Home improvements – Charles & Liz

The clients

Charles and Liz were in their early 70s and late 60s. They had just moved to a townhouse in Cheltenham, which was in need of some renovation.

They wanted to raise funds to improve the property and got in touch with us through an online enquiry.

 

The property

A 3-bedroom Victorian semi-detached townhouse in an up-and-coming area of Cheltenham, valued at £300,000.

 

The solution

We recommended a lifetime fixed rate mortgage. The maximum loan was not needed, so we tailored the amount to the interest rate, in order to give Charles and Liz the most cost-effective loan.

 

The stats

  • Property Value: £300,000
  • Loan Amount: £87,000
  • LTV: 29%
  • Lender: More 2 Life
  • Rate: 4.85%
  • Free valuation and arrangement fee

What Charles and Liz said

“We had recently moved to a lovely townhouse in Cheltenham which needed renovating. Steve came to see us and took us through our options with our eldest son. He arranged a lifetime mortgage which gave us the funds we needed, provided a gift to our two sons and left us with a financial buffer. There were a few underwriting issues as Charles still ran a part-time business from home and as we had only moved into the house in the previous three months, for some reason there was an issue with Liz’s identity. Steve took these problems away and resolved them with the underwriters when we were just about to give up. Great service.”

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