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Aiming to boost a small pension - and have money put aside for one-off expenses - Mrs B, 76, from Norfolk had her pension fund with Bradford & Bingley, through whom she first found out about equity release with Just Retirement Solutions.
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Her husband passed away 15 years ago and although she owned her own property, she needed additional funds to maintain it. She was interested in equity release since her pension only amounted to £138 a month, aside from the state benefits. She didn’t want to move house and wanted to ensure she had enough money for her retirement.
Just Retirement Solutions arranged to visit Mrs B in her home to discuss whether equity release was right for her, explain the benefits and risks and discuss the different types of plans available to her.
"The adviser was absolutely brilliant from the minute she came. She showed me how much it mattered what my thoughts were and what she could do for me to help myself.
"She kept me informed of what was happening with my case at all times and even gave me her personal phone number. She made life terribly easy.
"She tried to help me understand all aspects of equity release and what would be best for me in my state - in other words, she helped me look at my finances - and it was easy to talk to her and trust her with the information.
"She was a very efficient planning adviser and has been a wealth of help to me, all the way through, from start to finish. If anybody knows the true meaning of the words customer service she really does."
Mrs B decided to take an Aviva Lifestyle Lump Sum Max plan and released £74,000 in equity from her home. She used the money to pay off the mortgage, buy a Smart car, the first new car in her life, a computer and computer lessons, a digital television, a new boiler, some dentistry work and has saved the remainder for emergencies.
"I’m so grateful; I never thought I would have the courage to proceed with equity release. I have been highly delighted with the service and I can go to bed at night and sleep without worrying about where the next penny is coming from. I’ve been so pleased with it. The adviser was so kind to me and effective and helpful in so many different ways. I sincerely would like to, again, say a big thank you to all the staff who helped me with equity release."
All equity release products require you and your property to qualify. Find out if you qualify here.
Useful links Read another customer case - Mr M from Yorkshire
Types of equity release plans