Legal Eagle Q&A: Is there any way that we can get a mortgage despite being retired?

January 10, 2017 by Melinda @ Giles Wilson Solicitors

Question: My husband and I bought out house just off Leigh Broadway in 1984 for £30,000! We were really excited when we paid off our mortgage in 2009 when we were both aged 55. We really don’t want to move but we need some money which seems crazy when we are living in a house now worth so much! Is there any way that we can get a mortgage despite being retired?

Answer: The good news is that you can! This is called Equity Release; where you release the equity from your now valuable property. It is a special form of mortgage so you need specific legal advice but definitely a possibility for you.

This article is by Melinda Giles at Giles Wilson Solicitors. 
For legal advice please call 01702 477 106 or visit one of Giles Wilson's offices: 1711 London Road Leigh, 54 Leigh Broadway, 5 Roche Close Rochford 
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If you would like to put forward a question to Melinda, please comment below or email joanna@leigh-on-sea.com