The couple’s property had no Mortgage and was valued at £500,000. However, due to the fact that they were both over 55 years old and had a smaller income, the high-street banks would not offer them a mortgage for the necessary funds to move to their dream home – a property of £600,000. We recommended they release […]
As a result of this, the client was close to selling his property and buying a much smaller property in order to repay the mortgage. Instead, we recommended equity release, which allowed him to pay off his mortgage and have some money left over to help with his retirement. Best of all, he was able […]
We suggested an alternative approach, whereby the client could approach his parent to release some equity from their property to assist in the purchase. With this additional deposit available, the client was able to obtain a mortgage, saving them thousands of pounds in ongoing rental costs.