1

Client’s Situation

Client contacted MCB Lifetime at a loss of how to proceed.  Due to previous credit issues with their old mortgage, that had arisen as a result of her husband unexpectedly retiring due to ill health, they were struggling to find any way of raising funds for home improvements desperately needed in their home.  The client had been to their bank and spoken to another adviser but to no avail.  The enquiry started out as a standard mortgage enquiry.

The Solution

All MCB Lifetime advisers are qualified and experienced in both standard mortgages and Equity Release, conversations were therefore had about all available options without the need for a referral. Client had an extremely cautious view of Equity Release, believing it to be high cost and very restrictive but with our knowledge and experience of the market, MCB was able to educate the client and recommend an ideal solution that offered flexibility and comparatively low cost when options from regular mortgage providers would have been either non-existent or high cost due to the adverse credit.  The client had the option to make regular or ad hoc payments on the arrangement and can ultimately repay the loan in full over a period of 12-13 years if they so desire.  It was this flexibility that really appealed to the client.