Case Study –Lifetime Mortgage | Retiree

Value	£1,100,000
Loan	£99,000 + £262,000 in a drawdown reserve
LTV	32.8%
Rate	3.55% AER
Adviser	- Stephen Savill

The Client

Our client was an incredible 106 years old, with early onset dementia, receiving round-the-clock domiciliary care. The client’s savings had been exhausted due to an extended lifespan and capital was required to cover ongoing care costs, along with completing some essential repairs to the property.

The Solution

As a Lasting Power of Attorney was in place for the client, we were able to proceed under this, working with the client’s Attorney and applying to a lender with no maximum age for the borrower and who could offer medically enhanced terms.

The Henry Dannell Difference

This was a complex case as the client was receiving care in the home from private carers and funds were depleted. We worked with the client’s Attorney and helped source a solicitor who could offer independent legal advice for occupancy waivers that the lender’s solicitor required, all the while pushing to reach completion as soon as possible.