Does anyone have experience to share of taking out a lifetime mortgage to buy a house?
We have sold our house and are taking out an equity release lifetime mortgage to help buy our next home.
Our concerns are how much we will be restricted in what we can do with the house ( subject to planning permission) . We understand that with a mortgage there are restrictions such as applying for permission from the lender to alter the property – but there is no advice I can find as to whether these equity release lenders are inclined to agree to alterations or not. And will they be inspecting the property on a regular basis? In short, how hands-on are the lenders when it comes to altering/maintaining the property?
We would like to: convert the garage into a living room
Add folding doors from the back room into the garden
Add a conservatory onto the back of the house
Create another room in the attic
i see that BW legal have credit checked me a few days ago so i am fully expecting to hear from them shortly. i still have all of the relevant pictures and documents in this thread, will update as soon as i hear anything.
my partner has just sent me a pic of a letter from BW legal, not opened it yet because its actually addressed to Ms not Mr, should i return to sender unopened?
Don't touch them owe me £500 since January 2019 make excuse after excuse. Seem they always have software problems sending money out. Keep saying they will call back or email nothing been chasing it now for 6 mths the phone staff always have the same banter we will chase it up and get back to you then nothing!