We unlocked £60,000 from our property to keep the family together
With house prices ever-increasing in Kent, Mark and Julie Plumber worried that their daughter and grandchildren would have to move out of the area to afford a home of their own. Then they heard about equity release.
“We had a vague idea of how it worked, but then we saw a television advert for Key in the same week a friend started talking about the plan he had taken out. That happy coincidence persuaded us to get information ourselves.
Somebody was renovating a house right by us and we knew it would be just right for our daughter and grandchildren. We asked if it would be put up for sale when it was finished, but the asking price was about £50,000 more than our daughter could afford.”
Mark and Julie took out a lifetime mortgage, the most popular form of equity release, and unlocked £60,000 from the £220,000 value of their home. They used £10,000 to pay for DIY projects including a new bathroom. The remainder went on ensuring their daughter could live nearby.
“The whole experience of speaking to Key and taking out the plan was wonderful. They were really friendly and explained it in plain English, not financial jargon. All the information was clear and concise and every step of the way they explained what would happen and how it would happen.”