CASE STUDY FIVE - GRANDSON'S HOUSE DEPOSIT

Mr & Mrs E were both in their early 60's and had one daughter and one grandson. Their grandson had recently finished his education and had started full time employment as an accountant but was desperate to buy his own home with his girlfriend that had just become pregnant. He wanted to stay in the same area as his parents and grandparents, but due to the cost of houses in the area, couldn't foresee being able to save the deposit he needed for a property for many years to come. Mr & Mrs E, who owned their property outright, contacted Viva Retirement Solutions and released sufficient equity from their own property to be able to give their grandson enough money for a deposit on a property in the next street. They said that 'He might as well have it now when he needs it rather than having to wait until we have both died before he gets anything'.

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