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  • Mortgages & Finance

    Equity release on home with a holiday studio

    Hi there  I wonder if you can help.  I have had a broker trying to get an equity release on my home but she has not had success but neither is she keeping me informed of what is going on. 

    My home is deemed non - trad due to the fact it is not all brick, but the odd part and a small extension of timber.  The other issue seems to be that I have a room which I converted into a studio and it enjoys successful holiday lets. 

    I am not sure which issue, or both is causing a problem as I have not been kept informed.  Problem being that this has been going on for three months and the  main purpose of it is to pay off a bridging loan by first week in Sept!! 

    My home is worth around £600k maybe more but market is odd. 

    I am enquiring of Keyadvice this week as I have now read on here that it is possible to get a buy to let equity release where there is commercial activity.  I cant believe it is not possible to get an equity release on my home which is mortgage free just because I am letting out a room! 

    Please advise as I am now extremely worried about this situation.  with many thanks

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    Hello Patricia

    Property Tribes Financial Services is powered by H D Consultants which has authorised Equity Release / Lifetime Mortgage advisers within the Team.

    Call us on 01206 654 444 or email advice@ptfs.co.uk to see how we can pick up this case, and speedily progress it for you.


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