I need a lump sum of money, but don’t want to sell my home

Our Client’s Situation:

One of our long-standing clients recently lost her husband and had to re-evaluate her finances and priorities.  She loved the house they shared and also the weekend retreat they created, but after his death she was unable to renew her mortgage on her home due to her age and income. Even if she had been able to secure a mortgage, she would not have been able to continue to afford the payments.

Expert Advice:

We suggested an equity release to utilise the substantial capital in her home to repay the mortgage. This meant that she could stay in the home that reminded her of her husband and retain the weekend retreat.

By restructuring in this way it meant she would also have no monthly payments to the equity release company, as the debt is repaid either on death or in her case should she go into a care home on a permanent basis. This left her able to pay her bills and maintain her standard of living in a way that was important to her.

Recent Posts