Navigating the financial effect of Covid and how Equity Release provided the solution
Working as a Lifetime Mortgage Specialist adviser is always so rewarding advising on lifetime mortgages.
In these challenging times the focus of my advice is far more around helping people in distressing financial situations to provide them with peace of mind rather than releasing monies from their home to fund that trip of a lifetime!
I will be publishing a series of real-life case studies of some of the people I have advised over the last year, where a Lifetime Mortgage was the most suitable solution to meet their needs.
An all-too-common occurrence I have seen working to help customers approaching or at retirement age over the last year has been job loss. Then the challenges in finding a new position in the current Covid-19 environment.
I recently helped a customer who was at retirement age but did not have adequate pension income to currently retire. They had only changed jobs recently and were let go and then struggled to find an alternative position needed to cover his regular outgoings.
To make ends meet the customer had used their credit card facilities and over time their essential expenditure had taken their borrowings to their card limits. This saw them taking on more cards to keep going until Covid and the economy improved, which they thought would be a short-term thing at the time.
They then took advantage of the payment holiday introduced by the govt to support the population during the pandemic.
Towards the end of that period, they contacted me as they knew they had no further access to credit and could not afford the monthly repayments on their cards once they started again and this of course would be in addition to their day to day living expenses.
Having assessed all the options and in consultation with their children I was able to consolidate all of their borrowings on cards and a few loans into a Lifetime Mortgage Equity Release product having explored all of the other options. This took away the immediate issue that was causing them considerable anxiety but also created a disposable income to meet their outgoings to comfortably see them through this difficult time and meant that they could consider retirement or semi-retirement should they wish to look at it.
A LIFETIME MORTGAGE WILL BE SECURED AGAINST YOUR HOME.
ASQUITH FINANCIAL SERVICES OFFERS ADVICE ON LIFETIME MORTGAGES ONLY.
A LIFETIME MORTGAGE WILL BE SECURED AGAINST YOUR HOME.
AS A MORTGAGE IS SECURED AGAINST YOUR HOME, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.
Can Asquith Financial Services help you?
For more information, please contact us on -
Tel 033 3303 4230 or 07500969167
www.asquithfinancialservices.co.uk
Working as a Lifetime Mortgage Specialist adviser is always so rewarding advising on lifetime mortgages.
In these challenging times the focus of my advice is far more around helping people in distressing financial situations to provide them with peace of mind rather than releasing monies from their home to fund that trip of a lifetime!
I will be publishing a series of real-life case studies of some of the people I have advised over the last year, where a Lifetime Mortgage was the most suitable solution to meet their needs.
An all-too-common occurrence I have seen working to help customers approaching or at retirement age over the last year has been job loss. Then the challenges in finding a new position in the current Covid-19 environment.
I recently helped a customer who was at retirement age but did not have adequate pension income to currently retire. They had only changed jobs recently and were let go and then struggled to find an alternative position needed to cover his regular outgoings.
To make ends meet the customer had used their credit card facilities and over time their essential expenditure had taken their borrowings to their card limits. This saw them taking on more cards to keep going until Covid and the economy improved, which they thought would be a short-term thing at the time.
They then took advantage of the payment holiday introduced by the govt to support the population during the pandemic.
Towards the end of that period, they contacted me as they knew they had no further access to credit and could not afford the monthly repayments on their cards once they started again and this of course would be in addition to their day to day living expenses.
Having assessed all the options and in consultation with their children I was able to consolidate all of their borrowings on cards and a few loans into a Lifetime Mortgage Equity Release product having explored all of the other options. This took away the immediate issue that was causing them considerable anxiety but also created a disposable income to meet their outgoings to comfortably see them through this difficult time and meant that they could consider retirement or semi-retirement should they wish to look at it.
A LIFETIME MORTGAGE WILL BE SECURED AGAINST YOUR HOME.
ASQUITH FINANCIAL SERVICES OFFERS ADVICE ON LIFETIME MORTGAGES ONLY.
A LIFETIME MORTGAGE WILL BE SECURED AGAINST YOUR HOME.
AS A MORTGAGE IS SECURED AGAINST YOUR HOME, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.
Can Asquith Financial Services help you?
For more information, please contact us on -
Tel 033 3303 4230 or 07500969167
www.asquithfinancialservices.co.uk
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