Expert advice from StepChange Financial Solutions
During a conversation with a mortgage advisor at his local building society, Gareth was referred to StepChange Financial Solutions. He called and spoke to Richard, one of our expert advisors.
How a lifetime mortgage works
After carefully reviewing all of his options, Gareth decided that a lifetime mortgage was the best equity release plan for his situation.
A lifetime mortgage allowed him to release a cash lump sum, without having to make monthly repayments and keeping 100% ownership of his home. The mortgage and accrued interest will be paid back when the home is sold.
Unlike other providers, there were no advice fees to pay and no hidden fees with us. The advice we gave was unbiased, since our advisors don’t work to sales targets, or receive bonuses or commissions.
Releasing the equity in his home has changed Gareth’s life
Gareth used the money secured through equity release to pay off his mortgage and make some improvements to his home. He also decided to start a new catering business, helping him move on from a difficult time and give him some financial security.
“Richard gave me the confidence to go ahead. I knew that my home would be safe for myself and my children.”
Straight away I paid off my mortgage, but there was extra money left over which I decided to take. That was handy because I did need some work doing on the house.”
Why Gareth recommends StepChange Financial Solutions
With his home secure, and the business taking off, Gareth’s life has been transformed. He doesn’t need to worry about the mortgage, and he’s finished the work on his house. His new business means he also has more time to spend with his teenage sons.