Equity release from Future Property Holdings

Equityrelease

Can anyone advise how I could go about releasing equity from future inheritance or is this even possible?

Specifically I am trying to explore the possibility of first refusal on a property at a discounted rate in the future, but with the equity released repayable in monthly sums up until the total sum is repaid. The property is in a prime location with significant potential for development.

Obviously were I able to approach the banks I would do so, but that is not an option, or at least I do not think that is the way banking works anymore, if ever it did.

This is coming from a starting point of a poor credit rating and a lack of options but my questions are genuine. Is there any merit in approaching builders or indeed approaching a bank directly?

I have looked online for equity release options but I can not find anything that might help me, perhaps understandly.

I appreciate any advice given. I tried to place this as best I could in terms of what forum and this I felt was as close as possible!

pedroeibar1

Equityrelease wrote: »

Can anyone advise how I could go about releasing equity from future inheritance or is this even possible?

It's not possible, it's a stupid question because it is not 'equity release' - you have no equity to release; a future inheritance is not worth the paper it is written on.

Equityrelease

Not sure the necessity for the aggression. I do not think its a stupid question or else I obviously would not have asked. Any further advice is appreciated.

thegolfer

No.

You don't own the property, to which the suggested equity release related.

Banks would be unwilling to lend to you unsecured, and on top of poor credit rating.

davindub

Equityrelease wrote: »

Can anyone advise how I could go about releasing equity from future inheritance or is this even possible?

Specifically I am trying to explore the possibility of first refusal on a property at a discounted rate in the future, but with the equity released repayable in monthly sums up until the total sum is repaid. The property is in a prime location with significant potential for development.

Obviously were I able to approach the banks I would do so, but that is not an option, or at least I do not think that is the way banking works anymore, if ever it did.

This is coming from a starting point of a poor credit rating and a lack of options but my questions are genuine. Is there any merit in approaching builders or indeed approaching a bank directly?

I have looked online for equity release options but I can not find anything that might help me, perhaps understandly.

I appreciate any advice given. I tried to place this as best I could in terms of what forum and this I felt was as close as possible!

Even if possible, it would be a terrible compromise to sell a property at todays prices for the future. At a certain stage of your life when you are retired, etc, the income would be worth a lot less than today.

TBH it sounds like you are desperate for cash rather than making a life decision, you might be better to fix income problems today by upskilling, starting a business, etc and start saving.

pedroeibar1

Equityrelease wrote: »

Not sure the necessity for the aggression. I do not think its a stupid question or else I obviously would not have asked. Any further advice is appreciated.

No aggression, just simple fact expressed in a few words. If you saw it as aggressive perhaps you don't like the truth and prefer to thank waffle? There are several equity release operations in Ireland, but as you don't have equity to release Googling for them won't help.