Residential Reversion within a Family

D

davidod

Guest
Hi

I have a stream of income of €12,700 anually (tax free) that is likely to last for another 15 years.

I want to purchase a portion of my parents house from them in order to free equity up for them to create a small pension and allow them to remain in the house ad infinitum.

THe house is worth c. €675K.

A few questions;
Can anyone recommend a bank that will lend me the money secured on my parents house (which is debt free) to secure this loan on the basis that I guarantee it?

Assuming I unlock €200K for them can anyon recommend a good high yield investment to provide an income from this?

Lastly and most importantly can you recommend a good independant financial advisor to advise on this ?

many thanks
 
If your parents are over the age of 65/70 they can apply for a loan in thier own right through Bank of Ireland Lifeloan or a company called SHIP.
 
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