Catherine approached Miss Lolly age 38. She’d been hoarding cash for over a decade and had accumulated a six figure lump sum. The problem was this money wasn’t working hard for her and she really wanted to get in the property ladder but was unsure if she could afford to.
Solution – Miss Lolly suggested speaking to an independent mortgage broker to get an understanding of what Catherine could manage mortgage wise. Armed with this information, Catherine filled out the Miss Lolly budget planner as if she owned the property and was pleasantly surprised to see that she would be paying similar to what she was paying in rent. With the guidance of the website she also worked out her ideal cash buffer. Catherine now keeps this aside in a market leading cash ISA and is now focusing on her retirement planning and building up a medium term investment pot with the help of an independent adviser.next post: Anna