Meet Bea, an 87-year-old from Yorkshire who made a significant life change to be nearer to her family. Following the passing of her husband and a fall that necessitated daily care assistance, Bea relocated to a one-bedroom flat in Surrey, bringing along her beloved cat.
Her current annual income comprises combined pensions of £17,872 and Attendance Allowance of £5,644 (a secure, non-means-tested benefit for those requiring care), amounting to £23,516. Her Yorkshire home, valued at £575,000, could yield £28,750 annually if the sale proceeds are invested at a 5% return, raising her total potential income to £52,266.
To bridge the remaining gap, Bea's son John, who lives and works in Surrey, has offered to be her guarantor and contribute up to £1,500 a month towards her living costs.
We hope you have found this example useful in helping you to consider the various funding options available. We recommend that you meet with an independent financial advisor to discuss your specific circumstances.
You will have access to the Birchgrove Moveasy service on payment of the one-off joining fee. The Moveasy service is administered by hand-picked partners on behalf of Birchgrove and provides a tailored service to your individual needs, including access to a financial planner.
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