Hello, I’m John Whyte, Independent Mortgage Broker, Specialist Equity Release Broker and Will Writer in Sussex covering the whole of the UK.
I am an independent mortgage broker with 25+ years’ experience in the financial services industry, specialising in residential mortgages and equity release plans. Using my unparalleled expertise in this complex sector, I can help you find the most competitive mortgage deals and later life mortgage facilities from all lenders.
A property asset may well be your largest ever investment but obtaining finance for a flat or house purchase, or releasing equity from your existing family home in later life, can be a complicated process that’s hard to navigate on your own. The good news is that there’s a wealth of choice out there and I can give you my personal attention and provide the expert help to guide you through the maze and find a financial solution that is right for you.
We all want to ensure that we pass on our property and other wealth to our loved ones when the time comes, which is why it is so important to write a Will. Sadly, putting it off can result in avoidable tax on death and additional hardship for family members. As a Will Writer, I can work with you and draft your Will to ensure your wishes are conveyed legally and clearly, while minimising your tax exposure.
What is Equity Release?
Equity release refers to a range of products that let you access the equity (cash) tied up in your home if you are over the age of 55. You can take the money you release as a lump sum, in several smaller amounts or as a combination of both.
If you’re a home owner who is wishing to release some of the value of your own property, then you’ve come to the right place. Some retirees find themselves equity rich but cash poor, and releasing the equity locked up inside your home may be an excellent way to generate additional financial liquidity.
Using my vast industry knowledge and expertise, I can 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 to 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.
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
Our Services
Lifetime Mortgage
Take out a mortgage secured on your property provided it is your main residence, while retaining ownership.
Home Reversion Plan
You need to be aged 65+ to qualify for a Home Reversion Plan. You have the right to continue living in the property rent free until you pass away.
Professional Will Writing
We all want to ensure that our property and wealth is passed on to our loved ones when the time comes. That’s why it is so important that you have a Will that is legally valid and up to date.
Mortgage Broker Sussex
John Whyte is an Independent Mortgage Broker with over 25 years’ financial services experience and an in-depth knowledge and understanding of the many different mortgage types and products on offer.
What is Equity Release?
Equity release is a way to unlock the capital tied up in your home in one cash lump sum or in several smaller amounts, or as a combination of both. You can only get equity release if you own your home and are over the aged of 55.
What is an equity release broker?
An equity release broker is a completely independent intermediary for clients seeking to release equity from their property. An equity release broker offers market intelligence and acts as an agent for the customer, providing personalised advice. Equity release brokers make their money by charging a fee or commission for tailored equity release solutions.
What Costs are Involved with Equity Release?
There are costs involved with equity release. These are the fees for independent financial advice, the mortgage lenders charge and the property valuation or survey fee required to get a current market value of your property.
There is also the interest accumulated through lifetime mortgage plans, but this isn’t an immediate cost – it is rolled-up until the end of the loan (when you die), at which point it is payable by your estate.
Do I have to pay tax on the equity released?
No, you do not pay any direct tax on the money you receive from an equity release plan. It is not classed as a capital gain because you are borrowing money against your home. However, if you invest your tax-free cash in ISAs or other savings accounts, you may have to pay tax on any growth. Releasing equity from your house will reduce the value of your estate so it could actually reduce your Inheritance Tax bill when you die.
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Our Case Studies
Mortgage Broker Sussex
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.
Mortgage Broker Sussex
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.
Mortgage Broker Sussex
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’!
Talk to us today about equity release by calling 01903 890660 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