Equity release

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mlee

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I have recently inherited a property with a rental income. I have a small business that needs capital investment of about €100,000. I am considering taking out an equity release against the property and using the rental income to cover the repayments which it will comfortably do.

Is this allowed? I see that people are encouraged to release equity for all kinds of reasons. Under such circumstances how much do I need to disclose about the purpose of the loan? Does the bank need to look at my business plan or can I just keep it simple and separate?
 
Please don't . I had to delete a duplicate of the post above in another forum.
 
Smack - Ouch! :eek: Point taken.....that's me in my place I guess.

But you gotta agree this is just peachy, my first and only response is a rebuke! All told this is not exactly a happy place. Have you noticed, the stress radiating from these boards is palpable?

I'm off to find a happy place - hope you all get your worries eased - cheerio then :D!
 
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