Jane and Barry Smith are both 62 years of age and are looking to retire abroad when they reach 65. They have friends who bought a villa in Spain and they would like to go and live near them if possible. They have a four-bedroom house which they bought for 37,000 some years ago and it has since risen in value to £350,000. There is no mortgage to pay on this property. They are hoping to sell this house and use some of the money to buy a property abroad. They have budgeted approx £200,000 for this property. In addition, Barry has a final salary pension pot worth 400,000 and an ISA worth £8...
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