Customer Case History – Aisling

Aisling (not her real name*) is in her early sixties and has lived in the same spacious home for more than twenty years. The house sits on three quarters of an acre, backing onto a landmark lake, and it has been the backdrop to countless family memories. Her four children grew up there, and her ten grandchildren now spend hours exploring the big back garden whenever they visit.

Aisling has never wanted to leave. The rural setting suits her, and the quiet road leading to the house feels like part of its charm. But life can change unexpectedly. When her marriage ended, the home she loved suddenly felt less secure.

To remain in the house, she needed to buy her ex-husband’s share. During the divorce process, an additional debt also surfaced, which would need to be repaid. After years spent caring for a family member, Aisling had no savings or assets to fall back on. Meeting these costs felt almost impossible.

She soon discovered what many people in similar situations do. Traditional lenders are often slow to lend to those over sixty, even as Ireland’s ageing population grows significantly. It was, she says, one of the most stressful periods of her life. As the reality set in, she began to fear that selling her home might be the only option.

Aisling is not opposed to downsizing in the future, but she knew this was not the time. Her friends and neighbours were nearby. Her family lived only fifteen minutes away. Most importantly, she wanted her grandchildren to enjoy the garden while they were still young.

When things looked most uncertain, a financial advisor suggested she consider a Lifetime Mortgage from Spry Finance. It was the first time she had heard of it, and it marked the beginning of her Spry Finance journey.

A Spry Finance Customer Consultant visited her at home to explain the product in clear, simple terms and to help her understand whether it could meet her needs. Because she had significant equity in her property, applying for what she required was straightforward.

Aisling says she found Spry Finance easy to deal with and felt fully informed at every stage. She spoke with her solicitor and an independent financial advisor. She also discussed it with her family, who were completely supportive of her taking this step to protect her home.

Once the loan was approved, she was able to buy out her ex-husband’s share and repay the outstanding debt. She is now the sole owner of her home, and its future is entirely in her hands.

Aisling plans to use Spry Finance’s optional repayment feature to help manage her loan balance. She will make monthly interest repayments and can choose to make additional capital repayments of up to ten per cent of the original loan amount each year without any penalties. When the time comes to downsize and begin the next chapter of her life, she can apply to transfer the remaining loan to her new property.

She now has the stability she needs, along with the reassurance that the home she loves remains truly her own.

^{* True customer case studies using fictional names}

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