A Retirement Investment

This customer profile is an illustrative example inspired by a real consultation and outcome.

Turning a Dream into a Plan

At 70 years old, our customer owned a home valued at nearly £1 million on the South Coast of England. He was keen to purchase a lodge, attracted by its prime location and high rental potential. Beyond the investment opportunity, he wanted a place to enjoy during quieter periods.

Finding the Right Financial Solution

Initially, he explored hire purchase (HP) to fund the purchase. However, the repayments on £300,000 over a maximum of 7 years were unworkable given his retired status. Seeking a more suitable option, he chose equity release, or a lifetime mortgage, which allowed him to access the funds needed without monthly repayment pressures. The loan would only need to be repaid upon his passing or the sale of his home.

Making the Purchase Happen

The lodge was priced at nearly £390,000. With £90,000 from his savings as a deposit, he used equity release to fund the remaining £300,000. This approach allowed him to secure the lodge while keeping his financial commitments manageable.

Enjoying the Best of Both Worlds

Now, he’s the proud owner of a beautiful lodge, enjoying it during quieter times and benefiting from its strong rental potential. By choosing equity release, he achieved his goals without stress, combining leisure and investment in a way that works for his lifestyle.

Case Study Summary:

– Customer age: 70
– Property value: Nearly £1 million
– Lodge price: £390,000
– Deposit: £90,000 (from savings)
– Balance funded: £300,000 (via lifetime mortgage)
– Monthly repayments: £0 (No monthly repayments — loan repaid upon sale of house or passing)

Ready to Start Your Own Holiday Home Upgrade?

If you are looking to trade in an older model or purchase your first holiday home, we can help. Learn more about our competitive static caravan finance options, explore our tailored holiday lodge finance, or complete our quick online form to get a same-day decision in principle today.

Important Information about Equity Release:

Equity release and lifetime mortgages will reduce the value of your estate and may affect your entitlement to means-tested benefits. Sure Finance introduces customer requirements to specialist, authorized third-party advisers for equity release solutions.