InfoSeeker_
Registered User
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- 22
Hi,
I have 2 properties in my name at the moment.
Property 1 has an outstanding loan of around €150,000. It has a value of around €300,000. I live in this property.
Property 2 has never had a loan in my name, I bought it for cash. It has a value of around €210,000. I rent this property.
If I'm correct, this means I have around €360,000 in equity across the 2 properties (€150,000 + €210,000). I would like to put this equity to use but since I'm 30 years old I do not seem to be eligible for most traditional home equity release options, as they usually have a minimum age requirement of 55-60.
Other than selling, does anyone know what options I might have? I'm thinking if I could somehow borrow or free up say €70,000 of that equity I could use it for a down payment on a buy to let.
Thanks.
I have 2 properties in my name at the moment.
Property 1 has an outstanding loan of around €150,000. It has a value of around €300,000. I live in this property.
Property 2 has never had a loan in my name, I bought it for cash. It has a value of around €210,000. I rent this property.
If I'm correct, this means I have around €360,000 in equity across the 2 properties (€150,000 + €210,000). I would like to put this equity to use but since I'm 30 years old I do not seem to be eligible for most traditional home equity release options, as they usually have a minimum age requirement of 55-60.
Other than selling, does anyone know what options I might have? I'm thinking if I could somehow borrow or free up say €70,000 of that equity I could use it for a down payment on a buy to let.
Thanks.