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-   -   advise re: equity please? (http://forums.sv650.org/showthread.php?t=137575)

dawn07 14-08-09 02:12 PM
advise re: equity please?
 
Hello my wee pets.
Got an, em private, operation planned costing around £7,000. Don't have any savings, and not keen to use the credit card.
Have a smallish mortgage on the house and believe it's worth around three times more than the purchase price ten years ago.
So was wondering if anyone knows anything about releasing equity on your house? Is it advisable?
Thanking you in advance
Dx:p

pookie 14-08-09 02:21 PM
Re: advise re: equity please?
 
best go to your mortgage provider first...if you have been over paying you may be able to get some of it out. Rates on a mortgage are miles better than credit card and any other loans. I would be weary on getting an additional loan secured against your property as then your house will be at risk. Have a look at http://forums.moneysavingexpert.com/index.html and maybe post there as they can be very helpful.. Sorry these are my own ramblings hopefully someone will come along with more advice.

Luckypants 14-08-09 02:24 PM
Re: advise re: equity please?
 
Well depends, if the op is elective and perhaps cosmetic, that is not totally necessary then I would not be borrowing money to fund it.

However, if the op is necessary then borrowing against your house will be cheapest in terms of interest rates but you will be paying it a lot longer since your mortgage may have many years to run. Equity release in houses is a slippery slope that has put many people in a very poor position financially due to the house price falls of past couple of years.

My advice would be to save up for the operation.

the_lone_wolf 14-08-09 02:47 PM
Re: advise re: equity please?
 
Bear in mind that once you're a bloke your insurance will probably go up too...

:smt023

SoulKiss 14-08-09 02:50 PM
Re: advise re: equity please?
 
Quote:
Originally Posted by the_lone_wolf (Post 2004360)
Bear in mind that once you're a bloke your insurance will probably go up too...

:smt023
No more Shiela's Wheels, eh?

dawn07 14-08-09 02:53 PM
Re: advise re: equity please?
 
Cheeky boys!:smt043

the_lone_wolf 14-08-09 02:55 PM
Re: advise re: equity please?
 
Quote:
Originally Posted by dawn07 (Post 2004367)
Cheeky boys!:smt043
:smt047

dawn07 14-08-09 02:56 PM
Re: advise re: equity please?
 
If you must know, it's an operation to make me more 'womanly'! Haha!:rolleyes:

SoulKiss 14-08-09 02:56 PM
Re: advise re: equity please?
 
Quote:
Originally Posted by Luckypants (Post 2004335)
Well depends, if the op is elective and perhaps cosmetic, that is not totally necessary then I would not be borrowing money to fund it.

However, if the op is necessary then borrowing against your house will be cheapest in terms of interest rates but you will be paying it a lot longer since your mortgage may have many years to run. Equity release in houses is a slippery slope that has put many people in a very poor position financially due to the house price falls of past couple of years.

My advice would be to save up for the operation.

Have to +1 this I am afraid

the white rabbit 14-08-09 02:58 PM
Re: advise re: equity please?
 
Quote:
Originally Posted by SoulKiss (Post 2004375)
Have to +1 this I am afraid
I'm in for a fiver. First dibs :lol:

Bibio 14-08-09 03:28 PM
Re: advise re: equity please?
 
Quote:
Originally Posted by dawn07 (Post 2004374)
If you must know, it's an operation to make me more 'womanly'! Haha!:rolleyes:
why would you want to do that?

lets face facts 'YOU ARE A WOMAN' so how can you get more womanly.. and if its a booooob job your on about then it just gives the more pervy men (like me) something to stare at when talking to you instead of looking at you when talking to you. after a while you will get fed up with men like me looking at your booooobs.

dont bother its only vanity...

Luckypants 14-08-09 03:32 PM
Re: advise re: equity please?
 
Quote:
Originally Posted by the white rabbit (Post 2004378)
I'm in for a fiver. First dibs :lol:
:smt046

timwilky 14-08-09 03:33 PM
Re: advise re: equity please?
 
Here I go, a traitor to my sex.

As my wife has had a mastectomy, I have to say boobs are over rated. Yes nice to look at, and all the fun you can have with them is nice. But at the end of the day they can be replaced with a plastic puppy (Grandson's phrase).

