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.