Our client was a 63-year-old single man with no partner, children or living relatives. He lived in a £400,000 semi-detached house and had retired early and was using his pension but also had a part-time job three nights a week. 

He contacted Resolve Financial Solutions because he wanted to generate some money to update his bathroom, kitchen and downstairs toilet. He also wanted to go overseas for a once in a lifetime trip to watch the England cricket team play in a test match. He decided that he would then use the remainder to subsidise his income. 

After our discussions, we came to the conclusion that he should take an initial £75,000 out and then have an additional cash facility to drawdown over the next 15 years. We managed to secure him a 7.15% rate and an additional facility of £27,000 which he can draw down on whenever he likes. 

The client decided to not pay any of the interest and while we were arranging the equity release his roof started leaking so he was happy that this money would also be able to repair this at the same time. 

Resolve Financial Solutions explore all of the options available to you in order to find the perfect solution to suit your needs. Get in touch today to discuss your requirements.

Please note: This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration. Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits.