Hello, I’m John Whyte, Specialist Equity Release Broker covering Croydon 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.
Is equity release right for you?
An increasing number of homeowners in Croydon over the age of 55 are finding that a significant amount of their money is tied up in the value of their home. Where house prices in the area have risen dramatically over the last twenty or thirty years, those fortunate enough to have a property in Croydon are finding that their home is worth substantially more than they paid for it, but have no way of accessing those additional funds without selling.
Equity release can be a useful way of using some of the capital invested in your home without having to move house, allowing you to draw a lump sum, a series of payments or a combination of both. This then allows you to invest in home renovations, give gifts to family members or pay for leisure and lifestyle costs.
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?
It is commonly believed that there are many complexities revolving around qualifying for equity release, but this is not the case. Eligibility criteria for equity release is simple: you must be at least 55 years old, and you must own a conventional home in the UK which has a current value of at least £70,000.
How much can I borrow?
There are some factors determining how much you can borrow through an equity release product. Specifically, these include the value of your property at present, you and your partners age and health. There may be other specifics detailed by the scheme that you are interested in, and these can include medical conditions, lifestyle choices and more.
Working with John Whyte Equity Release
There are numerous equity release schemes available so consulting with a regulated professional is essential before making a commitment. By working together, we can find the scheme that fits best with your lifestyle needs and financial situation. This also applies to homeowners that already have an equity release plan but would like their terms to be reviewed to see if a better interest rate is possible.
I have been providing financial advice for over 18 years, and offer clients specialist, independent guidance about equity release all across London and the South East. Whether you are interested in lifetime mortgages, home reversion plans, later life mortgages or simply a bit more information about your options, I would be happy to help.
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
If you have any questions about equity release in Croydon, please get in contact. You can call me on 01903 890660, email me on john.whyte@therightequityrelease.co.uk or complete the form on this page I will get back to you as soon as possible.
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