Equity Released
What it means
If you have paid off the mortgage in your own home and its worth say €250,000, you have what is termed equity worth €250,000 in your own home which you can release.
You can borrow up to a specified amount using your own home as security to purchase another property and make your money work for you.
Questions you might like answered.
- How will you finance its purchase?
- Can you borrow in the country of purchase?
- Can you use the property as security?
- Can you borrow from a bank here to finance its purchase?
- Can you release equity on your home or on an investment property?
Equity Release
There has been an increasing level of interest in equity release as many people have built up much equity in their homes or investment properties through the years. Quite simply you may remortgage your property and use the equity to purchase your dream foreign retreat or investment at home loan rates for as little as 2.75% depending on loan to value. Many people are also availing of interest only loans where you effectively pay half the normal capital and interest monthly repayment.
If you want to know how much you can borrow you should contact an independent Mortgage Broker who will explain the whole process to you. Contact us now on 01-2782900