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THE BRADLEY FAMILY CASE STUDY
John and Alicia Bradley made the move to Prestatyn 15 years ago and realised their dreams of a place by the sea. John, aged 70, planned to finally hang up his working cap and enjoy the fruits of his labour. However, they still had a mortgage hanging over them and didn’t know how to pay it off.

Enjoying retirement

“I’d worked hard as a cleaner in a large factory close to where we lived for many years and it was becoming increasingly tough going, the older I got. We were stuck with a mortgage that had to be paid off, so I couldn’t afford to stop working. I finally retired at 68, which was when we started to look for a way to clear some of our debts and make life easier” John explained.
 

“We took out a drawdown lifetime mortgage and released £33,000, which paid off our £20,000 mortgage and cleared all our credit card debts. It was a huge relief and left us with a lot more money each month to spend on enjoying our well deserved retirement."
 

“We discussed our decision to release the money with our two sons and they told us to go for it."
 

“Alicia has a sister who lives in Australia, so we’ve also used the money to book an eight-week trip. She’s not seen her in a few years, so it’s fantastic to be able to visit her and have a holiday at the same time. Life has become so much easier.”
 

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