One of our existing clients lived in Leicestershire and had always wanted to move back up to the North of England. They had seen their perfect house but were not ready to sell the one they were in. They wanted to do some repair jobs and they also wanted to move things gradually, rather than a mad panic on moving day.
They called us to ask how much they could raise by cashing in their pension fund and investments, as they were slightly short of what they needed. They had tried unsuccessfully to find bridging facilities and felt their only option was to take more from their pension fund, and so pay a lot of tax as a result.
The clients had a decent pension income but hadn’t thought of the option of a mortgage as they were retired. We organised a Lifetime mortgage for them which meant they could move to their perfect house in the North and keep their pensions and investments in tact.