M
mlee
Guest
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?
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?