We are delighted to report on the many ways the programme has been of benefit to our clients. Here are some examples :-

1. Harry and Ruth retired to Spain in 1989 and lived very well on their pension incomes for a number of years. However, by 2001 they were finding that they could no longer afford to live in this manner and had to limit most of their "social" pleasures. They entered our equity release plan in November 2001 so as to increase their income. Tragically Harry died in February 2002 and Ruth's world was changed dramatically. Although our plan had been in place for less than three months it still enabled Ruth to avoid paying inheritance tax (without our plan this would have amounted to around €80,000).

Ruth could not face living in the same house that she had shared with her late husband but realized it could not be sold for some time until all the legal formalities had been finalized. As the equity release plan was already in existence Ruth was able to have immediate access to 25% of the value of the property and with this she was able to purchase a bungalow close to her relatives in England. Some months later the Spanish property was sold and Ruth received the full net sale proceeds which she has invested wisely to provide that extra income.

2. Carol and Bernard have lived and worked in Spain for a number of years, they have limited cash resources but had seen their property increase substantially in value. Their only daughter informed them that she had become engaged to a local Spanish boy and wished to marry fairly quickly. By entering our equity release plan they were able to finance a wonderful wedding and reception, a honeymoon in St. Lucia and a deposit for an apartment in Fuengirola for the newly weds. Carol and Bernard now have the pleasure of their daughter and son in law living just around the corner and their new grandson is their pride and joy..

3. After the death of her husband Geraldine found that her husband had made a number of cash bequests to some of his relatives. However, apart from their family home, there were insufficient other assets to meet these commitments. In addition she discovered that her reduced pension income was much lower than she had anticipated and believed that she had no other option but to sell the family home, which she had anticipated living the remainder of her life in. By entering our equity release programme she was able to raise sufficient money to settle the bequests, generate sufficient additional income to live in the manner to which she has become accustomed and, more importantly, she is now able to live the rest of her life in the home and environment in which she is comfortable.

4. Susan and James had purchased a property some years ago with the help of a conventional repayment mortgage from their local Spanish bank. Harry worked on a part time basis in the construction industry but was badly injured and unable to continue working. This resulted in a financial strain on their resources and culminated in them falling behind with mortgage repayments. By entering the equity release plan they were able to repay their mortgage in full and free themselves from future monthly repayments. In addition, James was able to pay for private medical treatment on his damaged leg, which enabled him to return to his part time occupation much quicker than had been anticipated.

5. John and Eileen are in their seventies and retired to Spain some years ago. It was their life long ambition to travel the World before they died. Our equity release plan enabled them to go on a six month around the World cruise before returning home and to continue the journey by reliving their experiences with their friends and neighbours.

6. Angela had wanted to start a hairdressing and beauty business for a number of years but did not have the necessary capital to do so. She approached a number of banks for finance and although she owned her own property was unable to raise the funds as her level of income would not support the level of loan required. By entering the equity release programme she achieved her objective and her salon opened in October 2004. The business started to generate a positive cash flow this March and Angela is delighted with the new life the programme has given her.

7. Malcolm used the equity released from his substantial property in Marbella to purchase a small apartment in Paris and the additional income generated is being used to pay for the upkeep and maintenance thereof.

8. Brian and Sheila own a magnificent property in Marbella and have lived there for the last few years. They decided to emigrate to Australia where they were committed to investing and working in a newly established business. They placed their property on the market at a price acceptable to them, which was €300,000 lower than advised by a local estate agent. Over the following six months they received only one offer for the property and this was €1,000,000 less then the asking price. They were told by their agents that the property market in the area was nothing like as buoyant as it had been and could stay that way for two or three years. They were not willing to suffer a loss of capital but they were committed to moving to Australia and investing capital into the business.

By entering our equity release plan they were able to fulfill their financial obligation in Australia and are now getting to grips with a totally different life style in that country. They have taken their Spanish property off the market until they are advised that property prices have recovered to previous levels. In the meanwhile the costs of maintaining the property are being met from the surplus income generated.

All of the above has been achieved by taking "interest only" loans on property located in Spain and using a proportion thereof for the property owners own requirements. The secret of the plan's success is to ensure that the remainder of the loan is invested securely and safely, producing sufficient returns to ensure that the ongoing interest and costs are financed so any surplus may be taken as income.

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