Newspaper article The Journal (Newcastle, England)

Does Your Home Need a Facelift? We Can Help

Newspaper article The Journal (Newcastle, England)

Does Your Home Need a Facelift? We Can Help

Article excerpt

MILLIONS of people have dreams of moving when they retire - to the country, to the seaside or even abroad.

Yet when they actually reach retirement age, many decide they'd much rather remain in their local community close to family and friends.

They find they have more time to give their loved ones than when they were working, and they want to make the most of it.

Staying put may cost less than moving away, but your home may require a makeover by this stage. It may also need adapting to be more user-friendly as you get older. That can be cult to fund out of your pension and would make a big dent in your hard-earned savings.

One solution is to raise money from your home with an equity release plan.

A lifetime mortgage, for example, provides a lump sum to spend as you wish, with no repayments to worry about. The loan is only repaid when the house is eventually sold after death or having moved into long term care. Your loved ones still inherit the remaining equity. …

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