Deposit to buy a house
She explained that she and her husband needed to raise as much capital as possible for a deposit on a house. They had a £10,000 payout from a bank charges claim but needed to top this up to give them a sufficient amount to put down as a deposit. Pension Release, otherwise known as Pension Unlocking, seemed to offer the solution for them.
For the couple it was extremely important to get back on the mortgage ladder and own their own home after a period of living in rented accommodation. Helen explained that the couple had invested all previous savings in a business which unfortunately failed and due to other circumstances, were not in a position to borrow money for the deposit.
Taking cash from the pension now in the form of Pension Unlocking or Pension Release, although maybe not the ideal solution, was for them the only real alternative to enable them to meet their objective.
Helen and her husband fully understood that by taking benefits from Helen’s pension early the pension income in retirement would almost certainly be reduced. However, the position they found themselves in meant their retirement fund, for the time being, had become very much a secondary concern.
Once they had sorted out the mortgage and purchased a house, they could then focus their attention to the matter of planning for their retirement. At the time, Helen was aged 51 and her husband was only 40, so they still had enough time left between them to accumulate an acceptable retirement fund.
In this instance Pension Unlocking or Pension Release was appropriate for their circumstances. Obviously, had the circumstances been different – had they been older and had less time to rebuild their retirement funds, or had the amount needed led to too large reduction in pension income for example – then this solution would not have been for them.
At Grove Pension Solutions, we look at each case on an individual basis and offer the most appropriate advice for each situation.
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I cannot praise your company enough. From the initial enquiry form to completion the whole procedure was absolutely first rate. Your staff are a complete credit to your company and it is impossible for me to find anything further to add. Superb!!
Found your service to be very professional. Your staff were polite and friendly ready to explain / clarify any query I had relating to release of my pension fund(s). Even went the ‘extra mile’ to update me via phone and text.
I was in a situation and found that Grove Pension Release came to my rescue and appreciate everything they did for me.
Very helpful & informative staff who understood my situation & why I had to release funds. I was informed that it could be a bad decision to proceed & was put under pressure not to, which doesn’t make sense as Grove wouldn’t make any money.
I found the service very good, everything was explained in simple English, which made it easy to understand. The advisor was polite and very helpful.
Thoroughly recommended, nothing to much trouble, always there to give advice, always dealt with the same person at all times. Very glad that I used this company.
Pensions are an incredibly difficult subject to grasp but the team at Grove Pension Solutions went out of their way to explain, in plain English, the pro’s and con’s with regards to the pensions even if it meant that they wouldn’t get as much business. They really did put the client first which is a refreshing change to the financial culture of today. I was very happy with the service and satisfied that my pensions are in safe hands.
Grove made all aspects of the pension release process very clear and precise, and kept me up to date on what stage my pension unlocking was at. Very professional at all times.
A very professional, yet friendly and personal service. I would strongly recommend your company to anyone interested in pension release. Many many thanks to all your staff for a service second to none.
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