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bigger textHow a the Lifetime Lease from Homewise could ease your debt worries
If recent media coverage is anything to go by Britain is fast becoming an extremely expensive place to live. In just the last year food costs have reportedly risen by 15.5%¹ the average council tax bill by 4%² and the average water bill by 5.8%³.
It would seem that our regular outgoings are set to keep rising on essentials such as food, energy, fuel and council tax.
Juggling an outstanding mortgage and/or other debts on a pension income is a struggle at the best of times but add that to the extreme hike in living costs and your situation could feel desperate.
According to research from Scottish Widows, the total debt held by UK pensioners adds up to an enormous £57 billion, so if you are in debt, you are by no means alone.
You might not have considered moving home as a solution, and in the current climate you might have doubts about this being the right time. However, it is the perfect time to purchase a Lifetime Lease.
The Lifetime Lease from Homewise will enable you to move to your perfect home at a huge discount. You could be looking to move to a smaller or newer property to reduce your utility bills, you might also want to move to a more convenient location so that you can cut back on the use of your car or make use of a free bus route. Because you pay much less to move into your next home on a Lifetime Lease you may raise a significant cash sum from the sale of your current property, which you can use to alleviate the worry of not being able to afford to maintain your standard of living through retirement.
For example Mr. and Mrs. Davidson both aged 74 were living in a property that sold for £300,000. They chose to move to a bungalow in Bournemouth with
a market value of £250,000. They received a 40% discount, which meant they paid £149,250 for a Lifetime Lease on their chosen bungalow and in the process freed up £150,750 to pay off their mortgage and enjoy their retirement.
For the last 30 years we have been helping people just like you move in an affordable and easy way. 7 out of 10 of our customers use the Lifetime Lease to pay off an existing mortgage or debt in their retirement. They have all enjoyed the same great benefits that the Homewise Lifetime Lease offers.
¹ (Daily Mail Cost of Living Index, May 2008)
² (Daily Express, May 2008)
³ (The Guardian, May 2008).
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