Bob,

First I need to qualify my remarks:

Since getting information on Volvos is about as easy as teaching a dog to
do your taxes, so I can not say with 100% certainty I am correct.

I do believe my 275 outdrive does not use any hydraulics. I think the 275
uses a an electric motor directly to turn a gear which raises and lowers
the outdrive. The 270 may use the same type of system.

In any case, I was having the exact same problem as you on my boat. I
could not raise the outdrive, but heard the trim motor whirling away. The
problem turned out to be the trim motor was loose at the transom plate.
The motor is held in to mesh with a gear by two screws. After I detected
the problem I tightened the screws up and the problem subsided. It was
impossible getting a screwdriver in to torque the screws down so they
would loosen every so often. Finally I put a little RTV on the threads
and the problem has not reared it's uglg head since.

Send me an email to let me know if this works for you!

Bob Dimond