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Using a Lifetime Mortgage to save a family business

Mr and Mrs Green, both in their seventies, needed to access some of their housing wealth to help save their business. The bank had reduced the company’s credit facility. This restricted their business operation and as turnover decreased the credit facility dropped again leading to a downward spiral.

The Greens had debts of £237,000 including a mortgage, secured loan and a loan from a close friend.

We helped by recommending a Lifetime Mortgage with flexible servicing options. This consolidated all their debts, eased the need to be answerable to the bank and reduced their outgoings.


  • Property value: £850,000
  • Debts outstanding: £237,000
  • Reduced credit facility was causing a snowball effect and hampering their business
  • Turnover was reducing and the business was in real trouble
  • Debt was mounting up from several different sources


  • Amount released: £250,000. Full debt clearance.
  • Drawdown facility of £50,000. Peace of mind to protect the family business.
  • Existing mortgage and all other debts consolidated.
  • Flexible servicing of the Lifetime Mortgage vastly reduced the Green’s outgoings.

The process

Provided our expert face-to-face advice.

Ascertained the suitability of Mr and Mrs Green for Equity Release whilst making it clear how the plan would reduce the value of their estate and could possibly affect any eligibility to state benefits.

Only proceeded when Mr and Mrs Green were entirely happy.

Researched the entire market to find and recommend the most suitable plan.

Recommended a Lifetime Mortgage from an Equity Release Council registered provider that delivered exactly what they needed.

The clients now enjoy.

Consolidated debts which are far easier to manage.

A product which enables serviceability to give them the financial flexibility they craved.

The peace of mind knowing they can stay in their home for life.

The funds to help protect the family business.

A market-leading fixed interest rate.

A solution incorporating the Equity Release Council’s comprehensive safeguards and guarantees.