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At home in the Highlands

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Liz Bolt had always dreamed of living in a house with a beautiful view. 
 
When she eventually retired from the helicopter repair business she had owned with her late husband, Liz decided that this would be the perfect time to finally make that dream a reality. 
 
“When my husband died, I decided I would move to Scotland,” she told us. “We’d always loved Scotland and dreamed of retiring to a house with a beautiful view and having a cat and a dog. 
 
Liz chose to move to the peaceful village of Carrick Castle on Scotland’s west coast. The village is named after the historic 14th century castle that looms dramatically over the shore of Loch Goil. Only a couple of hours by car from Glasgow, Carrick Castle is just one of the many breath-taking locations in the Loch Lomond and The Trossachs National Park that nestles in the country’s lower Highlands. 
 
“It was a great move,” said Liz. “I love it here. The views are spectacular and I enjoy the village life.” 
 
Famed for some of the most beautiful scenery in Scotland and set against the magnificent backdrop of the Arrochar Alps and its dark green forestry, this is a place where many dream of spending their later years. 
 
However, it wasn’t long before Liz began to worry about financing the upkeep of her large, beautiful home. She was also finding it difficult to live the life she wanted to on just her State Pension. 
 
“I deliberately bought a big house so that my children and grandchildren could come and stay over,” she said. “I’d hate to have to move to a smaller place but I was struggling to maintain such a big house.” 
 
Liz decided to look into equity release rather than downsize from the home and location she had always wanted. Having seen one of Key’s advertisements, she contacted us to see what her options were. 
 
“Key have been very good indeed,” Liz explained. “It’s been very straightforward and I didn’t find them at all pushy. My adviser gave me all the information and the facts and gave me plenty of time to make my own mind up.” 
 
After going ahead, Liz now has enough cash in retirement to stay in the home she loves and to carry out the work it requires. She can also offer her children a helping hand. 
 
“Equity release has given me peace of mind,” she said. “You really can’t put a price on that.” 
 
What should you consider before taking out equity release?
 
Our independent, specialist equity release advisers compare products from the whole of the market to find the most suitable equity release plan for you. They’ll discuss all the options available to you and explain that taking an equity release plan reduces the value of your estate and may affect any means-tested benefits you’re eligible for.
 
With a lifetime mortgage, you’ll still own your home. It’s a loan secured against your home and is repaid when you, or the last surviving applicant, pass away or move into long-term care. 
 
Equity release plans we recommend have a no negative equity guarantee, which means you’ll never owe more than the value of your home.
 
You have to get expert advice before releasing equity; it’s a regulatory requirement. Key’s initial consultation is free with no obligation to proceed. If you decide to go ahead with an equity release plan, our advice fee – usually 1.99% of the amount released, subject to a minimum of £1,499 – is payable only on completion.

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