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 suggesting a Lifetime Mortgage with a drawdown facility, Mr and Mrs Parry were able to achieve all their goals as well as stay in their home for life. The drawdown facility also enabled them to have a pot of money available for them to call on should their situation change in the future. A tax-free safety net which is only charged for once funds are taken.
