Mr & Mrs X owned a property which had an interest only mortgage outstanding with Santander. The repayment date was to be summer 2018 and there was no repayment vehicle in place which would clear the balance due. They were looking at all options available which would allow them to continue to live in the home they had been in for over 30 years but thought that the only real option would be to sell up in order to clear the mortgage they had. When I discussed Lifetime Mortgages with them they were pleasantly surprised at how much equity they could release from their home at a very competitive interest rate. They were delighted to learn that they would always have full ownership of their home and it would not be signed over to the lender. Their wishlist also comprised of gifting money to their grandchildren as their view was that they would rather help them now when they needed it rather than wait for years on an inheritance. Within a matter of a few weeks, their existing mortgage was repaid which also meant they no longer had monthly payments to make and they had a lump sum in their bank account to use as they wished.