Equity Release advice for Beverley and Andrew. Both in their late 50s, Spain had always been their happy place. Every year, without fail, they booked a summer holiday on the Costa del Sol. They’d explored up and down the coastline, but one place always drew them back: Estepona.
A Holiday Habit That Became a Dream
The couple were creatures of habit. Same tapas bar on the corner, same stroll along the seafront, same ice cream stand with two scoops of pistachio for Beverley and a cone of strawberry sorbet for Andrew.
“Estepona just feels like home,” Beverley explained. “It’s got everything we love. A relaxed pace, stunning views and the friendliest locals.”
For years, they’d joked about owning a place there, but work, raising three children, and life’s other responsibilities kept it a dream rather than a plan.
That all changed one summer evening. While walking back to their beachfront hotel, they noticed a small block of apartments with sea views. One had a bright red “For Sale” sign on the balcony.
The asking price? Just €200,000.
“It was a lightbulb moment,” Andrew recalled. “We suddenly thought, ‘Why not us?’”
Doing the Maths
Back in the UK, Beverley and Andrew couldn’t stop thinking about it. Their own home was worth over £400,000, and with their children now independent, they started researching how to make a Spanish bolt-hole a reality.
Beverley pointed out something else: “It would actually save us money. Instead of paying for hotels once or twice a year, we’d just book flights and with Ryanair, it’s sometimes cheaper than a train into Manchester!”
How HFA Later Life Helped with Equity Release Advice
After hearing about equity release from friends, they reached out to HFA Later Life. An adviser explained how a lifetime mortgage could allow them to release funds from their UK home to purchase their Spanish apartment, while still owning and living in their main property.
The adviser walked them through the implications. From the impact on inheritance to exchange rate considerations and reassured them with the safeguards in place.
“We felt in control the whole way,” Andrew said. “It wasn’t about being sold something, it was about being given the information we needed.”
A Second Home by the Sea
Within months, Beverley and Andrew had their apartment keys in hand. Two bedrooms, a balcony overlooking the sea, and a short walk to the promenade they knew so well.
Now, instead of an annual holiday, they pop over every couple of months. Sometimes for a fortnight, sometimes just for a long weekend.
“It feels surreal,” Beverley said. “One minute you’re at home, the next you’re having breakfast looking out at the Mediterranean.”
Andrew added: “We’ve basically swapped a hotel bill for an airfare and we couldn’t be happier.”
Reflecting on the Decision
For Beverley and Andrew, seeking equity release advice wasn’t just about bricks and mortar. It was about creating a lifestyle that matched their dreams.
“After years of saying ‘maybe one day,’ we finally made it happen,” Beverley said. “And we’ve still got our family home in the UK too. It’s the best of both worlds.”
Thinking About Your Own Options?
Like Beverley and Andrew, you might dream of a holiday home, travel, or just more freedom in later life.
Equity release could be a way to unlock those possibilities. At HFA Later Life, we’ll help you understand your options clearly, so you can make the right choice for your future.
Visit www.HFALaterLife.uk to book your free consultation with a qualified adviser.
Important Notice:
Equity release includes Lifetime Mortgages and Home Reversion Schemes. We can advise and arrange Lifetime Mortgages and will refer to an approved specialist for Home Reversion schemes.
This is a Lifetime Mortgage. These are only applicable to those 55 and over, and it could affect eligibility to state means-tested benefits and the inheritance you may leave. To understand the features and risks, ask for a personalised illustration.
There may be a fee for mortgage advice. The precise amount will depend upon your circumstances and will be agreed with you before proceeding, but we estimate it will be £1,500 payable at completion for equity release products.
