It can be frustrating to have so much money tied up in a home that isn’t quite perfect for you. Would a new kitchen add lease of life? Perhaps adding a conservatory – or just giving an overall refresh to make you fall in love with your space again?
An enormous amount of people choose to use equity release to do just that – making home improvements that make their time at home more comfortable and enjoyable.
A real-life home makeover
Gary and Elaine decided to release the equity from their home in 2015 and start making some much needed improvements.
“We’d moved a few years previously – after the kids had left home, but we never really got around to putting the finishing touches on the place.”
“We really wanted to have the windows done, I knew the old ones were costing us money through heating costs – but I also knew it was beyond what we could afford with our pensions and part-time work.”
Gary and Elaine met with an advisor who took them through a series of possible plans that would suit them. Including details of how their right to stay in their home would be protected.
“We worried that we’d be spending money on a house that we’d no longer feel secure in – but it couldn’t be further from the truth. We’re fully protected and plan to spend a long time here now we’ve got the place looking so good!”
Gary and Elaine’s plan meets with Equity Release Council approval, meaning they have a protected right to stay in their home, despite releasing their equity.
“It’s been wonderful to know that we’ve got the funds in the bank to be a bit more flexible financially. We even booked a week away so we could come back to a house with new windows! It’s nice to have a house with no maintenance worries as we get a little older.”