F
FinTalk
Guest
Can I invest €200k of equity from family home in another investment to give me income now?
My requirement is:
* I need to supplement my regular income, which is too low to support family at this time.
* I need the income now, not in 5-10 years.
* I have the asset to do this - the family home with LTV of below 25% and therefore can release €200k easily without bringing LTV above 50%.
* If I release the €200k on interest only, I will have to pay it back @ 4.5% pa. Therefore I need investments which will pay me back the 4.5% ... and then some, to make the exercise worthwhile.
* I'm 40 and therefore could make the equity release stretch out 20 years until I am 60.
Is there any financial adviser there with advice?
My requirement is:
* I need to supplement my regular income, which is too low to support family at this time.
* I need the income now, not in 5-10 years.
* I have the asset to do this - the family home with LTV of below 25% and therefore can release €200k easily without bringing LTV above 50%.
* If I release the €200k on interest only, I will have to pay it back @ 4.5% pa. Therefore I need investments which will pay me back the 4.5% ... and then some, to make the exercise worthwhile.
* I'm 40 and therefore could make the equity release stretch out 20 years until I am 60.
Is there any financial adviser there with advice?