Other Candid sites

Candid Financial Advice
Financial advice for a fraction of the usual cost.

Compare Fund Platforms
The UK's only fund platform comparison site for private investors.

Calculator over 80 Calculators!

Covering almost all your money needs - use them.

Vice Tax

Calculator The Government levies extra taxes on things that many people find enjoyable, such as drinking, smoking and driving. Find out how much 'vice' tax you're paying with this calculator.

Random Jargon

Index-Linked Gilt Fixed Interest

Gilts where both interest and the redemption value are linked to inflation.

Ask Justin

Ask Justin

| Printable version | A A A |

Equity release on shared ownership property?

Borrowing | Mortgage Helpful? 10

Asked by naprop, submitted 26 September 2012.

Open Quote Can you get equity release on a shared ownership property where you own 50% and the housing association own 50%?End Quote

Answered by Justin on 26 September 2012

No, I'm afraid equity release schemes require you to own 100% of the property. If you need to raise cash you may be able to mortgage/re-mortgage your 50% share in the property. However, lenders are far more cautious than they used to be, so even this might be tough unless you have a reasonable amount of equity in the property.

Please note this answer does not constitute a recommendation or financial advice and should not be relied upon when making specific investment or other financial decisions. You should always undertake your own research into whether a product or service is appropriate for your needs and, if necessary, use a qualified professional adviser.

If you found this answer helpful, please add your vote by clicking here.

Readers' Comments (0) - To post a comment please register or login .