Stamp duty

[motorbiking]

Based on the figures quoted, it was obvious:

And now I've highlighted the inaccuracies, the anecdote is being further elucidated to meet the desired result.

Perhaps the omitted details could have been better explained at the outset.
A friend has taken some Equity Release in their home, but the amount payable to regain that equity is nearly double the original Equity Release value, not 50% of the current worth of the asset.
With a Lifetime Mortgage scheme, the accumulated interest on £30 over 25 years could result in £25k to £45k owing on the sale of the house.
That nearly aligns with £50k being paid on £30k Equity Release via a Lifetime Mortgage scheme.

So you accuse the OP of lying because you haven’t understood.

Shared equity on a multiple with a release fee.

1000s of victims just like the one @Mottie knows

 

[King Billy]

Same problem

Explain which comment you are addressing and what or how are the problems the same.
Your usual vague references don't do justice to a sensible debate.

 

[King Billy]

So you accuse the OP of lying because you haven’t understood.

a) I do understand the various Equity Release schemes.
b) I an familiar with the usual anecdotes related on here,
c) I am familiar with the usual embroidery and later added details to achieve the desired result of anecdotes used here.
d) I did ask if there had been a mistake made in the quoted figures.
e) Mottie has form for quoting anecdotes that are designed to portray him as an honest broker.
f) you and Mottie have interpreted that as an accusation of lying, guilty conscience?

Shared equity on a multiple with a release fee.

There are schemes that incur no early release fee in specific cases, e.g. long-term care.
Also ERC reduce with time 'served', so over a 25 year duration the ERC would most probably have been reduced to zero.
At the higher interest charges there is usually no ERC.
So whether there was a ERC is debatable. Mottie introduced that concept at a later date to embroider his anecdote.

1000s of victims just like the one @Mottie knows

I know, and a generality has no relevance to this specific case.
There are some schemes that are OK, but they maybe in the minority. It doesn't per se mean they don't exist.
My query was on the original figures quoted which given the information at that time, did not add up.

 

[Koolpc]

Is stamp duty where humans jump up and down?

 

[King Billy]

Is stamp duty where humans jump up and down?

It needn't concern you, there's no stamp duty on kennels.

 

[Koolpc]

It needn't concern you, there's no stamp duty on kennels.

Phew!! Thank you my friend.........for a moment there I thought I was going to be in the dog house!!!

 

[motorbiking]

My query was on the original figures quoted which given the information at that time, did not add up.

Something you cannot know.

 

[Mottie]

Perhaps the omitted details could have been better explained at the outset.

Perhaps the omitted details could have been better understood at the outset by anyone not stupid enough to think you’d pay just £20k interest on £30k over ten years let alone 25+ years.

You do know what 'equity' is, don’t you?