The Covid-19 pandemic has been challenging for people in many different ways, including Evadne’s son who moved in with his mother and, having rented his whole life, had practically given up any aspirations of owning property.

Having already downsized after the death of her husband, Evadne thought she was limited in the financial help she could offer until she looked into lifetime mortgages. While her son was initially concerned about the impact this would have on Evadne’s plans in later life, she explained that she would sell the property if she had to go into care.

Taking an optional payment lifetime mortgage meant her son could pay the interest each month. For Evadne, it was the perfect solution. Her son was able to put down a deposit on a house, enabling him to relax and move on with his life. Evadne was able to remain in the home she loved while supporting her son in regaining his independence. She also bought a new boiler, updated her lounge, and has kept some money back for a couple of holidays including a special trip to Montenegro. It was a place her husband had always wanted to visit but wasn’t able to before he passed away. “I feel as if I’m going for him. I call this stage of my life, my third adventure, not retirement.”

This case study was supplied by Legal & General.

It was first published in the Council’s Anniversary Report in January 2022. To read the report please click here.