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Case studies.

How we’ve helped our customers.

At Responsible Lending, we pride ourselves on delivering excellent customer service from the start to the finish of the equity release journey. We strive to ensure that you get the best out of your retirement and have helped thousands of customers fulfil their later-life dreams. Please see some examples below which illustrate how releasing equity has made a real financial difference.

Mr. and Mrs. Wood

Mr. and Mrs. Wood released £35,430 to settle an interest-only mortgage.

Nearing the end of the term for their current interest-only mortgage and concerned about repaying the capital sum, Mr. and Mrs. Wood approached an independent financial adviser to discuss the various options available to them. They saw a Lifetime Mortgage with Responsible Lending as their best solution, not only to pay off the outstanding mortgage but also to fund some long-planned home improvements.

With no proof of affordability required and no obligation to make monthly payments, Mr. and Mrs. Wood were able to have peace of mind in retirement with their mortgage settled and the right to remain in the property for life or until they move into long-term care.

With the drawdown feature, Mr. and Mrs. Wood were able to keep £6,000 in reserve for their planned home improvements. This provided them with the flexibility to complete the home improvements at their convenience, without accruing interest on this amount until the funds were released.

Mr. and Mrs. Burton

Mr. and Mrs. Burton released £480,000 from a property worth £2 million.

Understanding how difficult it is to get on the property ladder and knowing the considerable value in their home, Mr. and Mrs. Burton decided that they would like to help their son and his family purchase a property. The couple did not have the savings to cover the sum necessary but had read about the value of equity release.

They contacted a financial adviser to discuss their options and were recommended a Responsible Lending Lifetime Mortgage. This allowed them to release a tax-free lump sum to facilitate the purchase of the new property. Following the submission of the application and a satisfactory property valuation, Mr. and Mrs. Burton were able to release the full £480,000 necessary.

This was a fantastic opportunity for the couple to see their loved ones enjoy their early inheritance.

Following completion, Mr. and Mrs. Burton decided to make some repayments to reduce the interest roll-up. With a Responsible Lending Lifetime Mortgage, they were able to make annual payments of up to 10% of the loan amount without incurring an early repayment charge. As these are entirely optional repayments, they could start and stop making these payments at their convenience.

Please note, for the privacy of our customers we have changed the names of the customers in all of our case studies.