Hi there,
My lovely dad passed away mid September and my my mum is trying to get used to life on her own.
She has some savings >£10k and a small private pension plus a percentage of my dad's pension. She is not entitled to any benefits. She is frugal by nature and feels she will be fine. She also has a very well stocked freezer and a healthy vegetable patch. But I am freaking out about her pot of money because once it's gone it's gone.
I wonder whether she should get a small interest only mortgage on the house to give her some safety money, and then that loan would be paid off from her estate when she dies.
Also she needs a new boiler and I wondered if there are any grants available for that.
I am hoping you might be able to give me some advice.
- would a mortgage be a good idea?
- where would you find out about deals and grants for OAP's
- is there anything financially canny we could do to make her life easier?
Thanks in advance.
PS my DB and I both have our own families and incomes, so aren't relying on a big inheritance -we just want her to be comfortable and be able to have a modest holiday from time to time.