Along with her two siblings, Mrs B had inherited a share in her late Mother’s property. Mrs B lives in the home with her husband, and wanted to explore the possibility of buying the siblings out from the home so she and her husband could continue to live in the property which they had made their home.
Aged 59, and with part-time income only, a traditional mortgage wasn’t available due to the affordability restrictions. However, after comprehensive research we were able to source a competitive Lifetime Mortgage on the property, which would allow her to release enough equity from the home to buy out her siblings and own it in her sole name. This allows her and her husband to remain in their forever home without the concern of needing to sell at any point in order to settle the borrowing.
With her new mortgage payments fixed for life, there was also welcome reprieve from the fluctuating markets we are currently experiencing too.