Moving Home & Keeping your Mortgage

The Story

Mr Reed* requires a loan of £78,000.

Mr Reed and Mrs Sands originally took out equity release in 2014 with the intention of making their retirement more comfortable. Unfortunately, in 2017 Mrs Sands passed away, leaving Mr Reed struggling with the upkeep of their home whilst surrounded by memories of his late partner, which he understandably found to be increasingly painful.

Mr Reed concluded that he would like to purchase a new property thus relieving himself of the painful memories that he associated with his old property.

What We Did

Mr Reed was unsure whether he would need to pay off his loan to move. This was when Pure Retirement was contacted by Mr Reed’s daughter who was assisting him with the move. Pure Retirement reached out to Mr Reed and informed him that he could indeed move the £78,000 loan to the new property without incurring any early repayment charges.

The Result

The whole process was complete within 4 months, and Pure Retirement ensured that a completion of the port went through in conjunction with the move. Thanks to Pure Retirement, Mr Reed was able to move his loan of £78,000 to the new property and is now settled comfortably in his new home.

*Client names have been changed to provide anonymity. We cannot give any assurances that applications outside our lending criteria will be approved.