Equity release helps to buy retirement home
Mrs Frances Green called Key Retirement Solutions to make her move to a comfortable retirement home more affordable.
Frankie, as she is known to her friends used an equity release plan to obtain £57,000 as a lump sum to purchase her new retirement home. After leaving the US where she had lived for a number of years, Frankie came home to the UK and found that due to the strength of the British pound she couldn't afford a similar style of property to which she was accustomed around the North London area.
Frankie liked the idea of living in a retirement property for the sense of community and the safety of the environment. And she wouldn't need to worry about carrying out any exterior maintenance on her home.
While looking round some retirement properties she found that she could arrange an equity release plan on the property that she wanted in order to buy it. The cash lump sum could be released from the home on the same day as gaining ownership, which reduced the amount of money needed to purchase it. She decided that this was the perfect solution to her housing problem.