Bill is a widowed Grandfather, he has lived in the same house for 45 years and it holds many happy memories of his late Wife and of raising their family together. Bills pension income just covers his living expenses and unfortunately his house has fallen into disrepair. Bill has thought long and hard about selling the home and downsizing to a smaller home that requires no improvements or repair work but he found the thought too upsetting and was exceptionally reluctant to even consider this option.
Bill arranged some appointments with Equity Release companies and chose an Equity Release Mortgage to provide not only the money to make the necessary repairs but also some funds fora break with his brother who had also been widowed. He also, very sensibly, retained some funds for any future financial emergencies/repairs.
Bill and his family now have peace of mind that his home is in good condition and that he can remain there to continue making more happy memories there with his Grandchildren.
- Bill has accessed a lump sum of money that he could not have managed any other way aside from selling his beloved home
- He has been able to remain living in a home that holds precious memories for him and restore it to a good state of repair allowing him to enjoy it even more
- He has been able to enjoy some quality time relaxing in the sun with his brother,something neither thought they would ever be able to afford to do
- No monthly repayments
- Flexibility to borrow more money in the future
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