In this case study, we delve into the journey of a couple in their late 70s who faced an unexpected financial challenge while endeavouring to stay in their cherished home.
The Challenge
- Their lender was insisting on redeeming the mortgage on their property, presenting them with unattractive and unaffordable terms. Forced with an ultimatum, they were left with a difficult choice – sell their home or find a financial solution that would allow them to stay.
Our Solution
- We recognised that a lifetime mortgage was not the ideal fit for their unique circumstances.
- Discovering the couple had a holiday property, we were able to arrange a 12 month bridging loan on this asset to release enough funds for the couple to settle their current mortgage with their existing lender.
- Being able to access vital funds from their holiday property while it was on the market allowed this couple to continue their retirement living in their cherished family home.
- For peace of mind, this 12 month loan required no monthly payments, as it would be repaid once the holiday property sold. This gave the couple time to then address their financial future without feeling rushed.
Is Your Current Mortgage Situation Complicated?
If you or someone you know is facing a similar financial challenge in their later years, please don’t hesitate to contact us. Our team are here to help with tailored mortgage solutions and personalised guidance to ensure your financial security and the preservation of your most treasured assets. Get in touch with us today for a confidential consultation by calling 020 3126 4898 or emailing info@hayesfinance.co.uk.
