Our client was determined to see her daughter get onto the property ladder. Her daughter was struggling to raise a significant enough deposit to buy her own home. Our Client used an Equity Release to release £200,000 in order to provide her daughter the required funds. Both our client and her daughter are extremely happy that she is now a home owner.
Having put down such a healthy deposit helped her daughter secure a lower mortgage rate on her new home which has made it a more affordable property to live in.
As our client’s estate is expected to be subject to inheritance tax there was the potential added benefit in this scenario of reducing the anticipated inheritance tax bill.