My clients came to see me as they did a self cert interest-only mortgage and the term was coming to an end. Not having enough savings to repay the outstanding mortgage and the current lender not prepared to extend the mortgage term meant my clients had no choice but to sell or try and seek another mortgage.
When my clients got in touch and advised me of their concerns, I completed an in-depth consultation to understand their needs and priorities. They told me they wished to remain in their current property and selling their home will be the last option they wish to consider. We looked at the possibility of a lifetime mortgage but due to not having any income meant they would not be eligible for such a product, however, we decided to go down the route of an equity release.
Having several meetings with the clients and their loved ones meant they all knew the financial implications of an equity release product and meant that they can continue living in their home we applied for their mortgage and got accepted within 3 weeks of application.
