ASSISTING WITH CARE IN THE HOME - Equity Release Bournemouth

For free initial advice call:
01202 416856 or 07862 708429
Call: 01202 416856 or 07862 708429
Call Julia on:
07862 708429 or 01202 416856
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Case Studies
Here is Mrs Lockyer. She is:
• 82
• Widowed
• Lives in a property she has lived in for over 50 years worth: £950,000
Mrs Lockyer's husband died and now lives at home alone with her dog, Jack.  She feels safe and happy in her home and she doesn't want to part from the family memories built up there.  Unfortunately, Mrs Lockyer was diagnosed with Parkinson’s a few years ago and although very mentally stable, she is now unable to complete day-to-day tasks without the need for care.

The cost of her care at home is £1,400 per week. Mrs Lockyer does have her state pension, private pension and attendance allowance but still has a shortfall of £707 per week. That is £37,000 per year!  Her two sons have suggested to their mum that she should go into long term care, to gain the assistance she needs. However, Mrs Lockyer is adamant that she will continue to stay at home with her dog for the rest of her life.  


One of Mrs Lockyer’s sons set up a meeting with his financial adviser to talk about the options available for the circumstances. The financial adviser explained to the family that equity release in the form of an Enhanced Lifetime Mortgage with the feature of a ‘cash reserve facility’ is a great option for Mrs Lockyer.  Mrs Lockyer took an initial amount of £20,000 and then drew down around £18,500 every six months to meet her care costs.


After living the next couple of years without the need of going into care, Mrs Lockyer sadly passed away comfortably at home as she wanted with Jack. The total amount Mrs Lockyer owes to the Equity Release provider upon her death is around £119,000. However, the value of her house has gone up to £1,100,000, so her two sons still have a worthwhile inheritance after the sale of the property. They are very grateful as the lifetime mortgage meant their mum got to be happy and secure until her passing.

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Address:  7 Ravine Road, Bournemouth, BH5 2DT
Phone:  07862 708429 or 01202 416856

The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.  Dorset Financial Planning is a trading style of Julia Crump, which is an appointed representative of TenetLime Limited, which is authorised and regulated by the Financial Conduct Authority.  TenetLime Limited is entered on the Financial Services Register ( under reference 311266. Principal: Julia Crump.
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