Retiring now – Ken and Heather


Ken and Heather own a £1 million house in Maidenhead, with no mortgage.

Ken was 77 when he came to us for advice. He was working as a gardener, but due to his age it was taking him longer to complete projects and he was therefore losing contracts. Heather, aged 71, was a receptionist in a local doctor’s surgery, but wanted to leave.

The couple had a collective employment income of £15,000 per year, which was supplementing their state pensions. Heather also had £25,000 in her pension pot.

The couple were grandparents to three children under five and wanted to spend more time with them; enjoying them whilst they were young and supporting their own children whilst they were at work. However, Ken and Heather felt they were unable to give up work because of the income required to maintain their minimal lifestyle.

What we did

We secured a lifetime mortgage with a repayment rate of 3.84%, which was fixed for the life of the mortgage. The couple then had £200,000 in reverse facility to draw on in the future.


Ken and Heather were able to stop working. As a result, they can now spend more time with their grandchildren and help their own children out with reduced childcare costs. They even took the whole family on holiday to celebrate!

Their financial plan has provided peace of mind for three generations. The couple’s children will inherit around £650,000 in 30 years’ time if house prices remain static.