Meet Thomas and Joy, a couple in their late 70s who have chosen to relocate near their three daughters after many years of moving for Thomas's career. After 20 years in their four-bedroom home, they are now considering a move to a two-bedroom apartment, prompted by Thomas's difficulties with garden maintenance and Joy's health concerns.
Their current annual income consists of Thomas's pension (£25,000) and their combined state pension (£23,004), amounting to £48,004. Although they have additional investments, they prefer to keep these for emergencies.
They have considered a financial solution that would involve renting out their well-maintained, mortgage-free family home. Local agents estimate the monthly rental income at £3,200, which would amount to £34,560 annually after fees. This rental income, together with their pensions, would raise their total annual income to £82,564, providing them with a solid financial foundation for their move to Birchgrove.
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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