Hello All,
My in laws have a house worth circa €850K with a Life Loan from 2007 now currently at €250K racking up interest of over 6% I don't know the exact details.
They are both in good health and are in their early 80s.
Does anybody know how this will effect them for when the Fair Deal scheme be required ?
&
They have 2 daughters, is it in their best long term interests to pay off the loan interest accrued and yearly from now on or pay off the whole debt with whatever legal and penalty fees apply?
The in laws do not want to sell the house.
My in laws have a house worth circa €850K with a Life Loan from 2007 now currently at €250K racking up interest of over 6% I don't know the exact details.
They are both in good health and are in their early 80s.
Does anybody know how this will effect them for when the Fair Deal scheme be required ?
&
They have 2 daughters, is it in their best long term interests to pay off the loan interest accrued and yearly from now on or pay off the whole debt with whatever legal and penalty fees apply?
The in laws do not want to sell the house.