Equity Release Services Guildford

About John Whyte Equity Release

I have many years’ experience in providing independent financial advice to clients across the South East, specialising in mortgages and equity release. Whether you are planning to take out a lifetime mortgage or home reversion plan in the near future or are simply getting more information for a later decision, I will be happy to answer any questions you may have.

I routinely work with people all over the Guildford area, providing phone consultations and arranging meetings at homes in Farnham, Woking, Leatherhead and Guildford, as well as the neighbouring towns and villages. For more information about Equity Release options, please call me on 01903 890 660.


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Why choose equity release?

Most people find that, over the course of their lifetimes, the majority of their money gets invested into their homes. This can make it difficult to access their money once they reach retirement, particularly without leaving the property, happy memories and neighbourhood friendships, behind.

Equity release schemes offer a way for homeowners over the age of 55 to access some of their funds in the form of a lump sum or a series of smaller payments. It provides an alternative to down-sizing and can be used to enjoy a more comfortable lifestyle, fund a home renovation or pay for a big family holiday.

The most important thing before committing to any scheme is to make sure you fully understand the terms and consider whether you are making the best financial decision for your situation. This is where I can help, explaining the different options and giving you an idea about how much equity could potentially be released from your home.

If you would like to have a free, no-obligation initial conversation about this, please complete the form on this page or email john.whyte@therightequityrelease.co.uk and I will get back to you as soon as possible.

Case Studies

Mr & Mrs W

Mr & Mrs W are a married couple that were still running their own business into their late 50s and early 60s. They do not have any children or other immediate family beneficiaries on death. Their main residence was valued around £600,000, plus they owned a holiday ‘static’ and some investments valued at around £200,000. These provided additional monthly ‘income’ tax efficiently whilst retaining its overall value year to year, so the clients were reluctant to reduce its value.

They were looking to fund the purchase of a more permanent holiday home in the West Country, such as a ‘lodge’, for around £75,000. As funds were for this purpose, Mr & Mrs W felt that their current property could fund this, whilst simultaneously diversifying their property investment and providing an ‘out’ from the day to day environment of home and business.

When the couple wanted to discuss equity release options, they were initially unaware that the interest on a lifetime mortgage could be serviced if they desired, but with NO commitment to making payments at any time (i.e. traditional roll-up). Optional / voluntary payments could be made as and when (within the lenders allowances) subject to their affordability probably whilst continuing to run their business and thus slowing down the effect of compounded interest.

Mr & Mrs G

These clients were in their early 70s and had limited ‘liquid’ assets. The majority of their money was either tied up in their home or shared with other family members, meaning access to releasing their capital was impossible without significant impact.

Mr & Mrs G had an interest-only mortgage outstanding along with other unsecured debts, which, whilst being fully serviced and up to date, were becoming more of a burden and a concern to Mr G. Most of the couple’s income relied on his ongoing work and their financial situation would become difficult if he stopped working or if he should predecease his wife.

Due to the high loan-to-value required (44%), we were able to utilise client’s respective health conditions and choose a lender that would provide a higher than ‘average’ release amount based on their respective medical history.

Mr & Mrs S

Mr & Mrs S were recently retired clients that had moved areas and downsized in terms of property value. They found themselves wanting to complete renovations and improvements to their new property, but had no other financial means to do this.

Having recently retired, the couple’s income levels had dropped significantly. Mrs S could not supplement the income with her state pension as she would not be eligible for several more years. Mr S had the means of ‘paying’ interest and possibly even mortgage loan capital, but found that ‘normal’ mortgage lending was restricted due to their respective ages and their ongoing reliance on Mr S’s pension income.

The couple opted for a small £30,000 release, made on a value of approximately £330,000, to complete improvements. The couple are now at the stage where we are reviewing their case and current interest rates, with a view to reducing this and possibly providing release of further funds. They are hoping to use the extra money to indulge their ‘bucket list’ dream of purchasing a camper van and travelling around the UK at their leisure!

Equity Release Sussex is a trading style of TRM Financial Ltd (FCA Ref 725622), an Appointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority (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.

To understand the features and risks, ask for a personalised illustration. Think carefully before securing other debts against your home.

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