Equity release


Mr & Mrs J lived in their own home in North Wales. Mr J was 69 years old and wanted to retire, but because he was self-employed he had not paid into a pension plan, nor did he pay the correct National Insurance stamp, so he had no state pension to fall back on. They both had credit cards and personal loans which were draining their income.

Mr & Mrs J’s children were concerned that their father should have retired years ago and were worried that his health was suffering. An existing client of Logic Wealth Planning recommended that they approach us to see if they could be helped to manage their small income better.

Our approach

Logic Wealth Planning completed a full review of Mr & Mrs J’s finances and lifestyle and created a new lifestyle plan for them to enjoy. We obtained full and final figures for each of the debts, negotiating with the creditors to reduce the final bill. We designed an affordable budget plan for them to manage which would give them the lifestyle they deserved.

Logic Wealth Planning obtained maximum borrowing on the couple’s family home using an Equity Release mortgage. Mr & Mrs J used this to provide them with monies to both reduce outgoings and provide an income. This was arranged after full consultation with their children who were happy that their parents could now enjoy a ‘proper’ retirement and not worry about living hand to mouth.

The outcome

By following our Financial Advice, Mr & Mrs J were very happy to have the support of their family, cash in the bank and no brown letters or demanding telephone calls. They are now living a normal, peaceful and stress free retirement, clear in the knowledge that they have help at hand from Logic Wealth Planning. Their children are not concerned that their own inheritance will be less from their parents, but are happy that their parents are living more comfortably now than they have for many years previously.