Real Stories

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, contact us today. Your call will be treated in the strictest of confidence; there is no obligation and no pressure selling.

Bought a £50,000 barge and funded regular travel

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A retired widower with no children wanted to enjoy his retirement by purchasing a barge and ensuring he had enough accessible savings to fund hobbies, leisure activities and holidays as well as an emergency savings fund that he could call upon if and when needed.

How we helped 

  • Provided independent financial advice
  • Researched the whole of the equity release market
  • Selected a partial Home Reversion Plan from a Safe Home Income Plans (SHIP) registered provider
  • Released a tax-free sum of £65,000
  • Arranged for the drawdown of future sums if and when needed, without any charges

The Benefits

This customer now enjoys:

  • Additional cash to spend on holidays, hobbies and leisure interests
  • A guaranteed inheritance
  • The enjoyment of his barge
  • Peace of mind of an emergency savings reserve that can be accessed if and when required
  • Financial security in retirement
  • The ability to repay the equity release with no financial penalty
  • No drawdown charges resulting in savings should they wish to access their savings fund
  • Competitive terms

You couldn’t have been more helpful; you took time to explain everything in detail. I have already recommended you to my friends and will continue to do so.

Mr South; Westerham, Kent

Our comment:

A Home Reversion Plan involves selling a part of your home in exchange for a lump sum or monthly income. These plans are well suited to homeowners that do not wish to leave their complete property as an inheritance, so in the case of this customer who was a widower with no children, it was the ideal choice.