Thank goodness the sun is shining and the UK is looking so wonderfully sparkly right now, it certainly helps to take the chill out of my post holiday blues.
If only we’d booked another week!
We all agreed that this would have been a most sensible move and, as we whiled away our last day of Palm trees, Pools and Prosecco we began dreaming of the days when we will be free to hop on a plane at any time (more than once a year) and grab some much needed vitamin D. No offence kids!
We’ve never before noticed the fact that certain neighbours of a certain age seem to disappear from the village for a few weeks at a time and then reappear in the pub the following month looking all bronzed and relaxed. Just recently however we seemed to have clocked the comings and goings of our free spirited, sun drenched neighbours, not in curtain twitcher/nosey neighbour kind of way of course but more with a sense of longing. Is it possible that we too will one day be in a position to partake more regularly in those plunge pools and palm trees.
Of course, while I personally prefer to focus on the dreamy side of owning my very own place in the sun, imagining myself cycling to the local bakery with my skirt billowing in the gentle breeze, watching the sun set on the beach and enjoying beautiful meals by the sea, I am quite rightly brought right back down to earth when my husband reminds me of the ever so small matter of finances. Ah!
And whilst there are of course some people in the wonderful position of being able to fund a second home in the sun without batting an eyelid, for most of us it’s not that easy. Unless of course we bag that elusive lottery win. So, it’s no surprise to hear that many people are turning to Equity Release as a route to funding their little piece of the paradise.
Over a glass of red in the local pub we got chatting with some of our earlier mentioned bronzed villagers who were more than happy to share their insights. “ We’ve got the best of both worlds; a home in the UK where we enjoy the warmer months when everyone else is off abroad and then when things turn a bit chilly here we’re off to the med for some winter sun.” they were very happy to share the fact that they had used equity release to buy their Spanish property outright and had never looked back.
“Friends of ours told us how they had used equity release to fund the purchase of their second property abroad and so we decided to look into it. The beauty is that the money released is all tax-free and we have no monthly payments to make. We now spend 8 months in the UK and around 4 months in Spain.”
When we asked what their children thought about them releasing equity from their home they simply laughed. It turns out the children and grandchildren use the apartment almost as much as they do. “We love being able to share the place with them and we have great family holidays out there together. We do need to remind them occasionally that we’re first in line for once and that our dates come first!” The family it turned out were delighted at the prospect of having a place to holiday and genuinely happy that their parents were really enjoying the retirement they deserved.
So, whilst it’s a few years yet before we can ship the younglings off to university and pack our kits bags that bit more often, we most definitely have our retirement sites set on doing our own disappearing act to the sunshine.
Here’s to strutting our own winter tans around the village more often! Tempted?
If you have any questions about equity release, please get in touch with us on 0800 612 6755.
Thanks for reading, we look forward to hearing from you.
*Please note that Equity Release is a loan and any interest rolled up is repayable on second death or moving into care