Hp or cash
02-05-2004, 02:44 PM
#28
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Originally posted by Kobe
Isn't equity release the banks posh way of saying "extending your mortgage because the collateral is now worth more"...since house loans are typically spread over many years, the actual cost of the car may be double?
Isn't equity release the banks posh way of saying "extending your mortgage because the collateral is now worth more"...since house loans are typically spread over many years, the actual cost of the car may be double?
If nothing else though, even if it does make it more expensive in the long run, it might also make it affordable to someone who couldn't or wouldn't afford to raise the same amount of money on a bank loan repayable over, say, five years.
