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Q: Parents are thinking about buying into a retirement village and we would like to get some advice on the options and the contractual arrangements they need to be aware of. In one discussion it was mentioned they would lose up to 40% of the property when it came time to sell. Is this considered normal practice….. are there other options available?
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Q: Parents are in their 70’s and have been given advice about using their home to borrow money. What’s the difference between a reverse mortgage and an equity release loan?
A: Thanks for all the advice. The reverse mortgage sounds like the best option but how much higher are the interest rates and from a families perspective are any guarantees needed?
question
Q: Parents are in their 70’s and have been given advice about using their home to borrow money. What’s the difference between a reverse mortgage and an equity release loan?
