Do you know that you can now release up to 100 percent of the equity from your home and grow richer in time? Well, an intelligent equity release applicant will first consider factors like his/her credit score and level of income and accordingly check whether these bring any impact on the very amount borrowed against his/her own property. In fact, one’s lending limits depend a lot on the housing market as well as the economic conditions.
So, here are some points which will help you easily release equity from your very own property:
• For one who is having an existing lien on one’s own property can always take out an equity which will be similar to the difference between the market value of his home and the existing lien’s remainder. However, if the prevalent mortgage balance somehow exceeds your property value, it will result in a negative equity. In such circumstances, you can never borrow any more against your own property. Even if you own a posh home, you must initially meet the terms and conditions set by the lender. Read the rest of this entry »