Firstly,apologies for my ignorance...
Myself & my wife both have our own homes from before we met, neither home is suitable for us to live in as we have one child & are planning another. So we would like to get a larger house.
My home is in negative equity, to the tune of about 30K.
however, due to location, the mortgage would be well covered if we were to rent it.
Her home has about 150k equity in it but was a family home & a family member still lives there so cannot be sold.
we would like to try boost our savings for a deposit, would an equity release be an option or is there even such a thing??
Myself & my wife both have our own homes from before we met, neither home is suitable for us to live in as we have one child & are planning another. So we would like to get a larger house.
My home is in negative equity, to the tune of about 30K.
however, due to location, the mortgage would be well covered if we were to rent it.
Her home has about 150k equity in it but was a family home & a family member still lives there so cannot be sold.
we would like to try boost our savings for a deposit, would an equity release be an option or is there even such a thing??