Case Studies

Name:Mrs P
Age:57
Marital status: Married
Location:Warwickshire
Type of Plan:Complete Sale - Rental Home Reversion Plan

About 2 years ago Mrs. P and her husband had begun to consider their financial situation. Both had come to the end of their working lives and were beginning to contemplate life without the security of a regular income.

It was then they began looking for a safe and flexible way of releasing the equity that was tied up in their most valuable asset - their home. The couple decided that it would be sensible to have financial security and to be able to enjoy their retirement and the assets they had built over their lives with their two daughters now rather than waiting.

"We shopped around for a long while looking for the correct plan before we settled for SYH Charterhouse. Other providers either felt I was too young to qualify for their schemes or simply did not offer to release enough of the equity tied up in the property. When we came across the SYH scheme we found them to be transparent, helpful and informative. They answered all our questions, outlined all the possible connotations associated with signing up to this particular plan and even paid the solicitors fees. We were particularly pleased with the valuation of the property which, based on our own research, reflected its market value and in the end we opted for a complete sale."

The plan allowed the P’s to fulfil a long-held ambition to travel and even helped buy their daughter a new car while also removing the day-to-day worry of paying bills.

"We have actually managed to put some of the money aside into an account where the interest accrued will go a long way to meeting the small rental payments we have to pay to SYH Charterhouse. They have taken over responsibility of the maintenance of our home which has meant that we have made a saving on our household insurance policies and our negotiator Allen is in regular contact with us to check everything is ok with the property. The plan has afforded us a level of comfort we always wanted when we reached this stage of our lives."

Name:Ms B
Age:60
Marital status: Lives Alone
Location:East Sussex
Type of Plan:Complete Sale - Rental Home Reversion Plan

Ms B came to SYH Charterhouse in slightly unusual circumstances. Having almost gone ahead with an unregulated sale and rent back scheme she found that she was on the verge of losing her home to repossession. Her mortgage payments were spiralling out of control and there was no way for her to meet the crippling costs, leaving Ms B deeply worried about her future.

It was then that she came across an advert for SYH Charterhouse in a national newspaper and approached them for help. SYH Charterhouse was able to provide Ms B with a home reversion plan that allowed her to stay in her home and pay an affordable rent.

"The whole situation was a complete mess. I was involved in legal procedings and facing eviction. SYH Charterhouse provided a viable alternative that worked for all parties. Despite my case being a particularly complicated one they were able to simplify matters, guide me step by step through the reversion process, and more importantly ensured that I was able to stay in my home at a very reasonable rental rate that is more or less covered in my current pension provision. I am also safe in the knowledge that SYH will ensure any necessary maintenance to the property is carried out. My contact Daryl was extremely helpful throughout the whole process and I will always be grateful for the reassurance that he and SYH Charterhouse provided - at what was a very stressful time for me".