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CAWhat is equity in property and how do you use it? 🏠
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There’s a general misconception that if you are a homeowner with equity available in your property, that you can use 100% of it. In most cases that’s not true. When doing an ‘equity release’ banks generally only allow you to borrow up to 80% of the properties value. The second part to the equation is having enough income to service the new loan, it is not ‘free money’. A broker can help you understand how it works, the different ways equity from your home is released & your ability to actually use it.
#equity #property #mortgagebroker #tips #creatives
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