How Peggy used the Property Plan to move in with her sister

Peggy is 70 and recently widowed. She would very much like her sister to come and live with her for company. However, she would like to build a self contained extension for her to live in.

Peggy owns her home worth £125,000, outright. She would like to raise as much as she can to make these changes to the house. However, she is unsure of using her home to borrow money against, as she hates the idea of debt. She is also worried about the property market, because it has risen so fast and she fears a crash in coming years.

However, after talking to her financial adviser, Peggy likes the idea of the Retirement Plus Property Plan because there is no mortgage and there is a certainty of knowing what share of her home will still belong to her at anytime in the future. In addition, Retirement Plus would value the property after the improvements had been made enabling, Peggy to get a greater advance of cash, enough even for her to go away for a holiday while the work is being done.

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Check that this Property Plan, a type of home reversion plan, will
meet your needs if you want to move or sell your home or you want your
family to inherit it. You should always seek independent financial and
legal advice. If you have not retained a Protected Share we may end up
owning a 99.90% share of the property