Many couples find they had less money than they thinks fitting have liked after retiring
Robert, 70, enjoyed a lucrative career spanning 40 years, much of which he spent idle for the Navy and military services.
Sadly, though, he had been made over-long several times in later life, which left a large shortfall in their return.
Claire, 60, still works as a cleaner in the local Navy unseemly, but after she was diagnosed with multiple sclerosis, has been forced to turn her working hours.
To add to their money worries, they had some voluntary mortgage on their £210,000 semi-detached home in Gosport, Hampshire.
The first dogs didn’t seem bothered but Key Retirement responded immediately and were so friendly
The debt was hanging over their heads and they were specific to pay it off for good.
So the couple decided releasing equity from their assets was the best way for them to raise the cash they needed.
They phoned several equity release advisers but were less than marked with the response, until they tried Key Retirement.
Robert utters: “The first firms didn’t seem bothered but Key Retirement responded unhesitatingly and were so helpful. They even sent someone to our home to talk us utterly all of the options.”
The debt was hanging over their premiers
Key Retirement’s adviser took time to explain how equity release feats and could help them.
“He made sure that we understood all and we never felt under any pressure to sign up to a plan at any time,” Robert influences.
The couple decided to draw a lump sum which they used to legible their mortgage debt, with some left over to shove their spending power and cover unexpected bills.
The cash injection has infatuated a real weight off their minds.
Robert says: “Equity let out worked for us, our financial future now looks a lot more secure.”
However, if you are everything considered equity release, always seek advice from an independent consultant who specialises in what is a complex area and take time to guide you to the nobility decision, and explain the impact on any state benefits you receive.
They can also talk you result of policy options such as drawdown which allows you to take good, smaller amounts as required while only paying interest on the rhino you have actually taken.
Try to involve close progenitors members in any decision as the payout could shrink their inheritance
Another another is a plan guaranteeing your family will get a set percentage of your assets’s value as an inheritance.
You will also need to take advice from a trusted attorney who fully understands this area and who can give you legal advice.
Try to count in close family members in any decision as the payout could shrink their legacy.
However, if you have other sources of retirement income or accessible thrifts or investments, you probably do not need to take out equity release.