At Hayes Finance, we know that retirement does not mean standing still. For many clients, it is a time to finally enjoy the home they have worked hard for, make the improvements they have been planning, and invest in the lifestyle they have earned. But when traditional lenders say no due to age or income, it can leave people feeling stuck.
In this case, we were approached by a 75-year-old client who wanted to release equity from their property in order to enjoy a more comfortable and independent retirement. With the right product and the right guidance, we were able to help them unlock £100,000 tax-free, with no need for monthly repayments and no impact on their home ownership.
The Client’s Situation
The client, aged 75, had a modest part-time income supported by the State Pension. They were living comfortably in their own home, valued at £250,000, but had several clear financial goals they wanted to meet.
These included:
- £35,000 for home improvements
- £30,000 to purchase a new car
- £35,000 to top up their savings and enjoy more flexibility in their day-to-day lifestyle
Altogether, the client wanted to release £100,000 in equity. However, with limited income and a desire to avoid monthly repayments, a traditional remortgage was out of reach. The high street was simply not an option.
What the client needed was a solution that allowed them to stay in the home they loved, access the funds they needed, and retain ownership without taking on financial stress or ongoing commitments.
The Challenge
Many clients in later life find that the standard mortgage market is not built with them in mind. Most lenders use strict affordability criteria that rule out older borrowers unless they have a significant ongoing income. Even then, lenders tend to cap maximum ages and impose restrictions that can feel disheartening.
In this case, the client was not looking to overextend or take on unnecessary borrowing. They simply wanted to access some of the wealth they had built up in their home to enhance their quality of life in retirement. The challenge was finding a product that allowed for this without creating financial pressure or requiring monthly repayments.
The solution needed to be flexible, compassionate, and entirely tailored to later life.
Our Solution
After a detailed conversation about the client’s priorities and future plans, we recommended a Lifetime Mortgage through Pure Retirement.
A Lifetime Mortgage is a type of equity release designed specifically for clients aged 55 and over. It allows homeowners to release tax-free funds from their property while retaining full ownership. There are no required monthly repayments, as the interest is typically rolled up and repaid when the property is eventually sold.
For this client, we selected the Pure Retirement Classic Lifetime Mortgage (Interest Roll-Up) product. This provided a clear, fixed lifetime interest rate and the ability to release all the funds upfront, meeting every one of their financial goals in one move.
We structured the case as follows:
- Property value: £250,000
- Loan to value: 40 percent
- Advance: £100,000 released tax-free
- Interest rate: 6.99 percent fixed for life
- No monthly repayments required
This structure gave the client immediate access to the full £100,000 they needed, with the peace of mind that they would not be asked for monthly repayments or risk losing ownership of their home.
How We Managed the Process
We know that taking out a Lifetime Mortgage is a big decision, and it is vital that clients feel informed, supported and never rushed.
From the very first conversation, we took the time to explain how equity release works, what the long-term implications might be, and what safeguards are in place to protect the client and their estate. We ensured they had access to independent legal advice, and we supported them in asking all the right questions.
Throughout the application, we liaised closely with Pure Retirement and worked with the client’s solicitor to make the process as smooth and straightforward as possible.
Our team stayed in close contact, keeping the client updated at every stage and ensuring they felt confident in their decision. This was not about pushing a product, it was about providing the right advice for the right situation, and helping someone achieve a better quality of life without compromise.
The Outcome
✅ £100,000 released tax-free, giving the client full freedom to meet their financial goals
✅ Home improvements funded, transport upgraded, and savings topped up
✅ No monthly repayments required, offering true peace of mind
✅ Full ownership of the property retained, with a clear long-term structure in place
“First, I would like to thank Hayes Finance for all their help and hard work in securing a great deal for me. Really good, would use Hayes again. “
Equity Release Client
This case is a brilliant example of how equity release can be used positively and responsibly. Far from being a last resort, Lifetime Mortgages can offer older homeowners the flexibility to make their retirement work for them; with confidence, clarity and control.
Planning for Later Life
If you are considering equity release, or simply want to explore your options, the most important thing is to speak to a qualified, experienced adviser who takes the time to understand your needs.
At Hayes Finance, we are proud to offer advice you can trust. We help clients and their families make informed decisions, backed by careful planning, strong lender relationships and a personal approach.
We do this every day. We live and breathe this stuff.
When the computer says no, give us a go.
For more guidance on Lifetime Mortgages and equity release, visit
www.hayesfinance.co.uk/equity-release
