‘Having the money in the bank takes a lot of pressure off’

Jackie, 68, from Cheshire, was looking to relieve some financial pressure from herself and her family since retiring from her job as a HR manager at a manufacturing company and ensure she could enjoy a comfortable retirement. ‘I had already downsized from a large family home when I first retired and bought my current (and last) property outright,’ she says. ‘As time has gone on I’ve found myself in the classic “house rich, cash poor” situation.’ She had been aware of equity release for a while, but until now it hadn’t seemed like the right time to commit. ‘In recent years I didn’t think the plans available at the time suited my circumstances. Then I started looking at the lifetime mortgage plans. I’d had an interest-only mortgage in the past and was happy that I understood how they worked,’ Jackie says. ‘I initially released £55,000 as I wanted to help my daughter and her partner do the renovations they need to make their house their forever home. I also want to update my bathroom and have my cataracts done privately! Having the money in the bank takes a lot of pressure off,’ she adds. Before going ahead with the decision, Jackie made sure she spoke to her loved ones first. ‘I discussed the plans with my daughter. I really wanted her to benefit from her inheritance now rather than after I’ve gone. I also talked to my brother and a couple of friends who were extremely supportive,’ she explains.