hi again,
we are now thinking of taking an equity release from our home in the UK, to purchase a place in spain for holiday rental and to use ourselves in the winter months.
can anyone give advice on this being a good idea or not? also if there are any preffered areas etc?
thanks again.

I think it's an awful idea.

I am wondering what method of equity release you are using. Are you remortgaging or using a company offering an equity release product to you?

Equity release can be expensive way to borrow money. However your choices may be limited? It depends on your circumstances.

Buying a house in Spain to rent to others is not such a good idea. IMHO, you are unlikely to cover your costs.

I would suggest a better option would be to rent a property in Spain as and when you want to be there.

we have no mortgage, so thought it would be an easier way of financing it, just thought i would ask those who know more than i do if it is a good idea, obviously not, so will look at other options, thanks for the advice again.

IMHO, equity release is not necessarily a bad idea. I would suggest you need to weigh up the options carefully. You might find this link helpful?

thanks, will look into this.

done a quick calculation, doubt it would be enough to buy a suitable property in spain. so back to square one
no worries, hopefully it will happen

I would suggest you test the water and rent for a month or two. Properties on CBS are very cheap to rent especially out of season. You will be spoiled for choice, but avoid July and August. It was 31 degrees in the shade today ........ and there was not a lot of shade.

can you recommend a good rental agency?

Owners Direct may be your cheapest option, i.e. cut out the middleman.

thanks again, really appreciate the help and info.