Hello, I’m John Whyte, Specialist Equity Release Broker covering Bournemouth and the whole of the UK.
I’ll help you choose an equity release plan that’s right for you, leaving you to enjoy your retirement.
I’ve prepared a handy guide to answer some FAQs but welcome you contact me so I can answer your questions personally. To understand the features and risks of your own lifetime mortgage, please
ask for a personalised illustration.
Why choose equity release?
Equity release is a way of accessing the money that you have tied up in your property, particularly if you don’t have many cash savings but there is a lot of value in your home. This situation is common for homeowners once they reach retirement, who choose equity release to benefit from a lump sum or a series of payments to make their lives more comfortable.
Equity release schemes can be used for any purpose, from making improvements to your home, funding big family holidays or providing financial gifts to family members. There is a range of different schemes and providers on the market, so it’s essential that you do your research and find the equity release plan that best fits your situation.
According to Rightmove, the UK’s number one property website, properties in Bournemouth enjoyed an overall value of £344,358 in 2020/2021. This constitutes a 17% increase on the previous year and a 24% rise compared to 2018. The majority of sales last year were detached homes which sold for an average of £462,749, semi-detached properties sold for an average price of £320,879 while flats fetched around £231,925. With unrelenting capital growth in Bournemouth, now could be the perfect time to consider equity release.
If you are in the initial stages of planning equity release, I would be more than happy to provide you with more information. To get an estimate for how much money you may be able to release from your home, simply complete the form on this page and I will get back to you as soon as possible.
How equity release works
1. Advice
Lets explore how much you could release
2. Search
We’ll find a product that suits your needs
3. Apply
Your application is made
4. Legal
An independent solicitor confirms your application
5. Complete
Your cash is unleashed
Testimonials
Am I eligible for equity release?
The criteria for equity release eligibility is actually quite simple. In order to be eligible, you need to be over the age of 55, and you must own a conventional property that has a value of at least £70,000.
How much could I borrow through equity release?
This can be a difficult question to answer because of the range of factors that can affect it. The first issue is, of course, how much your property is worth but it also depends on factors such as your age, health, medical history and more.
About John Whyte, Equity Release Specialist
As a specialist in mortgages and equity release, I work in and around Bournemouth and along the south coast to provide independent advice to my clients. Whether you are looking at lifetime mortgages, later life mortgages or home reversion plans, I would be happy to assist you in finding the right option for your current situation and future finances.
How much could you release?
Our Case Studies
Mr & Mrs B from Sussex
Aged 70 & 74. Property Value £165,000. An initial release of £26,400 for debt consolidation, minor home improvements, holidays for the year ahead and Birthday/Christmas spending on their family. Further (annual) sums have since been drawn to continue provision for the annual costs of holidays, birthdays and Christmas presents for their every growing family.
Mr & Mrs P from Hampshire
Aged 67 & 65, Property Value £300,000 outstanding mortgage of £56,000 with a term due to expiry, Other debts of £17,000, Total Monthly Cost of £540. Total Release of £74,500 to repay in full all debts and initial set up costs, interest to be serviced as equivalent monthly cost is lower at circa £400pm and capital ultimately repaid on death from the estate.
Mr & Mrs S from Guildford
Recently retired Mr & Mrs S had means of ‘paying’ interest and possibly even mortgage loan capital but they found that ‘normal’ mortgage lending was restricted. To fund renovations on their new property, the couple opted for a small £30,000 release, made on a value of approximately £330,000. They are now looking to release further funds to indulge their ‘bucket list’!
Get in touch
To learn more, simply call our team on 01903 890 660 and we can arrange an initial consultation. You are welcome to visit our Worthing office or, alternatively, I am happy to make an appointment to come to your home. Our first consultation is always completely free and without obligation, simply to help you realise your potential options.
Talk to us today about equity release by calling 01903 254993 or by the form below.
Equity Release Sussex is a trading style of The Later Life Lending Network Limited, an Appointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority (Ref – 649443). Registered in England and Wales no. 09832887. Registered address: 70 St. Johns Close, Knowle, Solihull, England, B93 0NH.
For Independent Equity Release advice we do not charge any upfront fees however,
a fee of up to 1% of the total cash facility arranged is payable (subject to a typical minimum charge of £1,295) on completion for our service in relation to lifetime mortgage contracts plus commission from the lender.
The exact amount will depend on the complexity and work involved in your case and will be confirmed by way of a formal fee agreement.
For Independent Mortgage Advice we charge a fee of up to 1% of your mortgage amount payable (subject to a typical minimum charge of £295 payable on application & £300 on completion (£595 in total) plus commission from lender. The exact amount will depend on the complexity and work involved on your case and will be confirmed by way of a formal fee agreement.
The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK