What happened

When we first began speaking with Mr and Mrs Smith they had spent a considerable amount of time speaking with their Financial Advisor about releasing some of the equity in their house. Mr Smith had retired a couple of years ago and while his pension was OK they found they didn’t have much extra to be able to travel which was something they had always dreamed about. They had always been sceptical about equity release as they thought you could end up with your family owing money after your death, however they were reassured throughout the thorough service provided by their Financial Advisor.

What we did

Mr and Mrs Smith had cleared their mortgage some years ago and had recently had the property valued. You can potentially release up to 50% of the value of the property. They decided to take a smaller percentage with the option to take more in the next 5 years. We talked them through the process and set the legal wheels in motion.