When the cost of live-in care became a concern, one family turned to us for compassionate, specialist advice. With the right lending solution, their parents were able to remain safely and comfortably in their own home.
A client came to us for advice to help her parents when they wanted to remain in their home despite health challenges. She shares her experience of how Steve Dale, our equity release specialist, helped with a lending solution that enabled her parents to achieve their wish.
Our client says: ‘MB Associates proved to be an invaluable resource and a pleasure to engage with. Our 95-year-old father and 86-year-old mother, both of whom are wheelchair dependent, are resolute in their desire to remain in their home.
‘Initially, they expressed significant anxiety regarding the introduction of a live-in carer; however, we were able to find an exceptional carer whom they wish to retain indefinitely.
The burden of care costs
She adds: ‘The financial burden of care services is considerable, prompting our parents to conclude that the only viable solution to secure their carer’s services was to release capital from their property.
‘MB Associates came highly recommended by a trusted friend. Accordingly, our parents requested a home visit and asked my sister and me to be present. Steve Dale, who is their later life mortgage specialist, demonstrated an exemplary level of professionalism, empathy, patience, support and care throughout the discussion, clearly articulating the process involved in obtaining this type of mortgage.
‘On receiving our parents’ approval to proceed, a property survey was conducted by the lender, and an independent solicitor arranged a home visit to discuss the legal implications with our parents. This meeting also included my sister.
‘The entire process was executed smoothly, with all parties involved displaying a duty of care, courtesy, politeness, and a commitment to assisting from start to finish. We extend our sincere gratitude to Steve for his support and guidance.’
Our equity release adviser Steve says: ‘For many people, as they get older and need assistance with day-to-day essentials, the thought of having to leave the home they have lived in for many years, which holds so many memories, to live in a care home is traumatic. It was a privilege to help this couple. I arranged finance to cover the cost of a live-in carer, meaning they could continue to live in the house they loved and have lived in for over 40 years, for as long as they are able.’
More Information
Equity release is a way for homeowners aged 55 or over to release tax-free funds from their homes without having to move. For more information, you can read our equity release guide.