Mr and Mrs Dyson, aged 73 and 79 respectively, completed on their first Property Plan in February 2007, releasing £40,766 from their £180,000 house. Having lived in their home for 30 years surrounded by friends and relatives they decided not to move or downsize, but elected to protect a 50% share of their property for their children. The tax-free cash they received was used to top-up their pensions and to install a new kitchen. The Retirement Plus initial share was 22.65% which will increase to a maximum share of 50% after 14 years and 9 Months.

A year later the family had a get-together and the children encouraged their parents to use some of the value still left in the property for some long overdue home improvements. The property was valued at slightly less than the previous year - due to the market falling; however, as the Retirement Plus share represents a percentage of the property value rather than the rolling up of interest, they were able to benefit from their 50% protected share, choosing to release a further £10,000 which reduced their share to 38.08%.

Their dream came true with the third release

In January 2009, the children decided they’d like their parents to really enjoy themselves and take a once-in-a-lifetime cruise on the Queen Mary 2. They contacted Retirement Plus through their broker and were pleased to discover that they were able to access more funds, albeit that their protected share would decrease. They chose to retain a 15.70% protected share which enabled a further release of £15,000.

“What the Dyson family really loved about the Property Plan was the underlying fact that the share owned by Retirement Plus only increases over a long period of time. This gives the Dysons more control and enables them to choose when they want to use the value of the home and for what. They’ve certainly made the most of the flexibility this plan offers, and they’ve still kept a protected share for the future. They are very happy, with no money worries and the plan still has years and years to run. I’m delighted.”

Colin Marshall, Mortgage G-Force