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| Lifetime Mortgage – Interest Only – Equity Release – Home Reversion |
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A RETIREMENT INTEREST ONLY
(RIO) Mortgage was a lifestyle choice for Barry and Anne Marie
With many of us now living longer and wanting to maintain the lifestyle we aspire to well into our golden years, financial planning has never been more important. The wish list might include looking to purchase a dream retirement home, travel more, or simply reducing costs to enable people to stay in an existing home. The stories we hear from our members reflect this changing world.
Beverley Building Society members, Barry, and Anne Marie, wanted to keep enjoying the home they have worked hard to build for many years, and we are incredibly grateful that they were happy to share their experience of taking out a Retirement Interest Only mortgage with the Society.
"We had a mortgage on this house, which was only valid until earlier this year, by which time we had to have it paid off. Unfortunately, we couldn't afford to pay it off without selling the house." Barry told us.
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The couple did not want to be forced to downsize. They wanted to stay in a home they loved and have the peace of mind that they could remain there until the time was right to move on.
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| Initially, the couple tried to find a solution with their existing mortgage provider, a large national organisation. But despite a solid track record of meeting their past mortgage payments, the couple's application came to nothing, and they felt completely demoralised. |
Luckily, the couple's financial advisor decided to do some research and came across Beverley Building Society. After considering their ages and available options, the advisor felt that the Beverley was the best choice.
"We didn't think somewhere like the Beverley Building Society existed." Explained Anne Marie. "Barry does fell running and is still fit and healthy. Beverley Building Society didn't pigeonhole us. They understand that one size doesn't fit all."
The Society's common-sense approach to lending through personal underwriting, and a commitment to understanding members' individual circumstances ensured the right outcome for Barry and Anne Marie.
Beverley Building Society specialises in mortgage cases like these that cater for non-standard requirements and benefit from the personal touch, because we understand that each customer is different. With no credit scoring, our strong team of in-house underwriters are extremely experienced and spend the time to understand each individual circumstance.
As well as securing a mortgage, which means they no longer have to find a new property and sell up, Barry and Anne Marie were also impressed by the excellent level of service provided by the mortgage team, which was in stark contrast to their previous lender.
Barry continued: "Automated services are so painful and they're for the convenience of the company, not the customer. It was reassuring to know that, with the Beverley, we could pick up the phone and speak to a human being. And when we did speak to someone, they were pleasant and answered our questions quickly."
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"One phone call and someone picks it up straight away. They have time to deal with you and your query." he added.
Although the couple found the process straightforward, our mortgage team was on hand whenever they did have any questions. "When we're all fed up with this Al malarkey, this is the way things will move." explained Anne Marie. "We were very happy with the outcome and the service we received from Beverley Building Society."
Beverley Building Society offers both an Interest-Only and Retirement Interest-Only (RIO) mortgage to help you lead the lifestyle that's right for you in a cost-effective way, while still ensuring a legacy for those you love. |
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