v AVAILABLE ON ALL DEVICES v 2nd April 2026 • The HERALD • Page 75 ASK A PROFESSIONAL YATES & CO Chartered Accountants Specialists in providing accounting and taxation advice to small businesses and individuals Contact: Colin Yates A.C.A. Telephone: (023) 8086 1550 E-mail: enquiries@yatesco.co.uk Personal and Friendly Service Understanding Equity Release by Callum Skinner, Chartered Legal Executive at TMT Legal Services Equity release allows homeowners aged 55 and over to unlock money tied up in their property without needing to move. For many, it can o er a valuable way to fund home improvements, cover unexpected costs or enjoy greater nancial security in retirement. However, the options available can be confusing, and understanding how each type works is essential. What Is Equity Release? Equity release allows you to access some of the value of your home while continuing to live in it. You don’t need to have paid o your mortgage entirely, but the amount you can release will depend on the equity you hold. A professional surveyor will assess your home’s market value as part of the process. ere are two main types of equity release: • Equity release mortgages • Lifetime equity release mortgages (also known as Home Reversion Plans) Both allow you to stay in your home, but they work very di erently. Equity Release Mortgages is is the most common option. It is a loan secured against your property, paid as a lump sum or in stages. You remain the legal owner and typically do not make monthly repayments. Instead, the loan and interest are repaid when your home is sold, usually when you pass away or move into longterm care. Interest is usually xed and compound, meaning it can grow signi cantly over time and reduce the value of your estate. Lifetime Equity Release Mortgages ese work di erently. Rather than borrowing money, you sell part or all of your home to a provider in exchange for a lump sum or regular income. You can stay in your home rentfree for life, but because the provider waits until the home is sold to receive its share, you receive less than market value for the portion sold. Equity release is a major nancial decision, if you’re considering releasing equity or simply want expert guidance, our team is here to help. Pop into one of our o ces in Hythe, Chandlers Ford or Bitterne Village, call us on: 0333 188 4758, or visit: www.tmtlegalservices. co.uk for more information. Callum Skinner, Chartered Legal Executive at TMT Legal Services Hampshire Developer Supports Prestigious Housebuilding Awards A leading Hampshire developer and former winner of the South Coast Property Awards is backing the event for 2026. Barratt and David Wilson Homes’ Southampton division, won Residential Development of the Year at the Awards in 2023 for its Harbour Place development in Bedhampton. Since its win the 5-star developer, which is striving to become the UK’s leading sustainable housebuilder, has continued to support the awards and this year will be category sponsor for Sustainable Development of the Year. The highly prestigious awards culminates in a glittering ceremony on 11th June at Leonardo Royal Southampton and recognises contributions of agents, developers, planners, consultants, property lawyers and dealmakers to the success of the construction industry. Barratt and David Wilson Homes Managing Director, Matt Paine, said: “The South Coast Property Awards celebrate the leading players in the commercial and residential property community and their achievements. As a key player in setting standards of housebuilding, Barratt constantly strives for excellent quality homes and next level customer service – evidenced in the fact that we’ve received more NHBC Pride in the Job Quality awards than any other housebuilder for 21 years and awarded 5 stars by its customers in the HBF satisfaction survey for sixteen years in a row. As we look to the future and set our sights at becoming the UK’s leading sustainable housebuilder, we were keen to get involved with the awards to support and recognise those who are going above and beyond to improve processes and develop products in the construction industry to make it more sustainable and more cost effective.”
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