skydriller wrote:Errr... off of the top of my head:
Sell big house, buy small house, live off of the difference???
Yes, we know full well that is the obvious answer, but there are very strong "emotional" reasons why that isn't appropriate at this moment in time. Downsizing will be the route we want in about ten years time, in practical terms what we need is a cash advance on the downsizing ... And surprisingly it appears that there are products which can deliver this which do not incur huge financial penalties and which leave us in full control.
The term 'equity release' has attracted some really bad press for some dreadful products that were introduced some years ago, and sadly some of those still exist. However, there are other products that deliver equity release in an rather different way.
So, if I say I'm interested on a remortgage the chances are no one would bat an eye lid.