From debt to DIY– how £47,000 changed my life for the better
Once winter has passed, retired coach driver John Taylor will be preparing for spring, and days spent tending his garden.
If it rains, he’ll move indoors to do some DIY on the family home he’s loved for decades.
‘I’ve finally cleared all my credit card and other debts,’ says Cardiff-based John, 59. ‘And I’ve never felt happier.’
But just a year ago John’s situation was very different.
‘I was finding it hard to get work due to disability,’ he says. ‘I owed a lot on credit cards, and I had no idea how I could clear my existing mortgage.’ At one point John thought of selling his house and renting for the rest of his life.
That was when a leaflet from equity
release specialist Key landed on the doormat of his £220,000 Pontypridd home. ‘It said you could release money from your home without selling up – and you could stay there for as long as you want. ‘It was exactly what I needed.’ John rang the number on the leaflet, and an adviser from Key came round to explain his options. ‘The plan that he recommended gave me about £47,000 – and the money was there sooner than I thought. It was enough to clear my existing mortgage in full, pay off my credit cards and allow me to do everything I’d been putting off around the house.’
John has no monthly repayments to make, as his loan plus roll-up interest will be repaid when the plan ends.
‘Sometimes taking just one step is all you need to change your life,’ he says. ‘For me, the first step was to call the number on the equity release leaflet. Since then, everything’s changed for the better.’