I am hoping to get some suggestions on how to help my father out of the situation he finds himself in. He is aged 90 and lives in a house with my mother aged 86 with an approx value of £1m.without a mortgage. He is the classic cash poor asset rich person and would like to release equity from the value of the house. I have heard there are a lot of pit falls when it comes to equity release, and would appreciate any suggestions on where to go for advice. The other option is to get a mortgage on the property, but with his age would this be possible? Any suggestions much appreciated.
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