Using Equity Release to purchase

Equity Release

These clients wanted to move to their dream home but due to their income and age, they were unable to acquire a mortgage.

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 equity on the new property, which allowed them to raise the additional funds to purchase giving them the home they dreamed of.

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