Turning an empty apartment into new possibilities
How a Spry Finance Buy-to-Let Lifetime Loan helped James and Emily make the most of their retirement.
James (not his real name*) is in his early seventies and lives in Dublin with his wife, Emily. With two grown sons living nearby and a lively gang of grandchildren dropping in regularly, their home is rarely quiet – just the way they like it. After years of running his own business, James is now happily retired, and both he and Emily place huge importance on making the most of this stage of life.
Two decades ago, they made a big decision. They sold the family home and bought two apartments in the same neighbourhood. One for themselves, and one for their sons to share as they found their feet. It was the right move at the time, giving their boys independence while keeping everyone close.
But as the years went on, life moved forward. Both sons got married and settled elsewhere, leaving James and Emily with an empty apartment. Rather than let it sit idle, they decided to rent it out, creating a welcome stream of extra income.
Fit, active, and long time members of their local sports club, James and Emily enjoy a social, outdoorsy lifestyle. They also love to travel, squeezing in a couple of sun-chasing trips in the last year alone. Still, they’re realistic. As they grow older, they know that life can be unpredictable. They want to keep enjoying everything they can, while they can, and have the financial freedom to do just that.
That’s when James began looking at the rental property differently. He wondered if there was a way to unlock some of the value tied up in it, giving them more flexibility to enhance their lives now rather than later.
A little research brought him to Spry Finance and the Buy-to-Let Lifetime Loan – the only product of its kind available in Ireland. Intrigued, James reached out and arranged for a Spry Finance consultant to visit their home. From the very first conversation, they appreciated the clear, straightforward guidance.
They took their time, spoke with their sons and made sure everyone understood the plan. Six months later, feeling fully informed and completely comfortable, James and Emily decided to go ahead.
While they know they can make optional repayments to help manage the balance, they’ve chosen not to for now. Their longer-term plan is to sell the rental property when the time feels right, and repay the loan then.
In the meantime, they’re considering a few home improvements to make life easier in the years ahead. But their real focus is on the present – enjoying their retirement to the fullest, with the freedom and confidence to live life exactly the way they want.
* True customer case studies using fictional names