68 year old George Butler had spent a considerable part of his working life in the Royal Air Force before retiring from engineering. He now has an active lifestyle and is also the Chairman of the local Bee-Keepers association along with his other interests, including keeping fit.
George has recently been looking at ways of improving his financial situation and maintaining his standard of living, but additionally looking at ways of helping his children financially. He therefore started looking into the possibility of equity release to help his situation. Fortunately, a close friend recommended him to Chris Chance – an independent equity release adviser with Equity Release Supermarket.
At first there was some trepidation as George saw the equity release market as ‘a minefield’. However, after spending much time discussing his personal and financial situation along with his future aims and aspirations, Chris recommended the Flexible Lifetime Mortgage from Hodge Lifetime.
This lifetime mortgage met his requirements perfectly, allowing George the initial cash lump sum he required whilst also providing a cash withdrawal facility from which further withdrawals could be made as needed.
George also liked the Flexible Repayment Option allowing repayments of up to 10% per annum of the amount borrowed, which he could utilise at any time after the first anniversary of the plan. This could help him reduce the roll up of interest and being an optional feature could be used as and when his circumstances allowed.
Not only that, but if George does decide to downsize and pay off his loan in full after 5 years, he can do so with no early repayment charge. This is another feature which Hodge Lifetime feel will be beneficial for many retirees in the future, as they decide to move or downsize as they get older.
Overall, George feels that taking out the Hodge Lifetime plan has really made a difference to his lifestyle. He has been able to meet all his aims and he now feels he has no ‘money worries’ for the future.
George was extremely happy with the service provided by both Equity Release Supermarket and Hodge Lifetime, which he felt was excellent.