Jackson Ellis

Equity Release Advisor

An end-to-end Equity Release service that's tailored exactly to your needs

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Jackson Ellis

What We Do

Our aim is to find the best solution to meet your needs and preferences. To do this
we’ll look at the whole of the market and carefully select a plan for you, following
the regulations of the Financial Conduct Authority.

We will understand your circumstances, challenge where necessary, and provide
in depth written advice for equity release. Our advice and recommendations are
bespoke.

We provide a full end to end service and offer support tailored to your individual
needs, every step of the way.

Meetings can be arranged over the phone, video or in person. 
Jackson Ellis is based near Salisbury and can provided equity release advice in
person between Wessex and London, as well as telephone or video appointments
across the UK. 

As part of the Equity Release Associates network, advice appointments can be
arranged via telephone, video or in person across the UK.

 

What is Equity Release, and how can it help me?

Equity release is a way to access the funds that are tied up in your property and use this for almost anything you please. Many people consider equity release to fund spending in retirement, help family, or repay a regular mortgage or debts.

The different types of equity release include a lump sum lifetime mortgage, drawdown lifetime mortgage, interest only lifetime mortgage (all secured against your home) and a home reversion plan. With a lifetime mortgage, which is the most popular form of equity release, you maintain 100% of the ownership of your home.

This financial solution has grown over recent years and enables you to release tax-free money from your home.  Once you’ve paid off any existing mortgage that you may have, the money that you release is yours to enjoy spending. You have the option to make repayments on the mortgage, although you don’t have to. With a lifetime mortgage, the equity released from your property, plus accrued interest will be repaid upon death, or moving into long-term care.

 Here are some common reasons for taking out equity release:

  • Home improvements
  • Clearing debts and mortgages
  • Holidays, cruises and mini breaks
  • New cars and holiday homes
  • Gifting to children
  • Support cost of day to day living

Your Advisor will tell you everything you need to know about equity release including the effect on the amount of inheritance you can leave and if your entitlement to means-tested benefits could be affected now or in the future.

Our Services

No one size fits all and because everyone is different, your individual needs and preferences will be reflected in any recommended plan.

Your plan is bespoke to you.

This can be a confusing process as there are different types of equity release and different options to consider. Throughout the advice process, an adviser will talk through all the information you need and get to know you before giving important advice based on your circumstances, preferences and priorities.

To understand the features and risks, please ask for a free personalised illustration. Initial advice is free and without obligation – only if you choose to proceed and your case completes would a typical fee of £1,695 be payable.

Types of Equity Release

The plan you choose will be determined by your needs:

I’m looking for a lump sum of money

A LIFETIME MORTGAGE might be the answer. You don't have to make monthly repayments, if you don't want to ( but it's much cheaper for your estate if you make any payments either monthly or from time to time). Interest is added to the capital on a fixed interest rate, which compounds or rolls up - and this is usually repaid when you die, move into long term care or redeem the mortgage.

I only need some money from time to time

This is similar to a 'lump sum' lifetime mortgage but a DRAWDOWN MORTGAGE allows you to take your equity release in smaller amounts as and when you need further money. You don’t pay any interest on the money until it is drawn. This gives you the flexibility of having some now and some later on, ensuring that you don't waste money whilst it's languishing in your bank account and incurring interest unnecessarily. This can be more cost effective when compared to taking a lump sum all at once.

I’d like to pay off (some of) the interest

Some lifetime mortgages allow you to pay (some) interest on a regular basis. Paying a regular amount, is a wise move as it reduces the overall amount owing on your estate. Payments need to be affordable and the plans can convert to a regular lifetime mortgage should your circumstances change and/or payments not be met. However, a slightly higher interest rate may be applicable on conversion. As with other types of Lifetime Mortgage it is usually repaid on death; moving into long term care or redemption.

I’'m comfortable giving up ownership of my home

A HOME REVERSION plan could be considered. This gives you the right to stay in your property, free of charge, for as long as you live AND will give you a lump sum of cash in exchange for the ownership of part or all your property. You would generally receive less than the market value for your home. This lifetime lease is usually rent free and is available for over 65s only.

Wills

If you die without a valid will in place, you die intestate, meaning your estate will be distributed following the rules of intestacy, rather than in line with your specific wishes.

Wills can also become out of date, or revoked in the case of a marriage, if there has been a change to your family circumstances since the will was written.

Having a valid will in place gives you the peace of mind of knowing that your wishes will be honoured after you die and can make it easier for your family to administer your affairs at a time when they need it the most.

Writing a will allows you to specify who you want to sort your affairs out after you die. This is the role of the ‘executor’.

Taking professional legal advice can help you to understand the potential for your estate to become liable for paying inheritance tax and plan ahead.

If you have young children, a will allows you to specify who you would want to look after them and how you would like any money left to them to be held in trust.

We’re able to refer you to partners who can provide these services. We can also refer you to arrange lasting powers of attorney (LPAs) which are an important consideration in ensuring people of your choosing would be able to manage your affairs if you were to lose the capacity to do so yourself.

Mortgage Advice

We’re passionate about people having access to quality, mortgage advice
when they need it, to ensure they’re not left making higher payments than
necessary.

So we’ve teamed up with a mortgage specialist, who can help our clients
access products from the Whole of Market, with a convenient service
tailored to your needs. So if you’re buying for the first time, looking to
move home or just need to review your existing mortgage arrangements,
please get in touch.

Frequently Asked Questions (FAQs)

Lifetime mortgages are the most popular form of equity release and with this type of equity release you will continue to own your own home. Depending on your circumstances your adviser may recommend a home reversion plan. This type of equity release plan works by selling some or all of your home to a home reversion provider.

