Dream boat purchased using equity release!

The reasons for taking out equity release range from those who need the money and those who want to finance a lifelong ambition or desire. The latter was the exact case for a gentleman from Hampshire who had wanted to buy his dream boat for over 15 years but was never in a financial position to be able to fund this. He was aware of the concept of equity release as a way of unlocking money from his property to use as he needed but had never seriously considered it as an option for himself.

When he came across a motorboat for sale in a local marina, he was determined that now was the time to make this dream purchase as it fulfilled all the requirements of his lifelong ambition. He sought the advice of a local financial advisor who suggested equity release as a viable option to raise the funds he needed but told him that it would take at least 6 months for the money to be released. That is when he contacted Kevin Woods, aware that he needed the advice of an equity release specialist and was delighted to hear that such a length of time was not always the case!

Having explained his personal situation to Kevin, detailing his desired purchase, the required funds and his financial long-term ambitions, Kevin agreed that equity release was the best option for him and discussed the details of what the process involved. The gentlemen did not have any inheritors to consider in his long-term financial planning and was happy for the interest on his equity release to roll-up with the full amount owing at the end of the lifetime mortgage to be repaid to the lender after the sale of the property. This gave him the financial freedom he was looking for, allowing him to purchase his dream boat and continue to enjoy the lifestyle he desired.

The process on the whole went smoothly and when the money was finally released, the gentleman was thrilled to be able to complete the purchase of the motorboat he had so longed to own. He was very happy with the service he received from Kevin quoting that he was most helpful, efficient and professional at all times. He would happily recommend equity release as a way of accessing the wealth tied up in your property to anyone who wanted to fund a lifelong ambition like him. He would also recommend the services of Kevin Woods who assisted him in the release of the equity tied up in his property a lot quicker than at first suggested.

Now, this gentleman is thoroughly enjoying the delights of sailing the seas, exploring new sights and relaxing in the knowledge that he finally achieved his dreams thanks to the amazing vehicle that equity release offered him. Happy travels to you all!

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Why not get in touch and see how we can help?

Equity release could be the answer to some of your financial questions. If you would like to know more about it, and see if it could be the right option for you, please book an appointment or request a call-back

Providers include

Pure Retirement

Equity release will reduce the value of your estate and may also affect your entitlement to means-tested benefits. You should always think carefully before securing a loan against your home.

Unless you decide to go ahead with a plan, our service is completely free of charge, as our fixed advice fee of £1,695 is only payable on completion of a plan.

A lifetime mortgage is the most popular form of equity release, and is a loan secured against your home that’s typically repaid when you pass away or go into long-term care.