All Topics / Finance / Equity Release and Refinance

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  • Profile photo of psrpropertypsrproperty
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    @psrproperty
    Join Date: 2020
    Post Count: 3

    Are Equity Release and Refinance the same thing?

    Profile photo of JaxonJaxon
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    @jaxona
    Join Date: 2014
    Post 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

    -Reverse Mortage

    -partial sale

    -sell FV of property

    -Line of Credit (may not be deemed equity release, but similar)

     

    Wish you all the best!

    Kind regards

    Jaxon Avery

    Disclaimer: This is general information only & may not be right for your situation or circumstances.

     

     

    Jaxon | Jaxon Avery – Financial Adviser
    http://www.jpafinancialservices.com.au
    Email Me | Phone Me

    JPA Financial Services Pty Ltd

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213

    Are Equity Release and Refinance the same thing?

    nope

    Refinance = paying one loan out with another

    Equity release = borrowing against an existing property

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

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