This will depend on a number of factors and we would explore this fully as part of
the advice process. Once your circumstances and options have been fully
reviewed, we’ll confirm whether we feel equity release could be the solution for
you. We’ll make sure that you know how the plan works, what the risks are and
that you’ve looked at all the alternatives. To apply for an equity release plan, you need to have spoken to an authorised and qualified adviser.

The fees listed below are not charged until you receive your money, at completion.
Therefore, an initial consultation is free.

For equity release cases, our professional advice fee is £1,695, the panel solicitors
in England and Wales charge £795 excluding VAT and disbursements, lenders
may charge an arrangement fee which can vary and a plan with such a fee would
only be selected if advantageous for you. There is also a ‘procuration fee’ which
clients don’t pay but is paid by the lender to Equity Release Associates Ltd. This is
standard industry practise, and the adviser will show you how this all works in a
personal recommendation.

Some advisers are ‘tied’ meaning that they only recommend plans that are offered by one or a select few lenders. If your adviser covers the whole of the market they can access the full range of products offered by various Equity Release lenders. A whole of market adviser is able to compare rates and criteria across many lenders, increasing your chances of securing the most competitive rates available.

Typically between 20%-50% of your house value can be released. The amount depends on your age, type of property and your health and lifestyle. It is worth noting that the more equity taken from your property the higher the interest rate will be.

The majority of Equity Release plans come with a fixed rate of interest for the
lifetime of the plan.

Get in touch

Please call me on 0787 60 30 740, or complete the form below and I will get in touch with you.

Our happy clients...

 
 
 
  Excellent  
    
 Based on 3 reviews 
  
 
 
 
 
 
 
  
 
 
 
 StJohn Agnew 
 
 
 StJohn Agnew 
 
2023-08-09
 
 
 Trustindex verifies that the original source of the review is Google. 
Jackson is a charming and helpful man and he made my re-financing journey much easier. Interest rates have risen very rapidly and I needed a more manageable alternative since my low fixed interest rate mortgage was ending.  With Jackson's help this is exactly what I have achieved. It suits me very well and provides with me with payment flexibility into the future.
Equity Release mortgages are complex products and understanding is crucial. Despite any negative press, these mortgages can provided excellent solutions and have done for me.

My property involved complex legal issues and these were causing severe problems and delays amongst the Solicitors. I needed to pick up the phone and speak to Jackson. I needed an Advisor who could get to the bottom of the problem, speak to the right people and get it done. Jackson did exactly this.

Helpful Advisors are hard to  find these days as we are forced to have one-off conversations with different dis-interested people via appalling computerised voice systems. You need  a knowledgeable and helpful communicator to get peace of mind. Jackson is your man! I thoroughly recommend him.

St.John Agnew
  
 
  
 
 
 
 Brian Ritchie 
 
 
 Brian Ritchie 
 
2023-06-10
 
 
 Trustindex verifies that the original source of the review is Google. 
Re: Mr. Jackson Ellis, Equity Release Associate.

I am writing to show my appreciation for Jackson Ellis who has been working tirelessly to help me achieve an Equity Release deal on my property for about 6 months now.

I was first contacted by Mr Ellis around 22nd November 2022 after I had tried, and failed, to secure an equity release deal with my present life assurance provider – Legal & General – who informed me after several weeks of supplying documents to them they couldn’t arrange the finance needed. I had been called to court a few times by Accord Mortgages and had a hearing date set for 8th December 2022 at Airdrie Sheriff Court when I was expected to report to the court that an equity release deal was the only option open to me and was progressing.

Since my wife of 30 years had passed away on 1st March 2019 I have found myself in frequent despair especially since my sister also passed away suddenly of a fatal heart attack climbing a mountain in Chile and I had to deal with several government departments to ascertain where her body was and arrange her repatriation to UK.
During all this time I decided to retire in March 2020 from where I worked for 26 years the week before Covid-19 caused total lockdowns globally and found that I had to work from home for my former employer for a further 2 months at a minimal payrate which I found disrespectful and told them so.
During which time the £55k for my wife’s life assurance PLUS £41k from my pension fund had all been scammed from me meaning I could not now pay-off my mortgage and secured loan as expected.
I had paid my loans diligently for 20 years and only had another 5 years to conclusion and hoped that this would appease my lenders, but nothing I did pleased them whilst hoping to urge them to stop repossession of my property until Jackson Ellis became involved in my plight.

Jackson Ellis has been extremely sympathetic to my plight leasing with my lawyer, John Ballantyne, Accord Mortgages and Prestige Finance to help secure a favourable outcome for my family so that myself, my daughter, and Son could continue to live in the property we have shared for the past 17 years and where my wife died.

I thoroughly commend Jackson Ellis for his understanding of my many issues and for advice he offered.
It is times like these when one realises who your REAL friends are and who one can rely on for sensible advice when it really matters.

Sincerely,

Brian Ritchie
  
 
  
 
 
 
 Christopher Butler 
 
 
 Christopher Butler 
 
2022-09-12
 
 
 Trustindex verifies that the original source of the review is Google. 
Jackson has helped us so much and been a constant source of support during the process
Of achieving our stated aims.His pleasant kindness and courteous manner have been a pleasure
and his personable nature a great asset to us and his company Thankyou Jackson. With sincere regards Chris and Keith
Equity release may involve a home reversion or a lifetime mortgage, which is secured against your property. To understand the features and risks, ask for a personalised illustration. Equity release requires paying off any existing mortgage. Any money released, plus accrued interest would be repaid upon death, or moving into long-term care.

Jackson Ellis

Jackson Ellis is an adviser for Equity Release Associates Limited, which is authorised and regulated by the Financial Conduct Authority. FCA registered number 932793.

We provide initial advice for free and without obligation. Only if you choose to proceed and your case completes would a typical fee of £1,695 be payable.