Case Study –Lifetime Mortgage – Home Improvements

Value £1,600,000
Loan Amount £250,000 (Initial sum) + £230,000 (In reserve)
LTV 30%
Achieved Rate 2.28% initial fixed-rate

The Client

Our clients had already supported their children financially and were now looking to raise funds to build a swimming pool in an outhouse, to enable them to spend more time with their grandchildren, along with arranging a drawdown reserve to fund their future travel plans. Most lenders were unable to value the property as it was located in a village, purpose-built, and nothing comparable had recently sold. Additionally, some lenders raised concerns about their desire to improve their home with a swimming pool.