this facility.

My own mother is in her late 80s in a nursing home and I am well aware of the funding conundrum!

Hope this helps

Cheers

Peter

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