CASE STUDY
Finding a flexible equity release solution that meets today’s needs without compromising tomorrow’s plans.
We’re delighted to share a recent case completion for a retired couple who were referred to us by a professional contact at a renowned asset management firm. This case demonstrates our expertise in understanding clients’ objectives and crafting a financial solution that meets both immediate and longer-term goals.
The Clients and their Enquiry
The couple retired earlier than most and had a clear plan for their golden years. They wanted to supplement their income for lifestyle expenses and avoid drawing funds from their Self-Invested Personal Pensions (SIPPs), as doing so would reduce their pension pot and potentially increase their tax liability. They also aimed to enjoy their architect-designed home for the next five to seven years, after which they intended to downsize.
Market Analysis and Solution
Taking into account these short-term and long-term considerations, we explored the market to find a lifetime mortgage solution that offered both flexibility and a competitive rate. The result was a tailored arrangement enabling them to release an initial lump sum of £30,000, plus a £495,000 drawdown reserve to tap into as needed.
The solution also included full downsizing protection after five years, allowing repayment of the loan without redemption penalties should the couple decide to sell the property. This arrangement ensured they received a tax-free release of equity while retaining the freedom to draw funds in the future and eventually downsize, free from excessive fees.
The Henry Dannell Difference
At Henry Dannell, our approach goes beyond standard mortgage advice. We offer bespoke solutions that take into account each client’s unique circumstances and future objectives. If you have a client who requires lending support or would like to discuss potential options, please get in touch to arrange a discovery call. We look forward to exploring how our services can help you and your clients.
Please note: Later Life mortgage options include Retirement Interest Only and Lifetime mortgages. To understand the features and risks, always obtain a personalised illustration. Please also note: This is a case study and not indicative of typical results. Past performance is not necessarily representative of future results. This information is for general purposes only and does not constitute financial advice. Please seek professional advice before making any financial decisions.
