68 year old George Butler had spent a considerable part of his working life in the Royal Air Force before retiring from engineering. He now has an active lifestyle and is also the Chairman of the local Bee-keepers association along with his other interests, including keeping fit.
George has recently been looking at ways of improving his financial situation and maintaining his standard of living, but additionally looking at ways of helping his children financially. He therefore started looking into the possibility of equity release to help his situation. Fortunately, a close friend recommended him to Chris Chance - an independent equity release adviser with Equity Release Supermarket.
At first there was some trepidation as George saw the equity release market as ‘a minefield’. However, after spending much time discussing his personal and financial situation along with his future aims and aspirations, Chris recommended the Flexible Lifetime Mortgage from Hodge Lifetime.
This lifetime mortgage met his requirements perfectly, allowing George the initial cash lump sum he required whilst also providing a cash withdrawal facility from which further withdrawals could be made as needed.
George also liked the Flexible Repayment Option allowing repayments of up to 10% per annum of the amount borrowed, which he could utilise at any time after the first anniversary of the plan. This could help him reduce the roll up of interest and being an optional feature could be used as and when his circumstances allowed.
Not only that, but if George does decide to downsize and pay off his loan in full after 5 years, he can do so with no early repayment charge. This is another feature which Hodge Lifetime feel will be beneficial for many retirees in the future, as they decide to move or downsize as they get older.
Overall, George feels that taking out the Hodge Lifetime plan has really made a difference to his lifestyle. He has been able to meet all his aims and he now feels he has no ‘money worries’ for the future.
George was extremely happy with the service provided by both Equity Release Supermarket and Hodge Lifetime, which he felt was excellent.
Tony, aged 63 has enjoyed a long and varied career within the media sector. Working with large well known organisations such as the BBC and also as a freelance broadcaster, he is currently semi-retired.
Tony was looking for a financial solution that would allow him to raise capital to help boost his income, carry out home improvements and ease him into a very active retirement. His many pastimes include gardening, enjoying good food & wine, the performing arts, music and film. He also finds the time to study for a degree with the Open University.
After carrying out his own extensive research, Tony approached several independent financial advisers, deciding to proceed with Roger Wash, specialist retirement adviser at Bower Retirement Services. Having thoroughly reviewed his circumstances and considered various options, Roger recommended the Lump Sum Lifetime Mortgage from Hodge Lifetime.
Since taking out the Lump Sum Lifetime Mortgage, Tony has been very pleased with the service he has received from both Hodge Lifetime and Bower Retirement Services. Tony was impressed by the plan features, particularly the flexible repayment option, this was especially appealing as it is an optional feature, utilised as and when finance or circumstances dictate.
Tony feels that taking out this plan has really made a difference to his lifestyle, allowing him to confidently enjoy his many pastimes in retirement.
These products are lifetime mortgages. To understand their features and risks, ask your Financial Adviser for a personalised illustration.Next Page: Consumer Prices Index