- psrpropertyParticipant@psrpropertyJoin Date: 2020Post Count: 3
Are Equity Release and Refinance the same thing?JaxonParticipant@jaxonaJoin Date: 2014Post Count: 284
Good Day psproperty,
So technically they are different in the sense refi is restructuring a loan.
Equity release may be many terms or means to release the equity.
From my understanding its more an overview of a way to release equity without selling as per the below structures
-sell FV of property
-Line of Credit (may not be deemed equity release, but similar)
Wish you all the best!
Disclaimer: This is general information only & may not be right for your situation or circumstances.TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213
Are Equity Release and Refinance the same thing?
Refinance = paying one loan out with another
Equity release = borrowing against an existing property