Allan and Lisa Lim’s story

Allan (68) and Lisa (61) have been married for 40 years with a son and two daughters. They have three grandchildren with another on the way. This couple has always been close to their children and love being grandparents, spoiling them whenever they can.

They moved to a smaller house 15 years ago, once the children had grown up, but now find that they need more space to host family dinners and for when the grandchildren are around.

Allan’s recently retired and both are looking forward to retirement with no plans to slow down. They intend to spend more time outside as both are keen gardeners. They also hope to spend some time exploring the UK and are thinking of buying a campervan in a few years’ time for these adventures.

Lifetime mortgage required: They need £58,000 for a conservatory and home improvements with the possibility of purchasing a campervan in the future. They can borrow this amount secured against their £380,000 home in Suffolk.

How does the Just For You Lifetime Mortgage benefit them?

Allan and Lisa were able to build a conservatory to enjoy relaxing in, look out over their garden and host family dinners. This will also provide more space for their grandchildren when they come to visit.

A cash facility gives them the option to withdraw extra funds in the future and to buy a campervan.

The Just For You Lifetime Mortgage enabled them to:

  • Use some of the equity in their house to help them achieve their desired retirement lifestyle.
  • Flexibility of only withdrawing extra funds when they’re needed.
  • Easier to manage the debt as interest is only charged as and when funds are withdrawn.

All numbers are illustrative only to show how the Just For You Lifetime Mortgage could be used. This is not intended to provide any form of advice or recommendation.

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