They will usually tell you whether or not they are going to pull your credit.... If you are investing your mortgage payment savings in something else that is low risk, and has a much higher return on your money than your house payment.... The biggest advantage is that the interest on home equity loans is tax deductible.... You have retired and have lost a source of income.... http://www.loans-companies-uk.co.uk/mortgages
You actually need no proof of income, you simply state on the application form, the level of your income.... Finally, I’m still investigating a program called, Mortgage Cycling.... Typically, a home equity line of credit will have a variable rate of interest although some lenders may offer a fixed rate as well.... http://www.loans-in-uk.co.uk/mortgages