Monetising assets post divorce

Our retired client needed to raise funds against an unencumbered property to buy out his former spouse following a recent divorce and enable a longer stay in the family home whilst long term plans were made.

The property was valued at £1.8m, and our client needed to raise £390k. Income included dividends from a family owned business. The client also had a private pension valued at £1.5m in addition to state pension.

TFI monetised the clients pension pot to reach a potential drawing sufficient to cover affordability requirements. This meant they could agree an interest only ERC free short term mortgage for 3yrs. The client intended to redeem the mortgage in full at that point, relocating and downsizing.