Funding the freedom to do what you want
Meabh thinks in terms of freedom, as well as security – she wants a fund to meet the expenses that come with her independent frame of mind.
Meabh (not her real name*), in her 80s, lives comfortably in a three-bedroom house in South County Dublin, where she moved nine years ago after deciding to downsize.
For Meabh, financial security has always meant more than just covering the essentials – it’s about having the freedom to live life on her terms. When she downsized, some of the difference in value went towards her pension and some into renovations on her new home. But she also started thinking about how nice it would be to have a little extra flexibility – to do more of what she wanted, when she wanted.
Meabh saw an advert for Spry Finance on television and decided to give them a call. She arranged a visit from Nigel, one of Spry’s Customer Consultants, who took her through the details, explained everything clearly, and answered all her questions.
Meabh didn’t rush her decision. She spoke with her solicitor and accountant, then talked it over with her family. She made sure she fully understood how the Spry Lifetime Mortgage worked. Taking that extra time meant she felt completely comfortable with her choice. Her view is that she’s worked very hard for what she has – she should be able to enjoy it.
A Spry Lifetime Mortgage is contingent on the value of the property on which it is secured. As Meabh’s house has a value of around €600k, she was able to draw down around 30% of that value.
* True customer case studies using fictional names