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.