- Key issue:
- Buying overseas
- Case study:
- Releasing Equity
- Date:
- 2006-06-01
- Mortgage amount:
- 100k
Outcome
Using existing lender to release equity
Detail
Clients has some equity in their property since they purchased two years ago. The clients were interested in purchasing a foreign property for less than 100k. They wanted to remain with their current lender for convenience.We analysed the lender current rate offerings and although there was merit in switching to a cheaper lender our clients had a preference to remain where they were. Accordingly we arranged an equity release equirty from their own home, increased their life cover, the solr stamped the deed and the equity release issued. Client were delighted with the speed of the process . The advantage of completing this transaction in ireland were no language barriers, familiarity with their current lender, rates easier to monitor here etc. the clients also had clear ownership an held title in the property they purchased
