Case Studies

Jean can cover her day-to-day essentials, but has no savings or investments, only her pension.

She would like a little extra each month, to be able to treat her grandchildren with days out and spoil them more often and to spend more time out with friends and to keep fit. She’d also like to install a downstairs bathroom to make sure her house is suitable as she gets older and less physically able.

Jean still lives in the family home, a large three-bedroom property in Kent worth £500,000 with no outstanding mortgage. Although her home is larger than she needs, she has a strong emotional attachment to it. It’s where she raised her family with her late husband. It’s also ideally located close to her daughter, so she doesn’t want to move out of the area.

She’s considered lifetime mortgages before, but feels nervous about managing a lump sum, because her husband always managed the finances. She wants everything going forward to be as simple as possible. She’d also like to leave some inheritance to her family.

After 40 years of marriage Barry and Julia have mutually decided to divorce, and are looking for the best way to move forward.

They have two grandchildren, which Julia looks after regularly so her daughter can work and save on childcare. Barry has agreed that Julia can remain in the family home. His pension is enough for him to live a comfortable day-to-day life, but he needs some additional money to cover the immediate costs of the divorce and move out.

Julia receives a moderate pension, but has no savings or investments. She’s worried she won’t have enough income until she gets her share of the divorce settlement. Their home in Cheltenham, which they own outright, is worth £365,000. They have both considered downsizing, but want to avoid doubling their moving costs and causing any emotional stress by selling the family home.