Now a roof over you head keeps you warm and dry. Keep the equity in the house and look forward to the day you redeem you mortgage, safe in the knowledge nobody can take the house off you.

shonadoll 14-08-09 03:33 PM
Re: advise re: equity please?
 
Have pm'd you Dawn.

Biker Biggles 14-08-09 03:54 PM
Re: advise re: equity please?
 
Quote:
Originally Posted by timwilky (Post 2004408)
Here I go, a traitor to my sex.

As my wife has had a mastectomy, I have to say boobs are over rated. Yes nice to look at, and all the fun you can have with them is nice. But at the end of the day they can be replaced with a plastic puppy (Grandson's phrase).

Now a roof over you head keeps you warm and dry. Keep the equity in the house and look forward to the day you redeem you mortgage, safe in the knowledge nobody can take the house off you.
There speaks the voice of a confirmed old fart.:thumleft:

But TW is dead right.
Says another confirmed old fart:D

shonadoll 14-08-09 04:09 PM
Re: advise re: equity please?
 
Quote:
Originally Posted by timwilky (Post 2004408)
Here I go, a traitor to my sex.

As my wife has had a mastectomy, I have to say boobs are over rated. Yes nice to look at, and all the fun you can have with them is nice. But at the end of the day they can be replaced with a plastic puppy (Grandson's phrase).

Now a roof over you head keeps you warm and dry. Keep the equity in the house and look forward to the day you redeem you mortgage, safe in the knowledge nobody can take the house off you.

I agree, but it's a very personal thing, some people are very affected by their breasts/lack of/too much of.

I'm discussing a double mastectomy at the moment with my gp, and may well go ahead. All of the females in my family died of breast cancer, and once my genetic test comes back, it may be the sensible option.

I've had a large lump and been to hell and back in the past month, can't imagine getting the worst news.

SoulKiss 14-08-09 04:17 PM
Re: advise re: equity please?
 
I would like to point out that its the taking finance out to pay for it rather than the getting it done I am commenting on .

Your body to do with as you wish.

timwilky 14-08-09 04:33 PM
Re: advise re: equity please?
 
Quote:
Originally Posted by shonadoll (Post 2004443)
I agree, but it's a very personal thing, some people are very affected by their breasts/lack of/too much of.

I'm discussing a double mastectomy at the moment with my gp, and may well go ahead. All of the females in my family died of breast cancer, and once my genetic test comes back, it may be the sensible option.

I've had a large lump and been to hell and back in the past month, can't imagine getting the worst news.

I hope your tests come back saying you haven't got the gene. After that it is then all the rest they say contributes. I know only too well the heartache a lump and the wait can cause. Then there is the doctors flannel, very unlikely at your age etc, but never really positive. Mammograms that feel like you have had them in a vice. A feeling that you have no choice, the system has taken over and you will do as you are told.

I have seen my eldest in tears, cursing her boobs, they are in the way. they hurt her back, people look at her chest not her face, she cannot get attractive lingerie and has to pay extra for the support, blouses burst open, having to get size 18 blouses that are baggy at the tummy and size 12 skirts. Boobs are a big problem in my house,

Ed 14-08-09 04:36 PM
Re: advise re: equity please?
 
I think you should post up some pics to let the .org decide whether the op is necessary. From a purely scientific perspective, of course.

shonadoll 14-08-09 04:41 PM
Re: advise re: equity please?
 
Quote:
Originally Posted by timwilky (Post 2004468)
I hope your tests come back saying you haven't got the gene. After that it is then all the rest they say contributes. I know only too well the heartache a lump and the wait can cause. Then there is the doctors flannel, very unlikely at your age etc, but never really positive. Mammograms that feel like you have had them in a vice. A feeling that you have no choice, the system has taken over and you will do as you are told.

I have seen my eldest in tears, cursing her boobs, they are in the way. they hurt her back, people look at her chest not her face, she cannot get attractive lingerie and has to pay extra for the support, blouses burst open, having to get size 18 blouses that are baggy at the tummy and size 12 skirts. Boobs are a big problem in my house,
Thanks Tim. The way your eldest is, is the same as me. It's soul destroying, wouldn't wish it on anyone.

dawn07 14-08-09 05:51 PM
Re: advise re: equity please?
 
Feel a bit pathetic now.
Thanks for all the advice ya wee pets Dx:smt053


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