Not available in the high street – July 201903-Jul-2019

By Philip H Yates, Consultant: Mortgages & Equity Release

As we enter July with the prospect of some great weather, it is time again for me to share a couple of case studies illustrating what services we can offer to our clients.


Retired and moving home
Eric & Mary are both retired and in their seventies. Eric has difficulty climbing stairs, so they decided to move to a bungalow. Having spoken with their bank and also a local building society (where they have savings), they discovered that neither were prepared to offer them a new mortgage.

Eric & Mary were obviously disappointed and thought that their plans to move home were at an end. However, their solicitor mentioned to them how we had been able to help many couples in their situation through our independent mortgage services. As it turned out, they only needed a small mortgage. I was able to arrange this for them on a long-term basis with monthly payments that were easily affordable from their pension income.

Re-mortgaging and removing an ex-partner
Robert needed to re-mortgage his home to remove his ex-partner from the mortgage and to put the property solely in his name. His income was not sufficient to cover the mortgage amount, so he and his father applied for a joint mortgage. As his father already owned a property there could have been liability for stamp duty, however the lender we sourced was happy to accept that the property title would only be in Robert’s name.

These are a couple of examples where our independent mortgage advice provides solutions to meet our clients’ requirements. We have access to a multitude of mortgage products which enable us to assist our clients with their varied mortgage needs whether they are employed, self-employed or retired.

If you would benefit from a free no obligation initial meeting, or if there is anything else you would like to discuss then please get in touch with our Independent Financial Services team on 01244 356 789 or email info@cullimoredutton.co.uk

Please note: This is not financial advice; it is intended to provide information of general interest about current financial issues.