Property News · January 22, 2014

How can I raise money from a property I own outright?


I would like to raise £50,000 to be repaid on my death, but don’t want to sell my home to a companyQ I have turned 60 and own a property outright, which is worth approximately £350,000. I am self-employed but only earn about £10,000 a year. I have few savings but no debts.I would like to raise about £50,000 of capital, possibly by remortgaging, to be repaid on my death. I do not want to sell the property to a company which then provides a fixed amount and owns the house on my demise. I have no close family, but I would like to leave some money to friends, relatives and charity. Could you advise me on the options? MW Continue reading…

Source : theguardian.com
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