CASE STUDY TWO ADVISED NOT TO RELEASE

Mrs B contacted Viva Retirement as she had been struggling to make ends meet following the death of her husband who had been the main breadwinner of the family for many years. She had her home, which was mortgage free, but had seen the income that she was used to, drop severely.

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Mrs B had been making up the shortfall by using her savings, but now these were coming to an end too and she was panicking.

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Our adviser went to visit Mrs B to understand her situation and really get into what she wanted as an outcome. She was happy with her lifestyle, but wanted to be able to afford living where was and wanted to be able to afford to carry on shopping in Marks and Spencer, with maybe a holiday here and there with her daughter.

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Our adviser took a detailed look at income and expenditure and with the approval of Mrs B, conducted a Means Tested Benefits Assessment. Based on everything that the adviser was told, they worked out that not only could Mrs B potentially be eligible for full Council Tax Benefit, but she could also be eligible for a top up of her pension with an extra £40 per week Pension Credit.

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Mrs B was overwhelmed and our adviser helped her through the process of claiming these benefits, whilst promising to re-look at her situation with her after this claim.

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After a successful claim, it could be seen that in actual fact, Mrs B would be able to afford to live the lifestyle that she wanted, without drawing any money from property at all.

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Mrs B was still able to go on holiday with the help of family and therefore it was agreed that she would have an annual catch up with our adviser, where if needed, she could at any point look at a Lifetime Mortgage which would have a drawdown facility for her to use over the coming years.

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Mrs B was extremely grateful to our adviser and could not believe that a company would give this advice and not charge her a penny!!