Our client was asset rich but cash poor, a saying that I often hear. They lived in a beautiful home that they looked after like a palace. However, they now needed some work to the property to make it more comfortable for them. They had no desire to move and they were concerned about their diminishing savings and low income. They also advised that they hadn’t been on a holiday for a long time and really wanted to go on a little jaunt somewhere in the UK.
We calculated how much they needed for the works that they required.
We arranged a facility that they could have just enough funds released for the works that they required. We also arranged a drawdown facility that they could use when they had expended their savings. This would allow them to top up their income in the future to ensure they could go on any little jaunts they wish to enjoy.