Case Study
Mrs Jenner*, Hastings
Mrs Jenner, 82, swapped a 53.33% share of her £120,000 seaside home for £64,000 with a Retirement Plus Property Plan. Mrs Jenner also opted to keep a special, protected share of 5.97% of the property’s value. She then went on to make a series of home improvements including refitting her kitchen and having double-gazing installed. She then had her house re-valued and found her improvements had increased it by £7,500.
Fair's Fair
The inbuilt flexibility of the Retirement Plus plan and our fair’s fair attitude, meant that we changed our share from the then 56.04% to 52.93% and so re-valued Mrs Jenner’s protected share from 5.97% up to 11.50% to fairly reflect the work that she had undertaken.
Her broker says
“Retirement Plus treated Mrs Jenner extremely fairly; they recognised the work that she had done to her house and she was compensated accordingly. With the increased share in her home it means that she can decide to sell her house and be entitled to a larger percentage of the sale than she would have had before. The important thing is, Mrs Jenner is a very happy lady and doesn’t want to sell – it’s all worked out very well.”
John Tudor, NHFA