Equity Release Case Studies

Equity release can be used to fund anything from home improvements to providing financial help to friends or family or even taking a dream holiday. Whatever you need the cash for, even if it’s just to make day to day living more comfortable, the aim with equity release is to improve your lifestyle whilst maintaining the stability of living in your own home for life and giving you the peace of mind that you will never owe more than the value of your home.

Bower Retirement Services has helped numerous people to do just this and here are a few examples of how we have done it.

How could equity release benefit you? To find out, try our free equity release calculator, or contact us today. Your call will be treated in the strictest of confidence; there is no obligation and no pressure selling.

Equity Release Funds Grandchildren’s Private Education & Reduces Inheritance Tax Liability

Bower Retirement Services Real Story ImageA retired couple in their late sixties married with two adult children wanted to repay their existing mortgage, fund essential home improvements, provide financial support for their grandchildren’s private education and mitigate potential Inheritance Tax liabilities. They also wanted to be able to move to a smaller property within five years without financial penalty.

How we helped

  • Provided independent financial advice
  • Researched the whole of the equity release market
  • Selected a Lifetime Mortgage from a Safe Home Income Plans (SHIP) registered provider
  • Released a tax-free sum of £300,000

The Benefits

This customer now enjoys:

  • A reduced Inheritance Tax liability
  • Sufficient cash to fund home improvements
  • Peace of mind of a quality education for their grandchildren
  • A significantly increased retirement income
  • No future monthly repayments
  • Competitive terms

The procedure was made easy to understand and the legal safeguards fully explained. We have no regrets whatsoever and our family is equally satisfied.

Mr & Mrs Parry; Buckhurst Hill, Essex

Our Comment:

A Lifetime Mortgage involves the provider lending a percentage of the value of your property. You are charged interest on the loan at a fixed rate, but there are no monthly repayments and no set term.