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Using a Lifetime Mortgage to make essential home improvements

Following a fall, Mrs Radford needed the use of a wheelchair and urgent modifications to the house were required. The narrow doorways and staircases at the Radford’s Cotswold home needed to be widened for Mrs Radford’s ease of movement.

The tax-free funds provided by the Lifetime Mortgage with drawdown facility, that Bower helped select, enabled Mr and Mrs Radford, who were in their late sixties, to make the essential modifications to their home, have a drawdown facility to help maintain their desired lifestyle and mitigate against the impact of Inheritance Tax.


  • Home value: £800,000
  • Remaining mortgage: £nil
  • Initial loan: £100,000 to enable essential modifications to the home
  • Drawdown facility: £100,000 to help maintain lifestyle


Potentially reduced Inheritance Tax liability.

A modified home that fits around their specific health requirements and restores a level of normality.

A supplemented retirement income helping to maintain their desired lifestyle.

A market-leading fixed interest rate.

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

The process

Provided our expert face-to-face advice.

Ascertained the suitability of Mr and Mrs Radford 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 Radford were entirely happy.

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

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