Are you looking to release equity from your property without selling it?
At Black Label Properties we have specialists available to facilitate your needs. We are not interested in why you need the money; we all need a little extra sometimes. This opportunity is available to German nationals and foreigners who own property in Germany, regardless of whether you live in the property or have a tenant.
In the first instance we will go through a series of simple questions about the property and explain to you how it works. If you are eligible and wish to go ahead we will then arrange for our financial solicitor to call and formalise the contract.
Are you eligible?
The amount of equity you can release depends on several factors such as age, property value and property type.
You could be eligible for equity release if you meet the following conditions.
- Own a home in Germany worth £75,000 or more.
- Be able to borrow at least £15,000.
- Live permanently in your home or the property is rented out with a long contract
- Be mortgage-free
Important things to keep in mind:
If you decide to take a lifetime mortgage:
- It will reduce the amount of inheritance you’ll leave behind.
- It may affect your tax position and welfare benefits you’re entitled to.
- Remember it’s a lifetime commitment – and if you decide to end the loan sooner, you may need to pay a substantial early repayment charge.
- You must speak to a financial adviser first.