Pensioner Guidance - Equity Release (House)

[just_dandy]

Hello Everyone.

I have a neigbour who could benefit from some sound advice.

She is a pensioner late 60's. A widow for some 10 years now.

Unfortunately she has financial stresses keeping her up at night. Mostly due to medical bills.

Her husband left her a house which is worth approx. R1.5mil.

Is there a financial institution that would allow her to access the equity of her home with an arrangement to only receive their payment in full after she passes on.

For some-one desperate to have some peace in her last phase of her life, is this a viable option.

Unfortunately she has no children that she can depend on.

Any feedback would be appreciated.

 

[Trompie67]

There are a number of such financial options.

I would advise her to contact an independent financial advisor to assist, even if it does incur a fee of a few thousand rands it will be money well spent.

 

[just_dandy]

There are a number of such financial options.

I would advise her to contact an independent financial advisor to assist, even if it does incur a fee of a few thousand rands it will be money well spent.

Thanks....will lookup one that specialises in these sort of transactions.