Equity Release Scheme May Not Work Out
An option that might be open to exploring is an equity release scheme. These are schemes designed to allow you to sell your property (typically at 40% - 50% of its value) and stay in your property long term. They were designed mainly for a certain age group (above 55’s) and the low value they offer for the property make it unworkable for people who don’t have enough capital in their property to accept such a discount. However, a sell and rent back scheme can be a better option as compared equity release schemes.
