Equity release for properties with no mortgage.

[dnb123]

Does anyone know of any banks/lenders that would release equity. I currently own two properties in ROI, no mortgages, and want to try and release some equity on them. I currently reside in Sydney and just would like some advice or guidance on if this is possible or not.

Many thanks for your considerations

 

[Dr Strangelove]

I’m not aware of any who do this any more.

You could sell the properties and buy two other properties of the same value with a BTL mortgage however.

Would also help if properties are in an RPZ.

 

[Brendan Burgess]

Why are you releasing equity?
To buy a property in Australia?

If so, then sell one of your properties.

Brendan

 

[dnb123]

No I want to buy another investment property in Ireland as I am moving back home soon.

 

[Brendan Burgess]

No I want to buy another investment property in Ireland as I am moving back home soon.

So you are saying - "I am moving home soon so I should buy another investment property"

Sorry, but that does not follow.

Move home. Assess the situation. And then decide what to do.

I doubt you will be able to get a mortgage on a mortgage-free property, but whatever chance you have of getting one when resident in Ireland and with an Irish salary, you have no chance of getting one while not living here.