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After decades of hard work and careful planning, life took an unexpected turn for a couple in their later years. Changes at work stripped away the foundation of their income, putting their future in jeopardy. With an outstanding mortgage, no possibility of re-mortgaging due to their age and income, and the husband in poor health, the …
Divorce at any time of life is a stressful and upsetting experience for all parties, unfortunately, within the over 60 cohort it is becoming far more common for couples to separate. Often they will have lived in the matrimonial home for many years and the emotional upheaval at the thought of selling the home can …
Mr Moore, 65, found himself in financial difficulty as he entered semi-retirement due to his reduced income no longer covered his monthly outgoings. Most pressing was his mortgage debt with the provider threatening repossession. By releasing £100000 of his housing wealth, Mr Chambers was able to clear his existing mortgage loan plus other debts thus …
Mr and Mrs Buxton, a retired couple in their late sixties, approached Bower Private Clients with a number of goals they wished to achieve using Equity Release. They wanted to repay their existing conventional mortgage, fund essential home improvements, provide financial support for their grandchildren’s private education and reduce their potential Inheritance Tax liability. By …
Mr and Mrs Allen, a retired couple in their late seventies, needed £500000 to pay for urgent and essential repairs to their £12 million London property. Mr and Mrs Allen had taken out a Lifetime Mortgage some years previously to fund holidays and provide gifts to family members. By re-financing they were able to discharge …
Mr Hartley, 83, wished to release further equity from his property to purchase stock in his family business. Mr Hartley needed to clear his existing Lifetime Mortgage for £1200000 from his new facility of £1747000 which then allowed him to invest in the family art gallery with the remaining £547000. Not only did the tax-free …
Following a fall, Mrs Radford needed the use of a wheelchair and urgent modifications to the house were required. The narrow doorways and staircases at the Radford’s Cotswold home needed to be widened for Mrs Radford’s ease of movement. The tax-free funds provided by the Lifetime Mortgage with drawdown facility, that Bower helped select, enabled …
Mr and Mrs Green, both in their seventies, needed to access some of their housing wealth to help save their business. The bank had reduced the company’s credit facility. This restricted their business operation and as turnover decreased the credit facility dropped again leading to a downward spiral. The Greens had debts of £237,000 including …
