Patricia Davies lives in Kent, a widow who bought her house after her husband passed away. Patricia, 77, had an interest-only mortgage, which wasn’t due to finish until she was aged 90 and because the interest was increasing she was concerned. She had previously looked into home reversion plans but was unsure about taking one out until they became regulated in April 2007.
Last year she contacted a financial adviser, and after assessing her needs they recommended a home reversion with Bridgewater Equity Release. As with all equity release products, Patricia was recommended that she talk to her family and discuss the home reversion plan along with the advantages and disadvantages of taking such a plan. Patricia has five children, four of whom own their own homes, she discussed her plans with them and they were happy for her to go ahead with the reversion.
Patricia completed her flexible release home reversion plan from Bridgewater late last year. The money Patricia released enabled her pay off her mortgage, credit cards and a bank loan. She was also able to book a holiday and can now comfortably live off her pension as she no longer has any debt to service.
Patricia said:“The service I received was excellent from start to finish . Having discussed my plans with my family I now have peace of mind and would recommend the Bridgewater plan to others. “
Kindly provided by BRIDGEWATER EQUITY RELEASE