You are here: Home - Equity Release -

Case study – Lifetime mortgages

0
Written by:
22/12/2016
Mary Harris, 77, and husband Thomas Harris, 84, are retired teachers.
Case study – Lifetime mortgages

 

 

Mary was a maths teacher while Thomas taught chemistry. . The couple, who have no children, decided to release some equity from their property in order to boost thieir income, improve their lifestyle and pay for some health related items.

Mary said they used some of the money because Thomas needed a hearing aid and they wanted to get the best, which sot several thousand pounds.

 

The couple live in a converted fisherman’s cottage in Newquay.

“We just love it here – the cottage itself, the sea views and our lovely neighbours. We want to stay here forever. So we have no intention of downsizing,” Mary said.

Releasing equity will allow them to maintain their cottage, keep the heating on and take an annual trip somewhere sunny. “IT makes such a difference being able to escape the winter,” Mary concluded.

 

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Save money now!

See how much you could potentially save by remortgaging to a different product

Your Mortgage Guides

Guide to Offset Mortgages

Download our handy guide to offset mortgages, brought to you in partnership with Scottish Widows Bank

Read More >

How much can you borrow?

A calculator designed to help you understand how much you can borrow towards your property
Read previous post:
retirement
House prices 10 times greater than pensioners’ annual income

In the last 20 years, average house prices in England have risen to a whopping 10 times the size of...

Close