Curious reasons for lenders denying equity release

Published: 11 September 2019

As we advise on equity release, we were interested to read this article in FT Adviser. The article reports: “Aviva will not lend on properties with single skin brickwork where it comprises more than 20 per cent of the surface area of the external walls, while More 2 Life has concerns about the percentage of roof slates on a building containing asbestos.
Canada Life told FT Adviser it would not lend on some listed buildings, primarily grade 1 or grade 2, but would consider “timber framed properties” — but only if they were built before 1960.By comparison, Aviva will not accept timber framed properties built between 1920 and 1965.”
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