Clear Existing Debt

Getting into financial control when you find yourself owing money can be a lengthy process and often entails years of strict budgeting, limiting your lifestyle and taking away some of the joy that comes being with friends and family.

Unfortunately, debt rarely goes away without hard work – which is why equity release can provide the funds you need to get back into full control, letting you remember what it’s like to spend your money in the way you want.

A real-life example

Ian and Margaret took advantage of the equity in the home in 2016 and haven’t looked back.

“Life wasn’t about us anymore, it was just about making sure we could make our monthly payments.”

The company Ian worked for shut its doors 2 years before his retirement, leaving him one of hundreds unexpectedly out of work.

“It was an awful time, without the usual money coming in we had to use credit cards and loans to get us through. The amount we owed quickly added up.”

When the couple approached their bank they were told their age limited the amount they could borrow, so they looked into equity release instead.

“We were worried that because we had limited options we’d be taken advantage of, paying over the odds. When we met with an advisor we were very pleasantly surprised, rather than being told what we could do, they showed us a range of plans – and we were given the time to take the information away and discuss it with our family.”

Ian and Margaret opted for a flexible lifetime mortgage – allowing them to pay off interest while releasing a sum that got them free from the binding debt they owed. It’s given them enough to lead a more fulfilling life – and keep some aside to leave for their children.